* Africa emerged as the global banking industry's second-most-profitable region, and the second-fastest in terms of growth, according to a study by McKinsey & Co. The return on equity of the continent's banks stood at 14.9% in 2017, second only to Latin America.
* The African Export-Import Bank intends to raise $200 million in equity by the third quarter through the listing of some 67 million existing depository receipts on the Nigerian Stock Exchange, Bloomberg News reported. The Egypt-based lender is also considering listing in two other African countries.
MIDDLE EAST AND NORTH AFRICA
* Bank Hapoalim BM will set aside a further $75 million in provisions to settle a U.S. investigation into allegations that it helped Americans evade taxes, taking its total provisions for the probe to $343 million.
* More than 10 foreign stock exchanges are interested in acquiring a controlling stake in the Tel Aviv Stock Exchange, an insider told Reuters. Exchanges in London, Hong Kong and Singapore are said to be among the potential buyers, according to Israeli media.
* Banque Misr SAE Vice Chairman Atef el-Maghraby said the lender plans to raise 10 billion Egyptian pounds by selling stakes in six companies, including its 10.78% stake in Jordan-based Cairo Amman Bank, a part of its 100% shareholding in Banque du Caire SAE and its 2% stake in Saudi Arabia-based Samba Financial Group, in a bid to bolster liquidity, Bloomberg wrote. El-Maghraby added that Banque du Caire's IPO is expected to be finalized in the fourth quarter at the earliest.
* The Qatar Central Bank is studying the proposed three-way merger of Masraf Al Rayan QPSC, Barwa Bank QSC and International Bank of Qatar (QSC), Bloomberg reported, citing Masraf Chairman Hussain al-Abdulla. The deal, which would create Qatar's largest Shariah-compliant bank, would be completed after obtaining the necessary regulatory approvals, Al-Abdulla said.
* S&P Global Ratings revised its outlook on the BBB issuer credit and insurer financial strength ratings of SEIB Insurance & Reinsurance Co. LLC to stable from positive, while affirming the Qatar-based insurer's "gcAA" Gulf Cooperation Council regional scale rating.
* The Saudi Arabian Monetary Authority approved Metlife - AIG - ANB Cooperative Insurance Co.'s planned capital reduction to 180 million Saudi Arabian riyals from 350 million riyals.
* Saudi Arabia's Capital Market Authority granted Watheeq Financial Services Co. a license to conduct private non-real-estate investment fund management, sophisticated investor portfolio management, arranging, and advising activities in the securities business.
* Abraaj Group Ltd. has suspended fundraising for a new $6 billion fund, insiders told Reuters. The move comes as the United Arab Emirates-based private equity firm reorganizes its business following claims by some investors that it had misused funds in its healthcare fund.
* Bahrain's parliament officially withdrew a bill that sought to prohibit all banks from charging interest and effectively force them to adopt Shariah-compliant practices, out of concerns that passing the bill would put the local banking sector at risk, according to Gulf Daily News.
* Bank Dhofar SAOG became the first Omani lender to join blockchain consortium BankChain.
* Al Madina Insurance Co. SAOG's board recommended the cash dividend distribution of 4 Omani baizas per share for 2017.
* Warba Bank KSCP is studying increasing its capital from 100 million Kuwaiti dinars currently, Al Jarida reported.
* Fitch Ratings revised the outlooks on Bank of Jordan Plc, Jordan Islamic Bank and Arab Bank Plc to stable from negative. The agency also downgraded Arab Bank's long-term issuer default rating to BB from BB+ and its viability rating to "bb" from "bb+".
EAST AND WEST AFRICA
* Nigeria-based United Bank for Africa Plc signed a seven-year, $100 million loan agreement with China Development Bank
CENTRAL AND SOUTHERN AFRICA
* The Bank of Mauritius maintained the key repo rate at 3.50% per annum.
* The South African Registrar of Banks approved FirstRand Ltd.'s acquisition of U.K.-based Aldermore Group Plc.
* Capital Intelligence Ratings lowered Investec Bank Ltd.'s long-term foreign-currency rating to BBB- from BBB and revised the outlook on its financial strength rating to negative.
* The IMF does not expect Mozambique to be able to make payments on about $2 billion in defaulted loans for at least five more years, Bloomberg reported.
* The finance ministers of the Economic and Monetary Community of Central Africa have mandated the Bank of Central African States to lead the planned merger of the Central African Securities Exchange in Gabon and the Douala Stock Exchange in Cameroon, according to Agence Ecofin.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: Resona to buy back ¥101.6B of shares; 2 Indian firms may launch IPOs in March
Europe: Deutsche Bank settles LIBOR case; Sberbank, Erste post YOY rise in FY'17 profits
Latin America: Q4 profits rise for BTG, Sul América; Itaú CorpBanca posts net loss
North America: Goldman Sachs targets middle class with new products; Ocwen buying PHH for $360M
North America Insurance: Alphabet unit in talks for insurance push; commercial insurance prices rise
NOW FEATURED ON S&P GLOBAL MARKET INTELLIGENCE
Qatari banks face higher costs as diplomatic crisis looks to drag on: The gulf state's banks have largely shrugged off liquidity concerns sparked by the Saudi Arabia-led coalition's embargo against Qatar, but they face higher funding and risk costs as the feud continues, analysts told S&P Global Market Intelligence.
Leo Magno, Henni Abdelghani, Sophie Davies and Mariana Aldano contributed to this report.
The Daily Dose Middle East and Africa has an editorial deadline of 4 a.m. London time. Some external links may require a subscription. S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.
