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

AUB net profit soars to $579m

Bahrain-based Ahli United Bank has reported a a record net profit of $579.4 million for 2013, up 72.6 per cent when compared to $335.7 million the year before.

Arab Banking Corporation gains rise 17pc to $239m

Arab Banking Corporation yesterday recorded consolidated group net profit of $239 million for last year, a 17 per cent increase when compared with $205m for 2012.

Citi Bahrain marks milestone

Citi Bahrain celebrated 45 years of presence and 25 years of consumer banking operations in the kingdom.

The Saudi Investment Bank "SAIB" develops WOOW

WOOW is based on strong customer feedback and demand for a world-class rewards program that goes far beyond existing standard credit card and cash-back programs in GCC.

Senior executive quits UAE's largest lender

National Bank of Abu Dhabi's head of consumer banking has left the lender, a spokesman confirmed on Thursday.

Commercial Bank of Qatar profit drops

Commercial Bank of Qatar , the country's second-largest lender by assets, reported a drop in fourth-quarter net profit on Monday, missing analysts' forecasts as provisioning for bad loans rose substantially.

Warba posts 27 pct gain year on year

Bank achieves progressive results in line with strategic plan: Chairman

UPDATE 1-Qatar's CBQ posts third straight quarterly profit dip on provisions

Commercial Bank of Qatar , the Gulf Arab state's second-largest lender by assets, reported a third successive quarterly decline in net profit on Monday as higher provisions for bad loans once again hurt its earnings.

Reinventing Retail Banking in the Middle East

Fleming Gulf conferences is back with its most anticipated retail banking event that has been running successfully for eight consecutive years.

Kazkommertsbank expects to acquire BTA Bank stake in Q2

Kazkommertsbank expects to finalise the acquisition of a 46.5 percent stake in BTA Bank in the second quarter of this year, Kazkommertsbank Managing Director Sergey Mokroussov told Reuters.

Standard Chartered Middle East in Management Shake-Up

Standard Chartered in the Middle East recently made several changes to its senior leadership amid the bank’s global management shake-up and restructuring of its wholesale and consumer banking unit.

Danish lender to open Abu Dhabi office

The Copenhagen-based firm, which gets 10 per cent of its revenues from the Middle East, is also hoping that the Abu Dhabi office will help it in its efforts to sell its proprietary trading platforms to banks, the chief executive Lars Seier Christensen sai

CBK reports operating profit up by 8.5 percent

Commercial Bank's total assets at the end of December 2013 reached KD 3.9 billion

Khaleeji Commercial Bank reports net loss

The Board of Directors of Khaleeji Commercial Bank announced that the bank would not be paying a dividend for 2013.

Al Salam Bank and BMI Bank conclude business combination

The Chairperson of ASBB , H.H. Shaikha Hessa Bint Khalifa bin Hamad Al Khalifa thanked the Central Bank of Bahrain and shareholders of ASBB for their approval to proceed with the business combination and stated that the legal formalities will be concluded

Retail Banking