Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

Middle East corporate banks: Digital laggards risk seeing profits drop by 15-30% compared to digital leaders

The Boston Consulting Group's recent survey of corporate-banking customers worldwide indicates that, over the next five years

Mideast banks play catch up in digitisation game

Digital laggards risk seeing profits drop by 15-30 per cent relative to early adopters

Kuwait's KIPCO says Q4 net profit rises by 10.7%

The regional investment house, with stakes in media, industrial, financial and real estate companies, will pay a cash dividend for 2015 of 25 percent

Adnic latest UAE insurer to report losses

Oman Insurance Company, the biggest insurer in the UAE by market share, last week posted a loss of Dh31m in the fourth quarter of last year

Faisal Islamic Bank's volume of business surges 7.4% in January

In addition, the bank's current accounts and saving pools rose 7.5% to record 49.494 billion, compared to 46.048 billion in the same period of the previous year.

Emirates NBD posts $1.9bn profit for 2015

“Asset growth, an increase in income, a control on expenses and a significant improvement in the cost of risk have all contributed to our strong operating performance, with total income growing 5 per cent"

UAE bank results point to rising pressure on profits

Surging provisions to squeeze profits of the majority of lenders

Amlak Finance reports Dh139m profit for 2015

The lender did not provide any breakdown of revenue for its core Islamic finance business.

UDC releases the year 2015 Financial Results

UDC targets investment opportunities in real estate, urban development and infrastructure with positive returns to shareholders.

Bank ABC Announces 2015 Net Profit of US$180 Million

Net profit for the fourth quarter was US$36 million, 39% lower than the US$59 million reported for the same period last year.

Shuaa Capital Q4 profit surge offset by full-year loss

Its full-year revenue was Dh178.2m compared with Dh213.4m in 2014.

Dubai Holding unit's net profit up 25pc

The group's total revenues were up 15 per cent at 14.53 billion compared to 12.63 billion a year ago

KFH furthers focus on profitability, recaps 2015 financial records

KFH’s total provisions at the end of 2015 reached KD 668 million, which was an increase of 1.83 percent over the same period last year.

ABK records KD 30.4 mn net profit for 2015

ABK will continue its conservative policy of provisioning during 2016.

Bahrain Middle East Bank net profit up 12 per cent to $5 million

Bahrain Middle East Bank reported profits for 2015 of $5.079 million, up 12 per cent. The results were helped by a reduction in net impairment provisions, down from $2.5 million in 2014 to just under $2 million in 2015.

Emaar’s 2015 net profit rises 11% to over Dh4 billion

Full-year revenue grows 33% to Dh13.661 billion

Jordan Islamic Bank pre-tax profits up 17 per cent

Growth in total assets reached around 8.2 per cent amounting to about $5.88 billion.

Debt write-offs lead to loss at CBI

The bank said after the stock market closed yesterday that it booked a loss of Dh466.6 million after it reduced its non-performing loans by Dh1.38bn to Dh983m last year.

Bahrain's Investcorp H1 net profit rises 12 pct

Founded in 1982, making it one of the oldest Middle Eastern private equity houses, Investcorp is best known in the global space for listing luxury goods brands

Al- Dawli realizes 17% growth in net profit for 2015 – KIB’s financial income grew to 63.2 million: Al-Jarrah Al-Sabah

On the other hand, total expenditures reached KD26.8 million compared to KD25.4 million, i.e an increase of 6 percent compared to the previous year.

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