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

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

Bank Dhofar makes offer to acquire 100% of competitor Ahli Bank

The lender withdraws its merger offer and intends to pursue the takeover deal

Boubyan launches “Premium” account for its high-net-worth clients

Al-Mejhem: The new account complements the lifestyle of this segment, meets all their daily needs

QIB receives ‘Best Retail Bank in Qatar’ award

And ‘Excellence in Customer Centricity & Excellence in Mobile Banking’ from MEED Magazine

Gulf Bank educates customers on borrowing and financing

In support of the Diraya “Let’s Be Aware” campaign

UAE ranks second globally in customer trust: UAE Banks Federation

Under the guidance of the Central Bank of the UAE, the UBF works to support, accelerate and develop the digital transformation of UBF member banks

Oman's Bank Dhofar outlines terms of revised non-binding merger offer to Ahli Bank

The proposed offer extends to all Ahli Bank shareholders, granting them the liberty to elect to receive up to 25% of their consideration in cash, with the remaining allocation disbursed through freshly issued Bank Dhofar shares

Bank credit to private sector in Oman grows 4.8% to OMR19.9bn

Regarding the investments of conventional banks in foreign securities, the CBO bulletin said that it increased by 23.7 percent to reach OMR900 million at the end of March 2023.

QNB named ‘Best CSR Bank’

This recognition reaffirms QNB’s commitment to the highest ESG performance standards through the development of sustainable business and operating models and adoption of the best-related practices.

National Bank of Fujairah takes home two MEA Finance Banking Technology Awards 2023

NBF recognised for its technology and innovation in tNBF recognised for its technology and innovation in the corporate banking sectorhe corporate banking sector

Nationalisation of jobs strategic priority: HSBC Qatar

One of the four pillars of HSBC’s strategy is to 'Energise for Growth

Oman's Ahli Bank mulls offer from Ominvest to acquire entire share capital

Ominvest to offer a base price of $0.48 per share

Dukhan Bank wins four accolades at MENA Banking Excellence Award 2023

The Bank’s virtual assistant ‘Rashid’ powered by artificial intelligence also won the ‘Best Multi-Channel Offering’ and ‘Excellence in Omni-Channel Integration’ for the second year in a row.

Saudi’s Arab National Bank to invest $38 million in Iraq to set up new bank

The Arab National Bank indicated that this investment aims to facilitate and support trade exchange for its customers, diversify sources of income, and enter new markets to benefit the bank and the shareholders.

Al Baraka Bank-Egypt records higher net profits in Q1-23

Net income from funds hiked to $33mln in Q1-23

Emirates Development Bank Named 'MENA SME Bank Of The Year' At MEED MENA Banking Excellence Awards

The Bank also has a mandate to deploy AED30 billion in financing support to 13,500 companies within its five priority sectors – renewables, manufacturing, technology, healthcare, and food security – by 2026.