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

UAE's Union National Bank Q2 profit slides 17.3 pct, beats estimates

The average forecast of four analysts polled by Reuters was for a quarterly profit of 420 million dirhams.

Commercial Bank of Dubai Q2 profit falls 22 per cent

Bad debt has been plaguing UAE banks since the slide in oil prices that began two years ago.

Tunisia: ABC Bank expands its branch network in Tunisia

This increase is mainly attributable to the development of the portfolio of assets and treasury activities and an increase in fees and commissions.

Oman’s Bank Muscat Q2 net profit edges higher, lifts sector

Q2 net profit 46.7m rials versus 46.5m rials a year ago

QNB Group report net profit of QAR 6.2 billion for H1

QNB Group announced its results for the six months ended 30 June 2016.

Oman's Bank Muscat beats estimates with marginal Q2 net profit rise

Bank Muscat did not disclose a quarterly breakdown of its earnings so Reuters calculated the figure based on previous financial statements.

Qatar investment spending to fuel GDP growth, says QNB

The report also predicts inflation will rise to 3.2 percent in 2016 and 3.4 percent in 2017 in line with global inflation hikes.

NBO offers tap at 23bp NIP

National Bank of Oman has set terms for a $100m tap of its $500m 3.125% 2019s at 200bp over midswaps, which a syndicate official away from the deal said equates to a new issue premium of around 23bp.

UAE’s United Arab Bank ‘inks $150m 2-year loan’

Transaction the latest facility raised by a regional bank as liquidity comes under pressure from lower oil prices, a weaker economy

World Bank and AFDB reports put CRCICA in line with international standards

They demanded that the place of arbitration be moved outside of Egypt.

QNB targets strategic, opportunistic growth

He also discusses QNB’s dedication to incubating new businesses, its human capital development efforts, and its plans for further expansion overseas.

Ex-ANZ exec Alex Thursby at centre of $240b Abu Dhabi bank merger

The new entity will be called the National Bank of Abu Dhabi when the tie-up is completed in the first quarter of 2017, and is part of the emirate's plan to revamp its economy hit by lower oil prices.

Abu Dhabi bank merger will create regional powerhouse

The chief executive officers of both banks will continue until the merger takes place, after which FGB managing director Abdulhamid Saeed will take over.

Assets of Commercial Banks in Oman Rise 7.7% to OMR28.6 Billion

Conventional banks' overall investments in securities stood at OMR2.7 billion as at the end of April 2016.

Dubai's biggest bank said to sign upsized $1.7bn loan

Another of the emirate's banks, Commercial Bank of Dubai, is expected to sign a three-year loan of up to $500 million in the next few days to refinance existing debt, sources familiar with the matter told Reuters on Thursday.

Gulf Bank Wins ‘Best Commercial Bank of the Year’ and ‘Best Innovation in Retail Banking’ in Kuwait from International Banker

The ‘2016 Banking Awards’ distinguish those institutions that have excelled in providing an unparalleled service to their clients whilst also continuously maintaining a high level of regulatory compliance.

Retail Banking