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

Oman Arab Bank finalises agreement to acquire Alizz Bank

The two Muscat-based lenders are set to proceed with a deal to create an institution with a combined asset base of over 3.2bn rials

KPMG: Saudi banks continue to be hyper-vigilant on credit underwriting, focus on asset protection

The Saudi banking sector has reported an average increase of 93.3% in expected credit losses (ECL) for the three months period, and significant declines in marked to market valuations since December 2019.

Doha Bank CEO underscores role of digitalisation during pandemic

Seetharaman also stressed that there is a need to “work on your revenue model, embrace the knowledge economy, and invest in the future.”

International Banker 2020 Middle East & Africa Awards Winners

Moody’s recently affirmed the ratings and assessments of 11 banks in Saudi Arabia.

Burgan Bank enhances customer experience with electronic virtual assistant "Banki"

Investing in emerging technologies and first-of-its-kind solutions that are transforming the banking sector

Commercial Bank of Dubai allows foreign ownership of its shares

Foreigners will be allowed to hold up to 40% of CBD stock from June 14 as it looks to widen liquidity pool

Turkish banks' short-term funding fix poses risks in COVID-19 aftermath

$80 bln in short-term FX debt maturing - Hermes analyst

Kuwait banks yet to decide on distribution of cash dividends for 2020

The lenders were reacting to a directive from the Kuwait Banking Association on Wednesday to not distribute dividends this year to preserve cash

Resilience keeps Qatar banks on track for growth

The bank’s aggregated loans and advances reached QR1.16 trillion, growing 23.7 percent considering the three-year period to Q1 2017.

Jordan Kuwait Bank Adapts to New Normal With Citrix

Financial institution to extend use of remote work solutions across 1,300 employees to maintain operations

Seven Bahraini firms among top 100 companies in Middle East

Saudi Arabia dominates the list with 33 companies

BankDhofar shareholders ratify OMR1 million CSR donation for COVID-19

The meeting brought to the attention of shareholders the cash dividend distributed to the shareholders on March 25, 2020

First Abu Dhabi Bank issues 'green bond' in Hong Kong dollars

UAE mega-bank has been working on its green credentials over last three years

Shams, Mashreq Bank announce partnership to support SMEs in Sharjah

Mashreq Bank will help SMEs and new entrepreneurs to open business account

Egyptian state banks collect over $10bn from high-yield savings product

An official at the National Bank of Egypt said it had collected 122 billion pounds, while Banque Misr’s chairman said it had gathered 49 billion pounds, state news agency MENA reported.

Private deposits in commercial banks rise by 8.8%

The combined money and clearance to the gross deposits was 7.6 per cent.

Higher provisions led to plunge in top UAE banks' Q1 profit

Lenders safeguard themselves against a looming deterioration in credit quality due to COVID-19

Saudi banks face tough few quarters but are well capitalised, say CEOs

Banks face a tough few quarters as the coronavirus crisis and weak oil prices put pressure on profitability

Dubai Islamic Bank to revive Islamic bond deal postponed amid market turmoil - sources

The bank is now considering issuing the bond soon

Bahrain’s banking sector posts 1.8% growth

The local banking sector continues to prove strength and resilience

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