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

Top ten UAE banks’ Q2 profits surged 21.2 per cent compared to Q1

Net interest margin witnessed contraction as cost efficiency improved

Qatar banks’ assets expand in double digit in July on robust credit offtake

The commercial banks’ domestic credit expanded more than 12% year-on-year to QR1.01trn; whereas overseas credit fell about 7% to QR72.74bn in the review period.

UAE bank profits signal slow recovery for Q3: A&M

Despite challenging market conditions, the banks witnessed a fringe surge in loans and advances, and deposit growth. This has added liquidity in the banking system.

UAE- ADJD launches digital money order for disbursement of deposits

The innovation is likely to speed up the bank transfers and expedite remittance of their dues to the court users in an easy and simple way.

National Bank of Fujairah launches the first-of-its-kind SME community platform in the UAE

NBF Connect will serve as a collaborative ecosystem and a one-stop-shop for SMEs with partners including Etisalat and Visa

Commercial Bank wins Finance Monthly's CFO Award for 2020

Rehan Khan, winner of this year’s CFO Award, joined Commercial Bank as Chief Financial Officer in 2013 and is also a director of Commercial Bank subsidiaries Orient 1, CBQ Finance, CB Global and CB Financial Services.

QDB extends coverage period of National Response Guarantee Program

QDB stated that companies wishing to benefit from the programme must be fully owned by private sector and registered in the wage protection system in force in Qatar.

Rania Nashar wins Distinguished Arab Woman Award in the field of economics and banking

Nashar becomes the first Arab woman to win this award in this field since its launch by the Arab League in 2004.

First Abu Dhabi Bank extends Dh3.97b as rebates to small businesses

These relate to service fees charged on credit card transactions between April to June

Rising provisions take toll on Saudi bank profits in first half of 2020

Moody’s expect further asset quality deterioration this year

UAE national banks’ assets hit $816bn in H1

Loans also witnessed growth, climbing 8 percent from AED1.509 billion to AED1.629 billion during the reference period.

Saudi public banks report 10% drop in H1 profits

The aggregate ratio of net income to assets was strong at 1.6%, but down from 2.1% in first half 2019 and 1.9% in 2019.

Bank Nizwa records 37% growth in net profits

The bank’s performance is quite commendable as it has been achieved under an extremely challenging Covid-19 affected market environment.

Burgan Bank Announces First Quarter and Half Year Results of 2020

Burgan’s Net Income reduced due to higher provisioning in response to the Covid-19 pandemic.

Qatar- QNB earns two prestigious GBO awards

The Global Business Outlook awards aim to recognize and reward excellence in business to companies all over the globe, both in the public and private sectors.

UAE banks headed for more job losses in second half of 2020

Shrinking interest margins and non-interest incomes force banks to cut costs further

EBRD provides Banque Misr with $100M loan BY

Minister of International Cooperation Rania al-Mashat stated earlier that cooperation volume between Egypt and the European Bank for Reconstruction and Development amounts to €6.5 billion through 115 projects.

QIB rewards cardholders with additional Absher points

As part of the campaign, top 1,000 customers’ cardholders will get a free subscription to QIB-MyBook App

SABB’s Waafer savings account voted ‘product of the year

Waafer was launched last year as an alternative to traditional savings accounts.

National Bank of Bahrain Wins Middle East’s Best Bank Transformation Award

Investments in human capital development have been fundamental to achieving the Bank’s vision, with a major part of its transformation focus being the re-engineering and upskilling of its internal talent pool.

Retail Banking