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

NBAD warns on margins

Many UAE banks have recorded impressive growth in the first quarter, continuing a trend from 2013 as the economy rebounds from a real estate crash and debt problems at Dubai government-linked entities.

HSBC's Oman unit posts 46 pct Q1 profit slump

HSBC Bank Oman, an affiliate of HSBC Holdings, posted a 46 percent slump in net profit in the first quarter, as the lender didn't repeat gains registered in the same period last year

Commercial Bank of Qatar Financial Results for the quarter ended 31 March 2014

Commercial Bank delivers first quarter net profit of QAR 548 million

Emirates NBD only Middle East bank to win in product category at The Asian Banker Awards

Emirates NBD, a leading bank in the region, today announced that it has won the 'Best Consumer Credit Product award' and 'Best Risk Management award’ for its Personal Loan business at the 2014 Asian Banker’s ‘International

UAB profit rises 34% to Dh161m

Q1 2014 operating income, customer loans, deposits and advances increase By Staff

Bank Muscat first quarter net profit jumps 59%

First quarter net profit 39.76m rials vs 24.99m rials a year ago

Co-Operative Bank of Kenya Tops International Banker Awards 2014

The second award was made for Innovation in Retail Banking, Kenya.

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.