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

Bahrain: Ithmaar Bank posts $32mln net profit

Ithmaar Bank reported a net profit attributable to equity holders for the year ended with a 27.74% increase

Kuwait’s Gulf Bank posts 15% rise in FY 2023 net profit to $231mln

Higher earnings due to rising interest income, lower provisions and impairments

Saudi Awwal Bank proposes 9.8% dividend for H2 2023

The total distribution will be $536mln

Mastercard and Al Baraka Bank partner to elevate banking experience in Egypt

This strategic move is set to effectively cater to the needs of individuals in the realm of digital payments

Abu Dhabi Exports Office partners with Mashreq and Abu Dhabi Commercial Bank to provide up to US$100mln in financing to BGN

Financing Facility aims to enable BGN to procure energy commodities from the UAE

Al Baraka Bank joins largest Islamic financing deal in Egypt

The deal aims to refinance the existing facilities of the two companies on better terms and lower costs, as well as to support their growth

United Arab Bank reports financial results for the full year ended 31st December 2023

UAB deliver 65% growth in FY 2023 net profits

Commercial Bank International and Fuze sign breakthrough digital assets MoU

Collaboration will support the development of products to address the burgeoning demand for cryptocurrency services in the UAE

IDEMIA & Arab National Bank to launch payment card in Saudi Arabia

With this innovative solution in the payment market, IST and anb reaffirm their dedication to improving accessibility for partially sighted and blind cardholders

NBK named “Best Trade Finance Provider in Kuwait” for 2024

The award underscores NBK’s leadership and dominance in the trade finance market

Banque Saudi Fransi posts 18% higher net profit for FY 2023

Loans and advances were up 13% while customer deposits rose 9%

Commercial Bank of Kuwait enters strategic partnership with Network International to transform digital banking

The partnership marks a significant milestone in the Digital Transformation journey of Al-Tijari, the second oldest and one of the leading financial institutions in Kuwait.

ADIB leads $178mln financing deal for Giza Systems, VAS Integrated Solutions

The deal aims to refinance existing facilities with better terms and lower financing costs, to support the growth, expansion, and development of the business of Solutions’ subsidiaries in the region

UAE records first digital dirham transaction via mBridge CBDC

The bilateral transaction was settled on mBridge, a joint wholesale central bank digital currency (CBDC) project by the Bank for International Settlements (BIS).

Saudi National Bank reports more than 7% jump in 2023 net profit

The lender made a net profit of $5.34bln in 2023

Emirates Development Bank recognized as best regional development bank at International Finance Awards

Award recognizes the bank’s long tenor patient debt approach and innovative financing solutions to empower businesses and drive economic impact

Boubyan Bank makes KD 80.4 mln in profit for '23

He added that customer deposits increased by nine percent reaching KD 6.5 billion

NBK reports KD 560.6mln in net profits for financial year 2023

The Group recorded a net profit of KD 560.6 million (USD 1.8 billion), up 10.1% year-on-year from KD 509.1 million (USD 1.7 billion) in 2022

National Bank of Oman and Paymob Forge strategic alliance to transform Oman's digital landscape

The signing ceremony took place at NBO’s head office in Al Athaiba and was signed by Abdullah Zahran Al Hinai, Chief Executive Officer of NBO and Islam Shawky, Co-founder and CEO of Paymob

Standard Chartered starts Egypt operations to solidify MENA presence

Bank opens first branch in Egyptian capital after obtaining central bank final approval

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