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

HSBC Bank Oman net profits jump

Operating expenses increased by 18.7% to RO57.8m reflecting the running costs of the merged bank.

Dubai's Emirates NBD 4Q Net Profit Rises, But Misses Estimates

Emirates NBD, Dubai's biggest bank, on Monday reported an 8% year-on-year rise in fourth-quarter net profit amid a resurgence in the local economy and a sharp rise in net interest income.

Dubai lender Mashreq's Q4 net profit jumps 48%

Mashreq, Dubai's third-biggest lender by assets, on Monday posted a 48 percent rise in fourth-quarter net profit

ABK posts KWD 35.4m net profit in 2013

This growth in performance translated in higher returns on assets of 1.15%and on equity of 6.70%. Asset quality and provision coverage ratios improved significantly compared to 2012. Capital Adequacy at 26.93%remained strong and robust well above industry

Jordan's Arab Bank net profit rises 43 pct in 2013

Jordan's largest lender, Arab Bank Group, posted a 43 percent rise in net profit to $501.9 million last year on higher revenues

Abu Dhabi to host Global Financial Markets Forum

The National Bank of Abu Dhabi is organising the sixth Global Financial Markets Forum in March

National Bank Of Kuwait Q4 Net Profit Drops 48%

BK reported a full-year profit for 2013 at $844 million, down from the $1.08 billion recorded for 2012.

HSBC Sells Banking Business In Jordan

The disposal is expected to complete inside the first-half of 2014 and is in line with the bank's strategy of selling off its non-core assets in order to make HSBC easier to manage and control.

Qatar's Barwa RE selling Barwa Bank stake in latest bailout move

Qatar's Barwa Real Estate said on Monday it had agreed to sell its 37.34 percent stake in unlisted Barwa Bank for 2.39 billion riyals as part of a wider deal to help the property developer cope with its debt burden.

Bank Muscat net profit surge by 9.3 per cent in 2013

Net loans and Islamic financing increased by 9.7 per cent to 6,143 million rials

Saudi British Bank Q4 Net Profit Jumps 20%

Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later.

Four banks vie for Standard Chartered assets

Four Lebanese banks are vying to acquire the license and assets of Standard Chartered bank in Lebanon with strong indications that the winner would be determined in less than two weeks, bankers said Thursday.

HSBC Bank Oman launches 2014 Mandoos savings scheme

The new Mandoos Scheme will also see 30 customers winning OMR 1,000 each every month, and 4 customers winning OMR 50,000 each, in both March and June.

United Arab Bank Awarded Industry Accolades by UK Publication

Among its unique initiatives United Arab Bank recently launched the region's first FC Barcelona branded Credit and Debit cards and is sending hundreds of football enthusiasts on all-expenses-paid trips to Spain to watch FC Barcelona matches live.

Emirates Islamic named best domestic retail bank

The award came in recognition of Emirates Islamic’s overall growth and its excellent performance within the UAE banking sector

ABG is named best regional retail bank

"It is also an international recognition of the outstanding achievements of the group as well as our continued contribution to development of Islamic banking industry," he added.

UAE's Bank of Sharjah sees 25-30 pct profit growth in 2013, 2014

Lenders in the UAE have on the whole posted strong profit growth in the first nine months of this year, with Bank of Sharjah reporting a 20.4 percent year-on-year hike in net profit for the period.

Iraq’s Cihan Bank to open UAE office and seeks tie-ups

The bank headquartered in Erbil has a paid-up capital of 250 billion Iraqi dinar

Kuwait's bank credit growth sees strongest month in 5 yrs

Household credit grew at a more moderate pace gaining by KD 47 million. Growth eased to 16.7 percent y/y from the 18 percent pace maintained over the past five months.

KFH-Bahrain wins WIBC Award

The annual WIBC Awards recognise individuals and institutions that have made significant contributions to the Islamic banking and finance industry.

Retail Banking