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

Why UAE banks are in no rush towards consolidation

Currently there are 21 local banks in the UAE and 27 full commercial foreign banks, serving a population of roughly 9.4 million people.

HSBC to phase out coal funding on shareholder pressure

‘HSBC today announces it will propose a special resolution on climate change’

Hapoalim net profit up 14% in 2020

As of the end of 2020, deferred loans and mortgages amounted to NIS 42.5 billion but by the end of January 2021

Alawwal Bank, SABB merger targeted to complete on March 14

Alawwal Bank’s accounts and services will be transferred to the two banks’ enhanced, single banking proposition

Abu Dhabi Commercial Bank -- Moody's - Large UAE banks see sharp but manageable drop in profits for 2020, driven by low rates and rising provisions

Aggregate provisions surged by 72%, mainly driven by higher problem loans and anticipation of higher loan losses ahead.

Emirates NBD integrates website with UAE PASS for seamless digital account opening

Users will now be able to log in with their UAE PASS credentials when signing up for a new Emirates NBD account and forms will be automatically completed with their details along with auto-uploading of documents, thus saving time and effort.

Still much needs doing to digitally connect 2 billion of world's unbanked

Digital and fintech can smooth out processes to deliver cash to the truly needy

MID Bank launches new brand in Egyptian market

Bank boasts integrated strategy to develop various business sectors, grow and support financial position, whilst maximising profits, says Amr El-Garhy

Al Salam Bank Bahrain wins JP Morgan quality award 2020

The award was presented to Al Salam Bank - Bahrain Group CEO Rafik Nayed by the Vice Chairman of Wholesale Payments & Senior Country Officer at JP Morgan Ali Moosa.

Top 10 UAE banks’ profits shrunk 40% in 2020: A&M

Less volatile year seen, but with potential spike in provisions in second-half

Bahrain bank waives loan fees for customers having had COVID-19 vaccine

Al Salam Bank is also offering a range of financial services, such as those related to the Mazaya social housing program

Bank of Bahrain and Kuwait B S C : Unique Financial Mall Offering 24/7 Services

Developing innovative digital banking solutions to meet the needs of our customers based on an in-depth understanding of their requirements and a continuous focus on providing advanced banking services.

Turkey's non-state banks have the edge in 2021 amid lira volatility, high rates

Turkey is an attractive market for several large European and Middle East lenders

First Abu Dhabi Bank’s Acquisition of Bank Audi Sae

Dechert LLP advised Bank Audi sal on the deal.

UAE's first independent digital banking platform launches

YAP do not have physical branches, does not offer traditional banking services like loans and mortgages, but offers spending and budgeting analytics

Qatari banks defy pandemic's impact on 2020 earnings

Net profit resilient despite higher provisioning charges and pressure on asset yields

Starling Bank Attains Unicorn Status With Latest $373 Million Share Sale

Sky News quoted unidentified sources as having said Starling's leadership wants to use the new capital to expand the bank beyond the British Isles into Continental Europe.

Dukhan Bank announces its 2020 financial results

Net operating profits record QAR 1 billion with a growth rate of 33%

Middle East businesses wanting to enhance their ESG agenda encouraged to sign up to 'Living Business'

The programme, organised by Globally, Get in the Ring and HSBC, aims to improve the sustainability of businesses by helping them deliver a significant ESG enhancement initiative

Qatar economy expected to bounce back to 2.5% growth in 2021, 3.9% in 2022: Lloyds Bank

Current account surplus narrowed to 2.4% of GDP in 2019 from 9.1% a year earlier as global energy prices fell.

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