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

Arab Bank Group, Jordan reported net profits of $829.6mln for 2023

Randa Sadik, chief executive officer, stated that Arab Bank delivered robust results during 2023

Five banks finance over 210,000 projects with $898.8mln under ‘Mashrou’ak’ initiative

The banks involved are NBE, Banque Misr, Banque du Caire, the Housing and Development Bank (HDB), and the Agricultural Bank of Egypt (ABE)

RAKBank is latest UAE bank to cross 2023 with record profits - and with a strong loan book

Lending gains, especially to its core SME clients, fueled bank's solid gains

Mashreq achieves historical financial milestone in 2023

With its net profit soaring by an impressive 130% to reach an unprecedented AED 8.6 billion amidst Exceptional Income Growth and Significantly Reduced Risk Costs

Arab Bank Group reports net profits of $829.6mln for 2023, 30% cash dividends

In view of the solid results, the Board of Directors has recommended to the shareholders the distribution of 30% cash dividends for the financial year 2023.

Gulf Bank: WISE records outstanding returns in 2023

Conservative portfolios: 10.7%, high-risk portfolios: 20.9%, WISE's Islamic portfolio: 22%

Omani banks’ profits jump to OMR453.5mn in 2023

The preliminary financial results showed an increase in the profits of all seven banks listed on the MSX.

National Bank of Oman announces strategic partnership with UnionPay to drive mobile payments

NBO will become the first bank in Oman to launch UnionPay acceptance

NBE, Banque Misr new CDs attract EGP 471 bln in three weeks

The NBE and Banque Misr will repay more than EGP 500 billion in principal and interest of 22.5 percent and 25 percent one-year CD issued in January 2023.

Doha Bank achieves net profit of QR769m in 2023

Based on these results, the Board of Directors passed a resolution in its meeting held on January 24, 2024.

Banks to close on Feb 8 for ‘Al-Isra’ wal-Mi’raj’ holiday

Al-Issa affirmed that the association took this decision after coordinating with the Central Bank of Kuwait which issued a circular in this regard.

Emirates Islamic profit rises 71% in 2023 to a record AED 2.12bln

Remarkable growth can be attributed to the upward trajectory of both funded and non-funded income

National Bank of Fujairah posts 113% in net profits at Dh725.1 million

The bank has posted more than double the profits earned in 2022, which was Dh340.4 million

Sohar International wins top honor as ‘Most Innovative Digital Bank for ecosystem sservices– Oman 2023’

The recent launch of an ecosystem of financial and non-financial services is yet another jewel in our crown of achievements.

Gulf Bank first Kuwaiti bank to partner with Coach Hub

The leading global platform for coaching programs aimed at developing leadership skills

Egypt’s CIB introduces new 3-year certificates with up to 22% yield

The Commercial International Bank has issued new premium certificates of deposits that offer a fixed monthly yield of up to 22 percent, according to the bank’s website.

Gulf International Bank B.S.C releases its first Taskforce for Climate-related Financial Disclosure report

Provides information on its governance, strategy, risk management and the metrics and targets it uses in climate-related activities

Bank Muscat BoD approves financial results, proposes 15.5 per cent dividend for 2023

The bank’s net profit for the year ended 31 December 2023

Kuwait banks see 2.2% dip in construction sector financing

Decrease worth 36.5 mln dinars

NBK warns customers of storing sensitive information on smartphones to avoid fraud

Regular updates are vital to prevent fraud by addressing security vulnerabilities

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