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

Commercial Bank of Dubai reports net profit of AED 325m and operating profit of AED 535m

Commercial Bank of Dubai has delivered a net profit of AED 325 million for the first quarter of 2021, up 3.1% against the first quarter of 2020

Mizrahi-Tehafot Bank goes live with Finastra

With a modern and agile solution in place, the bank will be able to better serve its customers, and in turn to grow its business, whilst being prepared for changing regulations such as ISO 20022.

QDB opens up Russian market for Qatari enterprises

With this in view, QDB, through its various departments and initiatives, continues to work closely with international partners and stakeholders to tackle those challenges.

Emirates NBD Capital records strongest ever quarter in debt capital market

Emirates NBD Capital led 24 transactions in Q1 2021 raising over $18bn

QNB Group receives 'Green Market Pioneer in Qatar' award

“This achievement is also a testament that we are on the right path to support the transition to a low carbon and environmentally sustainable economy, and provide our international investors further opportunity for sustainable investment.”

ADCB PJSC reports first quarter 2021 net profit of AED 1.121 billion

UP 436% YoY and 11% QoQ

QNB launches mega usage campaign with Mastercard

In the first wave running from April 20 until May 19, 30 customers will win an iPhone 12 Pro.

NBB Group celebrates Earth Day with launch of 'Think Future' sustainability campaign

This initiative is yet another step forward toward becoming a more responsible banking group and reflects NBB Group's long-term commitment towards high performance beyond financial results

Outlook: Emirates NBD could be a key beneficiary of Dubai's recovery

Q1 net profit was 31% above forecast

FAB reports a Group Net Profit of AED 2.5 Billion for the first quarter of 2021

Financial results for the first quarter ended 31 March 2021

Saudi Arabia's Al Rajhi Bank's first quarter profit surges 40% on stronger economic recovery

The country’s second-largest lender by assets reported a profit of more than $890m

Burgan Bank Celebrates The Graduation Of 16 New Burganers

“A significant part of Burgan Bank’s strategy is to recruit and qualify national talent and banking-oriented students to perform their very best in this dynamic sector. Investing in capacity-building and the comprehensive training of our youth

NBK reports KD 84.3mn net profit for Q1

Total assets as of end of March 2021 grew by 1.5% year-on-year to reach KD 31.0 billion

Dubai's Emirates NBD Group’s first quarter 2021 net profit at Dh2.32b, gaining 12%

Lower provisions, improved costs and higher income lift earnings at mega-bank

Bank of Cairo announces new expansion step on the continent

Bank of Cairo is also a minority shareholder in the African Export-Import Bank, which gives it insight into the trade finance needs of Africa.

Citigroup to exit retail banking in 13 markets, including Bahrain

The move is part of an ongoing review of the company’s strategy by its chief executive officer

Bank Muscat reports net profit of OMR47.15 million

Non-interest income was OMR 37.68 million for the three months period ended 31 March 2021 as compared to OMR 34.39 million for the same period in 2020, an increase of 9.6 per cent

Citi to close retail banking in Bahrain, India, China

Meanwhile, Citigroup reported a net income for the first quarter 2021 of $7.9 billion, or $3.62 per diluted share, on revenues of $19.3 billion.

Dubai Islamic Bank successfully closes lowest-ever pricing on an AT1 issuance from the GCC

This transaction represents the lowest ever pricing achieved by a GCC bank (both conventional and Islamic) on an Additional Tier 1 instrument and the lowest ever on a USD AT1 Sukuk globally

Banque Misr achieves LE 24B in profits in FY 2019/20

The bank’s retail portfolio reached some LE 47.9 billion in June 2020 versus LE 31.5 billion in June 2019 with 2.1 percent growth rate.

Retail Banking