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

RAKBANK chief forecasts turnaround in 2017

RAK Bank reported a more than 40 per cent drop in net profit in the second quarter to June

The United Bank to be sold late 2016, early 2017: chairperson

However, it did not grant approval to any of these institutions to conduct the technical due diligence of the bank.

Abu Dhabi's Waha Capital secures $500 mln revolving credit facility

The funds replace a previous $375 million revolving facility obtained in 2014, it said in the statement.

Doha Bank Kochi– Kerala Branch inauguration by Hon’ble Chief Minister of Kerala

Doha Bank is set to inaugurate the state of the art branch in Kochi, the only branch of a GCC based bank in India. Kochi branch will be located in the LULU International shopping Mall at Edapally.

Al Omaniya ends talks for Diners Club credit card business

Al Omaniya had initiated a preliminary discussion with Commercial Bank to explore the possibility of acquiring the Diners Club credit card business in the sultanate, which was subject to regulatory approvals.

China’s ICBC boosts Saudi lending with $600mn Zain facility

The two-year dollar loan, which may be extended by another year, will cut costs by about 175mn riyals over the full period.

Al-Baraka Bank ready to purchase Burj Bank; final approval on Aug 22

The ABPL will finalise this merger in the 9th Extraordinary General Meeting of the shareholders next Monday, in which, the shareholders will give final approval to the scheme of amalgamation.

GIB reports $41.7 million first half profit

The year-on-year increase in the Bank’s core income reflects the successful progress in the implementation of the new business strategy to transform GIB into a leading pan-GCC universal bank providing innovative customer-centric solutions.

Commercial Bank of Kuwait H1 profits down by almost one-third

Commercial Bank of Kuwait reported H1 profits down 31 per cent at KWD 11.5 million.

Banking measures aiming to serve Bahrainis with special needs

Bahrain’s retail banks have been instructed to equip one of their branches to serve people with special needs, alongside other customers.

Banque Saudi Fransi Partners with Kaspersky Lab to make online financial transactions safer for users

The bank is committed to protecting its customers from online security threats and increasing cyber security awareness throughout the region.

Doha Bank bags Qatar Domestic Trade Finance Bank of the Year award

Best performing banks from 22 countries recognized

KHCB reports BD 4.22 m net profit in first half

This action reflects the conservative strategy that the bank has adopted for years.

ADCB wins three accolades for Retail and Commercial Banking by the Asian Banking and Finance Awards2016

ADCB was also recognized in theretail banking sectorwith the “Retail Innovation of the Year” award for its introductionof the Voice Biometrics initiative “ADCB VoicePass”, a first in the region.

CBI reports AED 68.7 million net profit in H1 2016

Our strategy is on track, and CBI continues to attract new customers through having the speed and agility of a small bank, and the stability and security of a big bank through our relationship with QNB."

Egypt’s CIB reports higher net income, revenues in Q2

The bank had consolidated net income of 1.46 billion Egyptian pounds

NBAD CEO Alex Thursby won't be part of merged banks' leadership

Thursby was appointed Group CEO of NBAD on July 1, 2013, joining the lender from ANZ Bank where he was CEO of International and Institutional Banking.

United National Bank To Provide Mortgage For Misr Italia Clients

The new protocol grants Misr Italia clients unprecedented financing privileges, it includes various packages that satisfy all the client's needs with long payment period, low interest rates and monthly facilitated installments.

NBAD profits fall 8% to Dh2.65b

This set of results strengthens the rationale of the proposed merger with FGB that was announced earlier this month.

National Bank of Abu Dhabi Q2 net profit dips 4.8 pct, meets forecasts

This compared to 1.45 billion dirhams in the same period a year earlier, while the average forecast of four analysts polled by Reuters was for a net profit in the quarter of 1.32 billion dirhams.

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