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

Al Rajhi Bank’s shares close lower even as profit surges to $2.2bn in H1

Al Rajhi Bank’s impairment charges for financing went down slightly from SR1.161 billion to SR1.159 billion.

NBK Group treasury organizes a Client LIBOR transition awareness session

Kalawoun: We are committed to keep our clients informed of developments and provide support in the transition to the new interest rate benchmarks

Emirates NBD reports profit of Dhs5.3bn, its highest since 2019

Emirates NBD played a leading role in both the DEWA and TECOM IPOs, delivering customers a fully digital platform

UAB reports net profit of AED 83.3mln for H1 2022

Operating Expenses decreased by 3% vs. H1 2021

NBF posted a solid performance in H1 2022 net profit

National Bank of Fujairah PJSC ( reached AED 150.5 million up 97.5% and surged 49.4% quarter-on-quarter on the back of strong business growth and asset and liability management

Moonfare launches digital private markets investing platform in the United Arab Emirates

Moonfare is the global trendsetter of the ‘Private-Markets-Go-Retail’ phenomenon.

Qatar banking sector total assets scale up 1.7% m-o-m to reach QR1.846tn in June: QNBFS

Non-resident deposits declined by 2% m-o-m (-20.6% in 2022) in June.

Ifza partners with CBD for exclusive banking solutions

Recognising the challenges entrepreneurs face, Ifza’s priority remains to support its Professional Partners and Licensees through bespoke services that aim to make doing business as easy as possible.

NBK wins “The Social work Pioneer Project Award” from the GCC Council of Ministers of Social Affairs and Labor

For it’s First of a kind Kuwaiti youth program “Tamakan”

Ahlibank H1 net profit up 7.2% to QR330.7mn

Ahlibank will continue to invest in digital and innovative technologies allowing customers to conduct their daily banking service in a simple and secure manner while providing the most personal banking experience.

Ahlibank’s Imtiyaz account: Modern banking for the modern customer

It comes with a world of exclusive benefits such as dedicated counters, branded debit, and credit cards

QNB launches direct remittance service to Philippines through RippleNet

QNB’s latest first-to-market solution complements the Bank’s efforts to improve cross-border payments, upholding its leadership position in Qatar in the sector of money transfer.

Bank Leumi marks Israeli first with re-energised buyside

Leumi opened books marketing the benchmark at Treasuries plus 235bp area.

UAE bank borrowings hit $498bln as demand for personal, business loans rise

Bank lending rebounds, reflecting improved credit sentiment, says UAE central bank

ADIB delivers a strong set of results for H1 2022

With y-o-y net profit growth of 30% to AED 1.4bln underpinned by core business growth

Mashreq achieves 17% increase in operating profit and posts AED 1.4bln net profit for 1H 2022

Operating Income has increased by 15% over the previous year to AED 3.3 billion mainly due to increased Net Interest Income and Income from Islamic financing

Nigeria's United Bank for Africa expands into Middle East

UBA Group Chairman Tony O. Elumelu said the new UAE branch would enable trade finance and investments between the Middle East and Africa.

QIB posts profit of QAR 1,815mln for the six months’ period ended 30 June 2022

Total Assets reach QAR 193bln

Bank Muscat posts net profit of over $257mln

The bank posted a net profit increase of 4.9%

Dukhan Bank records 27% increase in net profit

Dukhan Bank’s total assets reached QR104bn in the first half of 2022, and the customer financing assets stood at QR74bn in the first half of 2022

Retail Banking