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

Robust economic growth to support Kuwaiti banks, says Moody's

Lending to single borrowers and volatile real-estate sector pose substantial risks

Dubai Islamic Bank shareholders approve Noor Bank acquisition

The deal comes after a wave of mergers in the UAE’s banking sector on the back of tougher competition and regulation, coupled with a slowing economy and a slide in house prices.

Path Solutions, Kuwait-based company launches its digital banking suite

The digital revolution is impacting every part of our lives; banking is becoming a competitive battlefield where only the most efficient, adaptive, and inventive survives.

Dubai bank Emirates NBD to reduce tariffs following UAE central bank initiative

Late last month, the UAE central bank urged banks to reschedule loans and reduce fees

Abu Dhabi-based banks report Dhs40.3bn net income in 2019

Last year Abu Dhabi Commercial Bank officially merged with Union National Bank and the combined entity acquired Al Hilal Bank

Abu Dhabi's FAB launches new payment service for merchants

Merchants can connect to the platform through a single API-driven integration

Family Bank in Bahrain opens Seef headquarters

The establishment of the Family Bank as a first social bank in Bahrain in 2010 aimed to boost the social security network

Standard Chartered sees 2019 MENA profits up 29%, warns of impact or coronavirus

British bank generates 68% if its revenue from Asia, particularly China

Dubai’s DIFC, Mashreq Bank launch bank account opening with KYC blockchain platform

The platform will make it easier for new companies to do business in the UAE, removing existing paper-based KYC processes

UBF to promote transformation, growth of UAE banking sector

The Federation has an Advisory Council consisting of 28 Bank CEOs which oversees the implementation of the policies

UAE banks invested Dhs141bn in Q4 2019 across the GCC

Saudi Arabia accounted for 54 per cent of the UAE’s total banking investment

Profitability at the UAE's four largest banks to remain resilient in 2020

The banks will benefit from solid public-sector loan growth this year, according to Moody’s

QIB named Qatar’s ‘Best Digital Bank’, awarded ‘Best Mobile Banking App’

QIB has been at the forefront of digital banking, transforming the Bank’s personal and corporate banking products, ultimately redefining banking habits in the country.

Trade Bank of Iraq showcases investment opportunities in Iraq at Global Trade Review MENA 2020 summit

Several infrastructure projects are underway in Iraq as the country continues to rebuild leading to several potential investment opportunities in the region especially in the power sector

Net Income of Al Baraka Banking Group reaches US$ 180 million in 2019, with total assets exceeding US$ 26 billion

Total assets increased to exceed US$ 26 billion at the end of December 2019 compared to end of December 2018.

Bank Muscat launches new $28.5mln Al Mazyona 2020 scheme

Bank Muscat has lined up the largest number of high-value prizes in the country with 6,677 winners all set to be rewarded for their savings habit in 2020

HSBC’s Saudi Arabia affiliate seeks to boost corporate lending

Saudi British Bank, which is 29 per cent owned by HSBC, completed the acquisition of Alawwal Bank last year to create the kingdom’s third-largest lender

First Abu Dhabi Bank expects to finish due-diligence on Bank Audi's Egypt business by Q2

United Arab Emirates’largest lender First Abu Dhabi Bank is in talks to potentially acquire the Egyptian subsidiary of Lebanon’s Bank Audi.

The Oldest Private Bank In UAE Taps Blockchain To Enhance Client Security

Aside from being the first UAE bank to install ATMs and the first to issue debit and credit cards, the large bank will lead in blockchain adoption in the region, as well.

UAE banks lay off 930 employees, close 49 branches

The Central Bank of the UAE says that it is monitoring the downsizing situation in the financial sector.

Retail Banking