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

UAE-based RAKBANK repays $800mln bond

Proceeds from the issue along with other internal sources were used to pay back the bond maturing in June 2019

Bank ABC first to launch biometric identification

The bank said in a statement that with this it has become the first in the Middle East

Commercial banks’ total assets grow 6% to QR1.43tn at end-May: QCB

The higher growth in credit to the private sector shows the resiliency in the overall economy especially outside the hydrocarbons, even amidst the economic blockade, market sources said.

Emirates Development Bank to 'significantly' boost SME lending

The lender also plans to issue a benchmark-sized sukuk next year

Incredible Financial Growth of Middle East Consumer Banking Market by 2025

The forecast period considered by the analysts of this publication is 2019-2025 and the review period is 2014-2018.

KHCB Backs Centenary Of Formal Education Forum

“KHCB will spare no effort and continue supporting initiatives that serve the educational and learning processes in Bahrain, considering the significance of this field in achieving sustainable development in the kingdom,” Algosaibi added.

Saudi banking sector net profit up 11.3pc in 2018

Average net profitability improved, underpinned by higher average SAIBOR rates, modest growth in assets and a slight decrease in costs.

Sharjah Islamic Bank appoints banks for Tier 1 perpetual sukuk

A series of roadshow meetings are being organised in Singapore, Hong Kong and London starting June 19

Sharjah Islamic Bank mandates banks for capital boosting sukuk

The planned deal will boost the bank’s Tier 1 core capital, the document showed, confirming what sources told Reuters last week.

Leading Israeli Bank in the US Strengthens Ties and Opportunities at Home

Today, IDB is among the 25 largest commercial banks in the New York metropolitan area, while its parent company, Discount Bank Ltd., runs some 260 branches across Israel.

RBS expects capital boost from Saudi bank merger

RBS said the merger would increase its Common Equity Tier 1 capital ratio--a key measure of balance-sheet strength--by 60 basis points compared with its position as of March 31.

Sabb completes merger with Alawwal Bank creating third-largest Saudi lender

Integration of the two banks will take up to two years

Second merger wave may hit UAE lenders as industry shrinks

Analysts said that the absence of common shareholders and a lack of cross-Emirate deals have so far hindered transactions.

NBK launches the World's First Full Metal NFC-enabled Visa Credit Card

In Collaboration with Visa

UAE's Sharjah Islamic Bank readies capital-boosting dollar sukuk

Its board approved earlier this year the issuance of sharia-compliant Tier 1 instruments for up to 2.8 billion dirhams ($762 million), to strengthen the bank's capital adequacy ratios.

Standard Chartered innovation fund eyes FinTech investments in the region

The lender is building a venture portfolio focused on digital transformation in finance

Emirates NBD turns to SAS to oversee its digital transformation journey

With a total assets of around $136 billion, the Emirates NBD Group has a significant retail banking franchise in the United Arab Emirates.

Open account in Riyad Bank without visiting branch

Riyad Bank makes great efforts to provide the best and latest banking services through advanced digital channels, where the bank is always keen to develop its digital channels and protection systems to meet the customers’ needs and interests.

All major Gulf markets perform strongly

Qatar is sharply ahead on local retail accumulation as we go through the 1:10 stock split, said Bhandari.

RAKBANK and Newgen Software Win the Best Branch Digitization Initiative Awards, 2019

"This award is a testament to RAKBANK's continuous efforts to innovate and provide high-quality service to its customers and we would like to extend our gratitude to Newgen Software for helping us achieve this milestone," he added.

Retail Banking