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

First Abu Dhabi Bank's 2017 profit crimped by merger costs

It said it had achieved around 500 million dirhams of cost synergies in the first year of integration, adding that it was evaluating its local activities and branch network.

Qatar's Commercial Bank reports Q4 profit jump, beating two forecasts

Commercial Bank is in talks with banks about a syndicated loan of up to $500 million, Reuters reported on Sunday, citing sources, with one saying the bank was also considering bonds as part of its normal funding pattern.

Abu Dhabi Commercial Bank Q4 net profit up 7%

Results bolstered by a rise in net interest and Islamic financing income

Commercial Bank of Qatar in talks about potential loan -sources

The rift involved the latter four cutting diplomatic and transport ties with Doha and led to banks from those countries pulling funds out of Qatar.

Arab Bank Group reports net profits of $533 million

The Board of Directors has recommended to the shareholders the distribution of 30pc cash dividends for the financial year 2017.

Kuwait Finance House's fourth-quarter net profit flat

Net profit was $154.6 million in the three months to Dec. 31

Jordan's Arab Bank group says 2017 net profit unchanged at $533mln

Total loans rose 6 percent to $25.1 billion while deposits rose slightly to $33.8 billion

HSBC sidesteps high-profile Qatar deals in Gulf gauntlet

The move initially hit Qatar’s growth but by the end of 2017 its economy had largely recovered.

Saudi bank merger outlook to be clear by end-Q1 -central bank chief

Earlier this month, sources told Reuters the merger had been delayed but not derailed in part because the Saudi regulatory environment for bank acquisitions was relatively untested.

BMI Investment Arm to Sell Shares in 30 Firms

The law mandates all banks and financial institutions to privatize at least 33% of their excess assets every year, especially those engaged in “non-banking activities”.

Qatar's Doha Bank Q4 net profit surges 76.4 pct

The bank said the board was recommending distributing a cash dividend of 3 riyals per share for 2017, the same as the previous year.

Doha Bank ETF to hit market next month

The QETF will invest and replicate the Qatar Index largest 20 companies in terms of market capitalization and liquid listings.

Emirates NBD issues $285 million Formosa bond

Emirates NBD, majority owned by Dubai's Investment Corporation, reported a 17 percent rise in fourth-quarter net profit last week boosted by loan growth, interest rate rises and higher sales.

Doha Bank sees 5%-7% profit growth in 2018 despite standoff

Market momentum, project expansions, non-hydrocarbon growth and a “good budget” are all factors that will help growth, Seetharaman said.

QIIB’s 2017 net profit rises 6% to QR832mn

The government’s policies have turned the blockade into an opportunity and the actions taken by the QCB have contributed to the sector’s financial stability and helped it overcome any effects or consequences of the blockade.

DIB brings first GCC bank paper this year

The deal could be the first bank bond from the Gulf Cooperation Council so far this year.

Doha Bank launches new fixed deposit scheme

Customers can choose from deposit tenures ranging from two to five years for their Al Jana 7 term deposits.

NBK reports KD 322 mln in '17

The NBK Board of Directors proposed the distribution of 30 fils per share cash dividend, representing 30 percent of the nominal share value.

Alinma Bank unveils E-Payment Gateway service

The new service can be accessed by customers having a current account with the bank.

SABB named ‘Best Trade Finance Service Provider’ by Euromoney

The feedback takes into consideration corporates’ view on their banks' ability in providing Trade Finance products, solutions and quality of services.

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