ICBC (601398.SH)MIDDLE EAST H1 PROFIT RISES 116 percent: The Industrial and Commercial Bank of China (ICBC) Middle East has posted a 116 percent rise in first-half profits to $14m. The unit of the largest bank of China's state-owned commercial banks, which launched its operations in the region in 2008, reported an 80 percent year-on-year increase in operating revenue to $19m, despite regional unrest and the continued global economic downturn.

LEBANON'S BBAC REPORTS $24.5M NET PROFIT FOR H1: Lebanon's BBAC bank posted an 11.4 percent rise in first-half consolidated net profit to $24.5m, compared with $22.0 million in the same period last year, the Daily Star has reported. Total operating income increased by a yearly 9.5 percent to reach $47.8m in the first half of 2011. Total operating expenses progressed by 17.2 percent, from $21.5m in the first half of 2010 to $25.2m in the first half of 2011.
 

Source:menafn