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

KIB Group’s net profits during H1 2024 reach KD 12 million

During this period, KIB achieved KD 12 million of net profit attributable to shareholders, (i.e. 103% growth) with earnings per share (EPS) standing at 5.99 fils.

RAKBANK issues first ever public Social Bond in the GCC

The bond will have a coupon of 5.375% with a yield to maturity of 5.439%

Ajman Bank sets highest record in its history for the first half of 2024

Ammar Bin Humaid Al Noaimi chairs Ajman Bank Board of Directors meeting

QNB commences distribution of interim cash dividends

Dividends will be deposited directly into the bank accounts of shareholders who registered their account numbers with EDAA on or before 17 July 2024

Mashreq bags Open Banking Initiative of the Year - UAE at ABF Retail Banking Awards 2024 for its innovative Global Non-Resident Platform

The initiative transforms the Non-Resident banking experience globally with seamless, secure, and personalised services.

Khaleeji Bank launches “Ajyal” account for minors below the age of 21

Exclusive privileges and bonuses for the “Ajyal” Savings Account and Depositors Account

Dukhan Bank reports a net profit of QAR 784mln for the six-month period ended 30 June 2024

The Board of Directors recommends 8% interim dividends

QNB first bank in Qatar to launch own cyber-security awareness campaign

Throughout the period of the campaign, QNB has curated social media videos aimed at targeting all of its customers.

BankDhofar continues its support to Small and Medium Enterprises aligning with Oman Vision 2040

The bank has significantly enhanced its focus at this sector as it is the backbone of the economy that will boost economic prosperity for the state and individuals alike

Commercial banks’ assets surge by 5.1% in May 2024

The Qatar Central Bank has also played a crucial role in this journey

Kuwait’s GDP falls 4.4pc in Q4 2023: NBK Research

This is something that could be pushed much higher as the new government pursues its diversification and development goals.

Afreximbank plans $3.2bln boost for Egyptian banks, companies

Over the past three years, Afreximbank has provided approximately $12.8 billion in funding to the Egyptian market

Saudi Banks Hit Record-Breaking Profits of USD 1.96 Billion

The Saudi National Bank has reported an unprecedented 14-month high in profits, and a 12.4% increase in non-oil exports.

Oman Housing Bank launches campaign to enhance financing services across Oman

These agreements facilitate the processing of waiting list applications through local banks.

FAB says ‘no’ to $5bln Yes Bank stake acquisition reports

The bank said in a bourse filing that reports on Wednesday were ‘unfounded’

Elevate your lifestyle with exclusive benefits from NBO privilege banking services

Designed for individuals earning between OMR 1,000 and OMR 2,999 or with a deposit base of OMR 10,000, Privilege Banking offers a comprehensive range of benefits reflecting NBO's commitment to delivering premium services and enhancing the experience

Commercial Bank of Dubai and Visa Partner on Credit, Debit Cards

This collaboration will use core data assets and insights to address business challenges and offer personalized solutions to customers.

QIIB considers Semi-Annual Dividend Distribution for Shareholders

This discussion will take place at their upcoming meeting, which will review and approve the semi-annual financial results for the period ending June 30, 2024.

Eskan Bank acquires 9.1% stake in EBRIT, Bahrain

The bank will take possession of the tendered units by July 11, 2024

Saudi Arabia ranks 3rd in remittance outflows globally in 2023: World Bank report

Foreign remittance is the money that immigrants send directly to their families or communities in their country of origin in the world.