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

Gulf Finance plans to triple SMEs lending

Gulf Finance focuses entirely on the needs of SMEs in the power, oil and gas, healthcare, manufacturing and logistics sector.

Doha Bank Extends Footprint in Abu Dhabi

Doha Bank as part of its expansion plans has opened a regional branch in Abu Dhabi

Emirates NBD frontrunner to buy BNP Paribas' Egypt arm-sources

Emirates NBD ENBD.DU, Dubai's largest bank, has emerged as the frontrunner to buy BNP Paribas' (BNPP.PA) Egyptian retail business, three sources familiar with the matter said, in a deal likely to raise $400-500 million for the French lender.

Al Hilal Bank named Middle East's 'Best Regional Retail Bank'

This marks the third consecutive year that Al Hilal Bank has been recognized by the Islamic Business & Finance Awards for excellence in regional retail banking.

Doha Bank opens in Abu Dhabi

The opening was marked with a gala event held at the Emirates Palace Hotel in Abu Dhabi.

Union Bank of India to expand its overseas presence; to open offshore unit in Dubai

Apart from Dubai, the bank also plans to set up a subsidiary in London and one branch each in Sydney and in Antwerp in the next year.

Burgan wins approval to acquire Turkish bank

Burgan Bank will get access to the booming Turkish banking market

Moody’s Downgrades Three Dubai Banks

The international agency has cut ratings for three lenders in the emirate, and put a fourth on review.

Citigroup says plans sale of Turkish retail banking business

Citigroup said earlier it was cutting 11,000 jobs worldwide

Hapoalim in talks to buy Discount Bank New York

Bank Hapoalim has received a preliminary permit from the US Supervision Authority for State Banks to acquire Discount Bank of New York.

BBK launches Al Wajaha banking service

Al Wajaha customers will have access to dedicated relationship managers and the luxurious Majlis Al Wajaha, a comfortable and private in-branch service area exclusively dedicated to them.

HSBC Bank Oman seeking buyers for five OIB branches

The decision to sell the five branches pre-dated HSBC's recent merger with OIB

Middle Eastern banks make formal offer for Fimbank

Fimbank first announced it had been given a presentation by Burgan Bank of its plans in March

Growth prospects fuel Gulf banks' capital-raising push

The contrast means the Gulf banks are likely to be able to raise money cheaply and relatively easily, helping them compete as they move into markets overseas and challenge some of the big international institutions.

Burgan Bank wins “Best Bank in Kuwait” award

The award reflects the bank’s performance and financial delivery in 2012.

Higher provisions, costs pare profit of GCC banks

“We expect UAE banks’ provisioning for bad loans to hold ground in 2013, which, in turn, is likely to keep pressure on their profitability.

Is Bank's Net Profit More Than Doubles

Turkey's Is Bank's third-quarter net profit more than doubled

HSBC receives Central Bank approval for onshore assets of Lloyds TSB Middle East acquisition

HSBC opened the doors of its new Jumeirah branch on Al Wasl Road to Lloyds and HSBC customers this week

Global economy prompts repayment fears for MENA traders - HSBC

However, trade in the region is continuing to grow; 94 percent of Saudi firms expect their trade volumes to expand or stay steady in the next six months.

ABC Q3 profit up 29pc

“The results demonstrate the group’s ability to deliver sustainable core earnings through its diversified product offerings across our geographies in spite of a continuing fragile economic climate in certain of our markets."

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