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MarketScreener Homepage  >  Equities  >  Kuwait Stock Exchange  >  Boubyan Bank K.S.C.P.    BOUBYAN   KW0EQ0102065

BOUBYAN BANK K.S.C.P.

(BOUBYAN)
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Boubyan Bank KSC : Britain's BLME eyes 15 pct asset growth, stronger Gulf ties - CEO

05/17/2013 | 12:41am EST

SYDNEY (Reuters) - The Bank of London and The Middle East (BLME), Britain's largest standalone Islamic bank, is targeting 15 percent growth in assets this year, with plans for a Dubai office to help boost its capital markets and wealth management offerings.

BLME plans to have a presence in the emirate's offshore financial district later this year to attract regional business from countries such as Qatar and Saudi Arabia, chief executive Humphrey Percy told Reuters in an interview.

"Our Dubai office will help identify opportunities for club transactions, syndications and for our wealth management offering," Percy said.

There are no plans for seeking a full branch license or a presence in other countries, he added.

BLME, which offers corporate banking and wealth management services, has carved a niche in middle-market transactions while benefiting from limited Gulf-based competitors and reduced activity from large British banking groups, he said.

The bank expects double-digit asset growth in coming years, with its balance sheet growing past 1 billion pounds ($1.6 billion) by December 2012, up from 807 million pounds in 2011.

"We target 15 percent growth in assets this year, with ambitious targets from there onwards."

The bank was founded in 2006 with the backing of Kuwaiti investors, including Boubyan Bank, which held 21.8 percent of BLME shares as of December 2012.

The bank returned to profitability in 2012, posting a net operating profit of 5.5 million pounds, after a 10.8 million loss in 2011.

Focus areas include healthcare, transportation and real estate, where BLME is further diversified across property development, investment holdings and residential financing.

"At this point in the cycle, real estate development is attractive and showing good results," he added.

The bank holds over $100 million in assets under management across a range of Islamic funds, including a fixed income fund rated A by Moody's.

In October, Australian fund manager Crescent Wealth appointed BLME as the investment sub-adviser to its Islamic cash fund.

(Editing by Kim Coghill)

By Bernardo Vizcaino


© Reuters 2013
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Financials
Sales 2020 162 M 536 M 536 M
Net income 2020 36,3 M 120 M 120 M
Net Debt 2020 - - -
P/E ratio 2020 44,1x
Yield 2020 -
Capitalization 1 735 M 5 727 M 5 736 M
Capi. / Sales 2020 10,7x
Capi. / Sales 2021 9,66x
Nbr of Employees -
Free-Float 30,4%
Chart BOUBYAN BANK K.S.C.P.
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Boubyan Bank K.S.C.P. Technical Analysis Chart | BOUBYAN | KW0EQ0102065 | MarketScreener
Technical analysis trends BOUBYAN BANK K.S.C.P.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 3
Average target price 0,48 KWD
Last Close Price 0,57 KWD
Spread / Highest target 4,71%
Spread / Average Target -16,8%
Spread / Lowest Target -45,9%
EPS Revisions
Managers and Directors
NameTitle
Adel Abdul Wahab Al-Majed Vice Chairman & Group Chief Executive Officer
Mahmoud Yousef Al-Fulaij Non-Executive Chairman
Abdullah Ahmed Al-Mehri Chief Operating Officer
Abdul Aziz Abdullah Dakheel Al-Shaya Non-Executive Director
Hazim Ali Meshari Al-Mutairi Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
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