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

QIB becomes the first Qatari bank to adopt equator principles

Through its ESG based risk management framework, the EPs support sustainable development efforts worldwide.

Dukhan Bank announces June winners of its Thara’a savings account prize

Cash prizes were also awarded

UAE bank investments hit all-time-high of $149bn

UAE bank investments are at an all-time high says CBUAE

Saudi: Bank Albilad provides final payment real estate financing

The Bank has emphasized the continuation of its efforts to offer innovative solutions and qualitative real estate financing programs aimed at providing housing options which perfectly suit the Saudi family’s needs

Dubai bank in green bond debut

The spread on CBD's bonds was set at 140 basis points over US Treasuries, tightened from initial guidance of 175 bps HSBC (0005) and Standard Chartered are joint global coordinators on the debt sale.

Ithmaar Bank Reports Q1 2023 Results

Total assets stood at BD2.08 billion as at 31 March 2023, 10% lower than BD2.31 bn as at 31 December 2022.

Goldman Sachs latest bank to expand in Gulf as balance of power shifts

Economic trends are incentivizing multinational banks and financial services firms to expand their operations in the Gulf region.

Gulf Bank and Ahli Bank of Kuwait call off merger talks

Lenders did not disclose the reasons for the move

Business confidence in largest Arab economies rises in May on robust economic momentum

Selling prices in Saudi Arabia rose at the quickest pace since August 2020 and optimism in the UAE improves further amid demand strength

Egypt seeks luring private investments from New Development Bank

The North African state is seeking to reinforce cooperation with the bank

Oman Arab Bank opens strategically relocated and enhanced Duqm branch in future economic hub

Strategically moved from its previous location that first opened in 2008

Saudi banking sector growth driven by mortgages: report

The rating agency noted that the government still held significant deposits with the Saudi Central Bank, also known as SAMA, amounting to SR637.5 billion ($170 billion) at the end of 2022.

UAE Central Bank issues rules to combat money laundering, terror financing

The guidelines align with the standards set by the Financial Action Task Force

Doha Bank announces launch of sustainable finance framework

Doha Bank is dedicated to fostering sustainable development and supporting the transition to a greener, more inclusive economy.

Capital Bank of Jordan : Wins Two Prestigious Awards

Capital Bank has also invested heavily in digital innovation

UAE banks’ Q1 profit surges 35%: Alvarez & Marsal

Incremental deposit growth outstripped credit growth for the first time since Q1’22 amidst monetary tightening

Banque Misr to secure $260mln loan from IFC for MSMEs in Egypt

The loan is scheduled to be signed off on June 30th

Omani banks set to benefit from improved conditions: Fitch

Fitch noted that Omani banks emerged from the Covid-19 pandemic with reasonable credit fundamentals which place the sector in a good position for improving profitability in 2023

NBK-Egypt reports KD 6.9 million in net profits

Al-Bahar emphasized that the continued growth of NBK-Egypt’s balance sheet

Warba Bank, Radisson Blu partner to offer ‘zero-profit financing’ for event hall rentals

Musaed Al-Mazyad, Deputy Chief Retail Banking Officer at Warba Bank, expressed his enthusiasm for this agreement