MIDDLE EAST AND NORTH AFRICA
Saudi's NCB, Riyad Bank report Q2 earnings: yesterday reportedsecond-quarter net profit of 2.44 billion Saudi riyals, up from 2.36 billionriyals in the year-ago period. The year-over-year rise reflected the increasein total operating income resulting from the increase in net special commissionincome, fees from banking services, foreign exchange and trading income.
* reportednet profit of 1.15 billion riyals in the second quarter, up on a yearly basisfrom 1.13 billion riyals. The bank's first-half profit rose year over year to2.32 billion riyals from 2.30 billion riyals.
* The Saudi Arabian MonetaryAgency dismissed social media reports that it plans to issue a new Saudi paperand coin currency, Gulf Digital News writes.The central bank also denied reports that it will issue a 1,000-riyal banknote.
* National Bank of Kuwait SAKP saw a 7.2% increasein its second-quarter net profit to 71.7 million Kuwaiti dinars from 66.9million dinars a year earlier. For the first half, the bank's net profits was150.6 million dinars, compared to the year-ago 163.4 million dinars whichincluded exceptional gains resulting from the sale of the bank's share inInternational Bank of Qatar(QSC) amounting to 22.5 million dinars.
* Bank SoharSAOG posteda year-over-year decline in first half net profits after tax to 8.8 millionOmani rials from 13.9 million rials. For the second quarter, net profits aftertax reached 4.7 million rials, compared to 4.2 million rials in the firstquarter. The results included AFSinvestment gains/losses, dividend, impairments and the provision forrestructured accounts.
* Qatar's ruling al-Thanifamily became the largest shareholder in Deutsche Bank AG after it significantly raised its stakein the German bank to 10% through two of its investment vehicles, Argaam writes.Paramount Services Holdings and Supreme Universal Holdings, acting on behalf ofthe royal family, raised their stakes in Deutsche Bank to just under 5%each.
* The Bahraini central banksaid more than 123 complaints were lodged against 17 insurance companies in thefirst half, Al-Ayam writes.
* The Central Bank of Egypt is considering four scenariosfor the future of the country's currency against the U.S. dollar, includingleaving the exchange rate fixed at 8.78 Egyptian pounds to the dollar, andallowing total fluctuation of the exchange rate, Daily News Egypt reports.
* Tunisia's financial regulator CMF authorizedthe nominations of Ghassen Belhadj Jrad as CEO of Mena Capital Partners andKarim Maaref as CEO of UIB Finance, according to a Bourse de Tunis filing.
EAST AND WEST AFRICA
Former National Bank ofKenya CEO detained: Kenyan policearrested former National Bank ofKenya Ltd. CEO Munir Ahmed on Friday at the airport on suspicionthat he wanted to leave the country, the DailyNation reports. Ahmed, who was fired along with five other managers in April overallegations of financial malpractice, was detained for more than three hoursbefore being released without charge.
* Kenyan High Court JudgeJustice Patrick Otieno lifted orders suspending payment schemes to depositorsin Imperial BankLtd., the Daily Nation reports.Billionaire Ashok Doshi and his wife had sought to suspend the payments on thegrounds that they held both U.S. dollar and shilling accounts in the bank.
* About 200 shares have already been booked in the sale of the Ivorian government's 20% stakein Société Ivoirienne de BanqueSA, Agence Ecofin reports.
* Central Bank of NigeriaGovernor Godwin Emefiele last weekflew to the U.K. and the U.S. to woo investors steering clear of the countrydue to the oil price slump and resulting financial turmoil, a central bankofficial tellsReuters.
* The Bank of Sierra Leoneon Friday sought to quell depositor fears after the Central Bank of Nigeria'sdecision to overhaul the board and management of , which has a subsidiaryin Sierra Leone, triggered warnings of panic withdrawals, Naija247news reports.The Bank of Sierra Leone said the Nigerian central bank's move will have no impact on Skye Bank (Sierra Leone) Ltd.
* Eight out of 10 analysts surveyed by Bloomberg Newsexpect the Bank of Ghana to maintain its benchmark interest rate at 26% at apolicy meeting today. The central bank last year raised the rate four times bya total of 500 basis points to support the country's currency.
CENTRAL AND SOUTHERN AFRICA
Sanlam unit acquires 49%of Firstglobal Asset Management:Graviton Financial Partners, a wholly owned subsidiary of 's ,acquired a 49% stake in Firstglobal Asset Management for an undisclosed amount,Independent Online writes.
* All 31 economists surveyed by Reuters expect the South African ReserveBank to keep its repo rate on hold at 7% this Thursday but will add 25 basispoints in November, BusinessDay notes. The central bank has raised interest rates by 200 basis points in thelast 2.5 years.
* Angolan Finance MinisterArmando Manuel led a series of meetings with international investors in Londonaimed at dispelling negative reports about the health of Angola's economy, Angopand Jornalde Angola report. During the meetings, officials sought to reassureinvestors about planned reforms aimed at improving efficiency and transparencyin the nation's crucial oil industry.
* Investment advisory firmsInstitutional Shareholder Services Inc. and Glass Lewis & Co. have advisedshareholders in Banco BPISA to lift a cap on voting rights to let CaixaBank SA take full control of the Portuguese lenderand reduce its exposure to Angolan assets in line with European regulations, Bloombergand Jornal de Negócios report.
* Mozambique's attorney general said budget laws were brokenwhen multimillion dollar loans were taken out by three state companies, warningthat an ongoing investigation had revealed evidence of abuse of office,Macauhub reports.Reuters, meanwhile, saidthe attorney general would enlist international help in the probe into thecauses of Mozambique's foreign debt crisis.
* FirstRandLtd. asset management unit Ashburton Investments is set to enterthe Namibian asset management industry, TheNamibia Economist writes. FNB Namibia Holdings intends to apply for an operating license toregister as an asset manager and establish Ashburton Investments in thecountry.
* Gabon's Poste Bank denied reports that it isfacing liquidation and confirmed that it is still operating, Financial Afrik reports.The bank said the rumors were baseless and not linked to any official source.
IN OTHER PARTS OF THE WORLD
Failed coup attempt in Turkey: The Turkish government has arrestedat least 6,000 people, including 29 of the country's top generals, after afailed coup attemptby military personnel over the weekend, Britain's The Guardian reports.The uprising, which started Friday, left at least 290 people dead and more than1,400 injured, accordingto CNN. President Recep Tayyip Erdogan urged the U.S. to arrest orextradite exiled Islamic cleric and former ally Fethullah Gulen, whosefollowers are accused of being linked to the botched coup attempt, CNN reports. Gulen's followers are closely linked to Turkish Islamic lender ,which is under control of Turkish banking regulator BDDK.
Leo Magno, Henni Abdelghani,Sophie Davies and Helen Poppercontributed to this report.
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