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

HSBC launches new product for Kuwait firms

HSBC said it has launched a highly-advanced internet banking proposition, HSBC Connect to automate transactions for the large and mid- market businesses in Kuwait.

SABB Wins The Banker Middle East Industry Award for "Best Retail Bank" in Saudi Arabia

In another recognition, Euromoney Award for Excellence named SABB the "Best Bank in Saudi Arabia" at their 2012 awards event.

StanChart launches new brand campaign

Standard Chartered has announced the launch of its new global brand campaign which continues it’s previously launched ‘Here for good’ story and demonstrates how it is a bank with a conscience.

NBAD Bahrain offers loans to government employees

NBAD-Bahrain is located in Al Seef District of Manama, inside building 2611.

NI and AUB announce strategic alliance in Bahrain

Commenting on the occasion, Ram Chari, Chief Executive Officer, Network International, said: "We are delighted to partner with Ahli United Bank, one of the leading banks in the Kingdom.

Kuwait's NBK offers $2.1bn for Boubyan stake‎

NBK, which currently owns 47.29 percent stake in the Islamic lender, will offer 630 fils per share for the stake, said in a bourse statement. Boubyan shares closed at 600 fils on the Kuwait stock exchange on Wednesday.

Mashreq receives 'Best Regional Retail Bank Award'

Since its inception, Mashreq has been a pioneer in the UAE banking landscape. The bank is known to have launched 'first of kind products' such as First travelers' cheques, First credit cards and First ATMs.

France's biggest listed bank eyes sale of Egypt retail operations

Both the sources said talks for the asset disposal by the French lender are at very early stages.

HSBC Bank welcomes new directors

The new board, chaired by Simon Cooper, Chief Executive Officer of HSBC Middle East Ltd comprises of seven Directors each serving an initial three-year term. Brigadier Waleed bin Omar al Zawawi has been appointed as Deputy Chairman.

Bahrain Islamic banks to vote on key merger

In addition to shareholder approval, the merger is subject to regulatory and other approvals and is expected to be completed within the second half of 2012.

Standard Chartered Awarded Best Global Retail Bank And Best Online Banking Strategy

Standard Chartered Bank has won awards of “Best Global Retail Bank” and “Best Online Banking Strategy” at The Retail Banker International’s Awards, its 27th annual event.

BankMuscat ranked Best Bank in Oman

The bank scored 34 more points to win the top position in the 2011 banking survey conducted by Ernst and Young, exhibiting the best performance in return on capital, tighter controls on non-performing loans (NPLs) and healthy growth in deposits.

Geojit BNP, SBI tie-up targets NRI kitties

Retail stock broking firm Geojit BNP Paribas Financial Services Ltd and State Bank of India have inked an agreement to extend Portfolio Investment Services to Non-Resident Indian customers, mainly from the Gulf region.

HSBC gets formal approval for Oman merger, names board, CEO

HSBC Holdings has received formal regulatory approval to merge its business in Oman with local lender Oman International Bank, it said in a statement to the Muscat stock exchange on Sunday.

BankMuscat celebrates its Singapore operations

A high-profile delegation from BankMuscat attending the ceremony included Shaikh Khalid bin Mustahail al Mashani, Chairman, Sulaiman bin Mohamed al Yahyai, Vice-Chairman, and AbdulRazak Ali Issa, Chief Executive.

NBAD to open 8 new business banking centers

Two years ago when the world struggled with the financial crisis, the National Bank of Abu Dhabi (NBAD)did not hesitate from investing in serving small- and medium-sized enterprises (SME).

GCC bank perform better in Q1

It showed the combined net income of the banks from the six-nation Gulf Cooperation Council (GCC) swelled by 18 per cent year-on-year in the first quarter of 2012 and as high as 38 per cent over the fourth quarter of 2011.

Crédit Agricole Egypt announces its Q1 2012 financial results and market strategy

Mr. Drion, said that the most recent financial results, noting that CAE reported revenues of EGP341.1m for Q1 2012, an increase of 17.1% over the same period in 2011. This increase is attributed mainly to an increase in loan volumes (up 10.4% in the Q1 20

Shortage of bank lockers in Dubai

Big names in the city like Mashreq and Standard Chartered do not have this service, their spokesperson confirmed to Emirates 24|7.

UAE SME loans to jump 20%: HSBC

The fund, HSBC’s third such fund in the UAE, is open to new and existing customers with cross border trading requirements. The bank has earmarked 30 per cent of the loans to Emirati-owned businesses.

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