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

UAE's biggest lender FAB posts 19% jump in Q2 net profit

FAB posted a net profit of $783.87mln in the quarter ended June 30, up from 2.4 billion a year earlier

BBK discloses its financial results for the half year ended 30th June 2021

Total comprehensive income attributable to the owners of the Bank for the second quarter of 2021 amounted to BD 22.4 million, compared to BD 93.0 million reported for the same period last year, representing a decrease of 75.9%

RAKBank reports 25% jump in second-quarter net profit amid continued economic recovery

Provisions for credit losses for the quarter decreased by Dh114.4m to Dh296.6m

Commercial Bank of Dubai’s H1 profit up 27.5 per cent year on year

CBD has delivered an improved set of results with the bank’s net profit increasing by 27 per cent compared to the first half of 2020.

SWIFT launches SWIFT Go, a fast, cost-effective service for low-value cross-border payments

Seven global banks, which collectively handle 33 million low-value cross-border payments per year, are already live with the service

Commercial Bank wins prestigious ‘Best Bank in Qatar’ award by Euromoney

The investment we have made in our business under our five-year strategic plan means that Commercial Bank is able to swiftly adapt to the new operating environment

Is Saudi Arabia set to become the next P2P hub?

This follows several years of research into the fintech lending market by Saudi authorities and regulators.

UAE's first half 2021 bank results point to economic recovery gaining traction

Financials reflect improvement in profitability, cost efficiency and asset quality

Carrefour and HSBC Partner to bring payment instalment plan to customers

Carrefour customers can now benefit from a 3 to 12-month HSBC Flexi Instalment Plan when they make any purchase

Al Khaliji H1 profit surges to QR372mn

The bank's total assets grew 6% year-on-year to QR57.3bn with net loans and advances soaring 12% to QR35.95bn at the end of June 30, 2021.

FinTech: Why these startups are banking on a payments revolution in the Middle East

Ten startups from seven countries participated in the Techstars accelerator programme this year. They tell ZDNet why the MENA region is ripe for FinTech innovation - and what comes next.

Qatar's Al Khalij Commercial Bank H1-21 net profit slightly up at $102mln

Net impairment charges jumped 64%

Ahlibank’s Net Profit QR 308 million for the first half of 2021

The Bank also successfully completed two strategic initiatives during the first six months of 2021.

Burgan Bank announces working hours during Eid Al-Adha holiday

On this occasion, Burgan Bank extends its best wishes and greetings to everyone

Commercial Bank of Qatar scraps offer to acquire majority stake in National Bank of Oman

The planned transaction would have been the latest in a series of mergers and acquisitions in the Gulf’s banking industry, prompted by lower oil prices in the past few years, reports say.

Saudi Social Development Bank plans to boost lending

The lender has a budget of $2.93bln this year according to CEO Ibrahim Al-Rashed

Fidelity Bank Embarks On Strategic Growth, Expansion

This will be achieved by deepening the skills and competencies of staff across the bank, entrenching a culture of high performance, and embedding new ways of working in the bank.

QNB expands its footprint in Asia with Hong Kong branch opening

Hong Kong is the gateway for the Group's clients to Mainland China and wider Asia. It is a major trade hub accounting for USD 1,077.5 billion in imports and exports

Sharjah Chamber, Emirates Development Bank sign MoU to support industrial & SME sector

Moreover, the SCCI's 'Sadr' Fund will also offer the necessary liquidity to exporters and reduce risks in export operations through credit protection

Ithmaar Bank wins Mastercard award for Best Loyalty Programme

The prestigious annual award was presented to Ithmaar Bank in recognition of its successful, customer-focused credit card rewards programme, Ithmaar Rewards

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