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

Arab Bank Group's H1 profit surges 25% to $503mln

Arab Bank said its net assets grew by 5% to hit $68.7 billion

Commercial Bank of Dubai introduces core banking services for virtual asset service providers

This pioneering initiative underscores CBD's commitment to fostering innovation and supporting the growing digital asset ecosystem in the region

Banque Misr, Tanmeyah sign $10.34mln credit facility agreement

The agreement will offer Tanmeyah a range of financing solutions, including short and medium-term loans, to assist its clients, particularly individuals and small business owners, with favourable terms and competitive rates

Mashreq First Half Financial Results 2024

Strong business performance and positive outlook underpinned by robust customer activity and stable macroeconomic environment see Mashreq’s Net Profit in the first half increase by 14% to AED 4bn.

SAB, HSBC forge strategic partnership to drive financial innovation in the Kingdom

This strategic alliance comes as Saudi Arabia aspires to become a hub for financial innovation through Vision 2030.

United Arab Bank pre-tax net profit up by 26% for the first half of 2024

Total assets reported at AED 19.8 billion for H1 2024 representing a growth of 12% compared to December 2023. This is driven by the 12% growth in loans, advances, and Islamic financing

Riyad Bank introduces first AI center in Saudi banking industry

The center will offer a cutting-edge environment for AI-driven research, innovation, and analysis.

Mohammad Saleh Marafie wins KD 1mln from Gulf Bank

AlDanah account's 22nd millionaire

FAB achieves H1 2024 group net profit of AED 8.4bln, revenue of AED 15.7bln

Diversified growth continued across businesses, geographies and sources of income, including 30% yoy growth in international revenue

QNB wins 'Best Retail Bank for Digital Customer Experience' award in Qatar, Middle East

The Digital Banker has recognised QNB's outstanding efforts in enhancing the digital banking experience for its customers.

Lesha Bank reports a net profit of QAR 54.1mln for the first half of 2024

The Bank reported a net profit of QAR 54.1 million attributable to the equity holders of the Bank, a 21% growth compared to the corresponding period of last year

Egypt's Banknbox join forces with CSC Jordan to drive financial inclusion

The partnership aims to drive financial inclusion and offer joint advanced services to customers of both companies, through the extension of diverse banking solutions and innovative payment services.

NBK calls to verify individual and corporate identities before sharing sensitive information or making transactions

As part of its ongoing efforts to promote the “Let’s Be Aware” campaign

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