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

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.

Kuwait finance firm sees Q1 profit up 38pc‎

The bank continues a prudent policy towards building up a strong provision base and consolidating its balance sheet.

UGB posts USD 9.1 mln Q1 profits

UGB, in a statement, attributed rise in profits to improvement of affiliate commercial and real estate banking.

BankMuscat launches Green Sports initiative to develop sporting nation

BankMuscat launched Green Sports, its Corporate Social Responsibility initiative to develop a sporting nation.

Emirates Money records 31% growth in asset book to cross Dhs1bn

The company reported a growth in customer base to almost 21,000 customers in 2011, a 23% increase when compared to 2010.

Gulf Bank reports net profit KD7.4m for first quarter 2012

The Bank further increased the general reserve by KD14m to reach KD104m, in line with its strategic plan to create a "fortress balance sheet" and to further its capacity to grow and expand.

Rakbank opens a Business Banking Centre in Al Ras in Deira

The bank prides itself on being the first to offer an interest bearing business current account, collateral-free loans for companies demonstrating a solid business model, and most importantly a quick approval process with minimal documentation requirement

NBO’s Q1 net jumps 24 per cent

Operating income increased by 12 per cent to RO 8.6 million in the first quarter of 2012 compared to RO 7.6 million for the same period in 2011. Total expenses were at RO 10.9 million, an increase of 5 per cent over the first quarter of 2011, mainly on ac

BankMuscat ranked 300 among top global banking brands

The brand value reflects the premium a customer is willing to pay for products and services or the net present value of the estimated future cash flows attributable to the brand.

Doha Bank wins prestigious award

Doha Bank Group chief executive officer R Seetharaman received the award from Juma al-Majed, chairman of Dubai Economic Council at a ceremony of the 7th International Conference on Social Responsibility attended by distinguished CSR leaders, bankers, acad

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