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

National Bank of Fujairah Q1 profit jumps 27%

The National Bank of Fujairah has earned a net profit of Dh 115.3 million in Q1, 2014 compared to Dh90.7 million in the corresponding period of 2013, showing an improvement of 27.1 per cent.

Bank Sohar posts 31 growth in net profit

Bank Sohar announced its financial results for the first quarter ended March 31, 2014, with the bank's net profit jumping 30.85 per cent to RO7.96mn, compared with RO6.08mn a year ago.

HSBC Bank Oman Says Agrees Indian Business Sale To Qatar’s Doha Bank

The affiliate of HSBC Holdings added in the statement that the deal was due to be completed in the second half of 2014, subject to regulatory and shareholder approval

Bahrain’s Ahli United Bank Considers Sale Or Merger

The deal, estimated to be worth $5 billion, would be the largest banking transaction in the region for the past 20 years

Customer Service “Biggest” Challenge For UAE Banks – Senior Official

Lenders hurting themselves by cold-calling customers, says head of Retail Banking at Emirates NBD.

National Bank Of Kuwait Q1 Net Profit Up 3.2%

Net profit was KD83.9 million in the three months to the end of March.

Products Maintain Bank’s Momentum In Adapting To Latest Technology: Al Duwaisan

Both devices should also be waved simultaneously within a range of 3 meters

Saudi’s Al Rajhi Bank Q1 Net Profit Slips 16.9%

The bank made SAR1.71 billion ($456 million) in the three months ended March 31.

UAE’s first NFC sticker solution launched by Mashreq Bank in collaboration with MasterCard

Mashreq Bank recently held a press conference to announce its partnership with MasterCard in launching the first Tap n Go sticker in UAE, which is set to redefine the world of mobile payments.

Federal Bank plans to open office in Dubai

Private lender Federal Bank plans to open an office in Dubai as part of its strategy to expand its global footprint and cater to the Indian diaspora.

Barclays offloads UAE retail division

Abu Dhabi Islamic Bank said it would acquire 110,000 customers through the deal.

Saudi’s Riyad Bank Q1 Net Profit Up 13.5%

The bank made 1.08 billion riyals in the three months ending March 31.

Saudi Hollandi Bank Q1 Net Profit Rises 20%

The bank made a profit of 417 million riyals in the three months to March 31, according to a bourse statement.

Qatar’s QNB Said to Hire McKinsey to Advise on Egypt Bank Growth

The Doha-based bank is seeking to expand in Egypt

Mashreq wins five industry leading Awards

Mashreq launched a corporate public campaign designed to put the customer at the very heart of everything

Bahrain’s Khaleeji Commercial, Bank Al Khair Drop Merger Plans

The non-agreement on the structure and the valuation of the deal were the primary reasons to call off the merger, a statement said

NBK opens its new UAE Head Office in Dubai

National Bank of Kuwait opened its new Head Office in the United Arab Emirates in Dubai under the patronage of the Central Bank of the United Arab Emirates.

Two Abu Dhabi banks said to vie for Barclays UAE retail ops

Around half-a-dozen local and international banks, including Citigroup, Standard Chartered and Commercial Bank of Dubai, had expressed interest in buying the operations

Morgan Stanley advises Dubai's Emaar on plans to list retail arm

The U.S. investment bank had been appointed to help with developing a strategy for the share listing.

Two Abu Dhabi banks vie for Barclays UAE retail ops

Barclays plans to retain its two branches in the UAE, while its wealth management business would not be part of the sale.