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

Mashreq reports 7.2% increase in net profit

The bank's ongoing strategic repositioning of its balance sheet led to a decline in provisions for bad loans by 45% to Dhs352m from Dhs637m reported during 1st half in 2011.

NBO H1 net jumps 17pc

Customer deposits also increased 26 per cent to RO 1.827 billion this year, from RO 1.455 billion during the first half of last year.

Banking hub expands at The Galleries

. More bank leases currently under negotiation are set to bring the total space taken by banks to more than 18,000 square feet.

UAE banks told to hold ‘10% liabilities in liquid assets’ from 1 Jan

The UAE Central Bank issued the new liquid assets ratio requirement on 12 July, and posted it on its website yesterday.

Bank of Bahrain & Kuwait reports net profit

Comprehensive income has increased from BD21.2m in June 2011 to BD32.6m in June 2012; mainly due to improvement in investments valuation reserves, as a result of management strategy to continuously improve and maintain the quality of the investment assets

National Bank Of Oman Q2 profit up 13.2pc

The lender made a net profit of 10.3 million rials in the three months to June 30, according to Reuters calculations based on a statement to the Muscat stock exchange on Monday, up from 9.1 million rials in the same period of 2011.

"Lebanese Banking Sector is Extremely Liquid" says Blom Bank

In 2011, top 3 Lebanese banks managed to report decent balance sheet activity as highlighted by a respective 2.5%, 2.1% and 4.5% increase in assets, deposits and loans, despite a slowdown in the local economy and the political turmoil that impacted the M

UAE Exchange launches banking kiosk

The MyBranch kiosk was developed by UAE Exchange in association with Euronet, a global provider of electronic payment and transaction processing solutions, and MBME, a supplier of kiosk-based payment systems, according to a company press release.

GCC banks’ credit seen surging to $766b in 2012

Following the bottom-line growth rates of nine per cent and 16 per cent in 2010 and 2011 respectively, analysts at the Kuwait Finance House, or Markaz, expect GCC banks to record a surge of 21 per cent in 2012.

UAE Firms May Go On Credit Card Strike

The current commission figure varies between businesses but the average is believed to be around 1.5 per cent, equating to a rise of 0.75 per cent.

Bank of Bahrain and Kuwait Conducts Crisis Management Exercise

The exercise managed and co-ordinated by the bank's dedicated Business Continuity Management and Governance Team, the Chairman of the Board Murad Ali Murad, some Board members, all the members of the Executive Management along with over 100 employee

Emirates Islamic Bank offers home finance in Manazil Towers in Sharjah

Emirates Islamic Bank’s package for Manazil Towers features up to 85 per cent finance in variable rate options starting from 4.99 per cent and five-year fixed rate starting from 5.99 per cent, with a 24-hour pre-approval offer.

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.

Retail Banking