Jan. 26--BANKDHOFAR WINS HAWKAMAH PRIZE: BankDhofar has received the award for distinguished corporate governance practices from Hawkamah, the institute of corporate governance and the Union of Arab Banks. The award was presented at the Regional 2008 Bank Corporate Governance Awards ceremony held in Dubai. The Regional Bank Corporate Governance Award aims to promote transparency and integrity within the banking sector in the Arab world.

SAUDI NCB REPORTS Q4 LOSS: National Commercial Bank (NCB), Saudi Arabia's largest bank by assets, made a net loss of $680m in the fourth quarter. The bank has blamed provisions for its investments for the poor performance.

AL AHLI OPENS ABU DHABI BRANCH: Kuwait's Al Ahli Bank (ABK) has opened a branch in Abu Dhabi. This is the first Kuwaiti bank to begin operations in the emirate. While ABK will initially cater to its corporate clients and offer services including trade financing for major projects in Abu Dhabi and the UAE, the branch will also be available to service its retail banking clientele.

NCB POSTS $680M LOSS IN Q4: National Commercial Bank, Saudi Arabia's largest bank by assets, said it made a net loss of 2.55 billion riyals ($680m) in the fourth quarter. The bank has blamed provisions for its investments for the poor performance.

ADCB TO CONTINUE INFRASTRUCTURE FINANCE: Abu Dhabi Commercial Bank (ADCB) has said that it will continue to provide lending facilities for infrastructure projects in Abu Dhabi. The bank will also continue to be involved with small and medium enterprises and retail businesses in the UAE, but it would lend to other sectors with discretion.

BURGAN, UGB DEAL CONTINUES: Burgan Bank and United Gulf Bank (UGB) have announced in a press statement that an earlier transaction between the two banks will proceed as Burgan will purchase three regional commercial banks from UGB. Burgan Bank had earlier announced it will purchase stakes in Jordan Kuwait Bank, Algeria Gulf Bank, Bank of Baghdad and Tunis International Bank from UGB.

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