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

HSBC To Merge Omani Business With Oman International Bank

HSBC said it will inject up to $97.4 million into the new combined entity of which it will own 51% and which will be renamed HSBC Bank Oman SOAG.

NBK posts $292 mln net profit

First quarter 2012 net profits came 5.5% ahead of the fourth quarter of 2011.

QNB Group acquires a stake of Libya-based bank

The announcement was made during the extraordinary general assembly of the Bank of Commerce and Development which was held in Benghazi, Libya on Thursday April 12th 2012. It approved QNB Group as a strategic partner of the Bank according to the memorandum

Eurobank sells Turkey unit

Eurobank, one of Greece's major banks with Bulgarian subsidiaries, announced it is about to sell its 70% stake in Turkish unit Tekfen to Kuwait's Burgan Bank.

Two Dubai banks approve merger

Two Dubai-based banks have approved a plan to merge into one unit following negotiations over the past two years and endorsement of the plan by the Central Bank, a newspaper reported on Monday.

Bank Al Etihad selects CR2's BankWorld

The adoption of BankWorld enables Bank Al Etihad to take a competitive advantage in the Jordanian market by being able to launch new products and services efficiently and quickly across their ATM network as well as providing an improved level of service

HSBC To Buy Several Lloyds TSB Banking Assets In UAE

Lloyds Banking Group said earlier this year that it was considering a range of options for its Lloyds TSB banking unit in the United Arab Emirates.

NBK Bahrain reports net profits of $70m

The Bank's performance remains solid and impressive given the challenging environment.

CBQ eyes bond market return

Commercial Bank of Qatar has picked banks to arrange investor meetings in Asia, the Middle East and Europe ahead of a possible dollar-denominated bond issue, lead arrangers said.

BankMuscat to prop up profits of overseas entities

The report says that the year 2011 was a challenging year for the banking sector in the 2011 in the GCC region, reflecting the uncertainties in the global economic environment.

National Bank of Abu Dhabi signs agreement with UAE Exchange

"NBAD's partnership with UAE Exchange adds another 100 venues where our esteemed cardholders can conveniently pay their credit card bills and this complements the lifestyle and distinctions that come with NBAD credit card," added Dave.

Barclays targets corporate banking business

The bank is already working on an initiative that all the suffixes in Barclays banking verticals will be dropped and it will be just Barclays.

Bank merger sealed in Greece

The merger of the two largest private sector banks in Greece is “a game-changer decision of historic proportions which enhances the ability of the country to overcome the crisis, stabilizes the banking system and sends a positive message regarding t

Warba Bank set to launch retail operations

With quality services delivered by high competencies, Warba Bank expects to attract clients and investors to invest throughout the Kuwait financial system.

Omani banks set to see healthy growth

Oman’s banking sector is set to see healthy growth both in the corporate and consumer segments in the year ahead.

UAE banks not out of woods yet

The bravado of boom time Dubai has vanished, replaced by a sober sense of a slow recovery.

NBAD opens first Academy in Northern Emirates

The National Bank of Abu Dhabi has expanded its training facility with the inauguration of a state-of- the-art academy in the Northern Emirates, the Bank’s second in the UAE.

Credit card fees under UAE Central Bank scrutiny

Apex bank to intervene if fees found too high

Ahli United wins EU banking award

Bahrain-based Ahli United Bank wins (STP) award

Mashreq appoints new Head of SME Banking

He will be responsible for putting together the strategy of the overall SME business model at Mashreq and its execution in both the retail and corporate segments

Retail Banking