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

Ithmaar Bank re-launches Thimaar savings account

Ithmaar Bank is committed to becoming the retail bank of choice,” said Ithmaar Bank Deputy Chief Executive Officer, Abdul Hakeem Al Mutawa.

Bank Audi sal and FAB sign definitive agreement for the sale and purchase of 100% of Bank Audi sae (Egypt)’s share capital

The transaction is expected to be completed within the next few months, following the satisfaction of customary conditions, including the receipt of regulatory approvals in the UAE and Egypt.

Riyad Bank plans to launch up to $2.67bn sukuk progam

The purpose of the program is to strengthen the bank's capital base

Crédit Agricole Egypt signs a cooperation protocol with Dsquares to launch the first loyalty program availing online redemption

The new program reflects the bank's strategy to achieve customers' satisfaction

FAB launches 2021 Global Investment Outlook Report

First Abu Dhabi Bank has published its 2021 Global Investment Outlook Report: ‘Paving the path for our investors to grow stronger’.

Emirates NBD sees increased remittances via 60 second DirectRemit service

Bank records rise in DirectRemit transfers as customers switch to digital platforms

Qatar banks’ assets rose by 3.7% in first nine months of 2020: PwC

In the report, PwC added that Qatar’s financial institutions are accelerating transformation programmes to build financial institutions of the future aimed at increasing cost efficiencies and lending activities by reaching out to new customer segmen

Qatari bank sees gradual growth in Saudi Arabia

Qatar National Bank expects its business in Saudi Arabia will pick up only gradually after reviving its Riyadh branch

QIB net profit rises to QR3.07bn in 2020

Total Assets of the Bank has increased by 6.6 percent compared to 2019 and now stands at QR174.4bn driven by a growth in the core banking activities.

Ahlibank net profit rises to QR680.06m in 2020

This demonstrates a continued vote of confidence from international investors in both Qatar and Ahlibank.

Abu Dhabi market leads broader gains

First Abu Dhabi Bank was the best performer on the benchmark, adding about 8%.

HSBC MENAT eyes growth opportunities as GDP, trade rebound

HSBC has ambitious plans for growth in MENAT

Bank Muscat posts net profit of OMR163.36 million

Net loans and advances including Islamic financing receivables increased marginally by 0.5 per cent to OMR8,918 million as against OMR8,878 million as of December 31, 2019.

Israeli lenders Hapoalim and Leumi sign accords with National Bank of Bahrain

in both nations to tighten economic ties

Bank ABC enters agreement to acquire Blom Bank Egypt

The acquisition is expected to complete in Q2 2021, and a further announcement will be made at that time.

Dukhan Bank names winner of its QR1m Thara’a grand prize

Based on several criteria, Thara’a account holders are eligible for a number of periodic draws for cash prizes.

Bank ABC acquires Blom Bank Egypt for $480 million - sources

The Bahrain-based bank has an Egyptian subsidiary, Bank ABC Egypt, in which it owns a 93% stake.

QNB’s total assets reach QR1 trillion

Operating Income increased by 1 percent compared to last year despite the impact of COVID-19 and the decline in oil prices.

Qatar National Bank profits drop 16% as loan loss provisions rise

The profit was slightly above the mean forecast of 11.7 billion riyals by seven analysts, based on Refinitiv data.

HSBC launches Voice ID

The new form of verification aims to make the process easier for customers by reducing the need to memorise PINs and answer additional security questions.

Retail Banking