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

Commercial Bank net profit surges 77.1% to QR2.304bn in 2021

Operating profit for the Group increased by 15.3 percent to QR3,621.1m for the year ended December 31, 2021, compared with QR3,140.8m achieved in the same period in 2020.

NBB ranks 1st in Bahrain and 2nd in the Arab World for Banking Services Companies

The bank received a total score of 65, surpassing 44 regional banks, making it part of the top 16% Banking Services Companies.

Burgan Bank launches freshly revamped "Banki"

The bank's personal electronic virtual assistant gets more interactive and more personalized than ever before

UAE bank deposits grew 80 per cent in 10 years

The number of commercial banks operating in the UAE totalled 58 in 2020 against 51 in 2010

Fitch Revises National Bank of Oman's Outlook to Stable; Affirms at 'BB-'

The outlook revision reflects our view that pressures on the operating environment from the pandemic and lower oil prices have eased sufficiently, and that the bank's financial metrics have been resilient in the past quarters, despite these pressures

Qatar National Bank records profit but ‘remains on alert’

Qatar National Bank continues to set aside funds in an effort to be cautious in the many markets where it has a presence

Qatar National Bank raised provisions and remains on alert

Many banks in the Gulf are seeing higher profits on the back of improvements in trade and tourism as regional economies recover from the pandemic

Saudi National Bank gets $750 million via debut 'sustainable' sukuk

The five-year Islamic bonds launched at 85 basis points (bps) over U.S. Treasuries (UST), tightened from initial price guidance of around 110 bps over UST, the document from one of the banks on the deal showed.

QIIB launches direct cheque deposit service through ATMs

A sign will be provided on QIIB ATMs that accept cheque deposits.

Afreximbank and the National Bank of Egypt commit to drive investments and enhance trade in the country

The agreement establishes a Joint Project Preparation Facility between the two institutions, a first-of-a-kind for an Egyptian commercial bank

Ithmaar Bank empowers customers with new self-service machines at Seef Mall and Arad Branches

Automates a range of transactions, such as printing account and cards' statements, printing certificates, updating of customer information, reissuing Debit Card PINs and instantly printing Debit Cards and eCards

Qatar National Bank 2021 profit up 10% driven by loan growth

Its 2021 net profit rose to $3.6bln

Saudi Arabia .. The biggest merger of the Bank and the Financial Group has come to an end

This merger process involves 5 key axes, including the exchange of accounts of individual clients and corporate clients, Treasury Department clients and NCB Capital.

NCB, Samba complete final phase of merger creating Saudi Arabia’s largest bank

SNB concluded the last phase of the transaction in a record time, within nine months since the process started on April 1, 2021, making it the region’s largest and fastest merger.

Alizz Islamic Bank joins first Waqf Forum

The forum aimed to provide a platform for Waqf foundations, experts and advocates to meet and discuss the promotion of this sector.

Banks public sector deposits grow 12% in Nov

Qatar’s commercial banks registered 8.9 percent and 7.8 percent rise annually in total deposits and total credit facilities.

Saudi Fransi, MasterCard launch cash back credit card

Rapid digitization has influenced customer trust and engagement with both nontraditional and traditional financial players.

GDP to grow by 5.5% in 2022, Bank of Israel predicts

The bank is in no hurry to increase the interest rate

NBK recognized as best trade finance provider in Kuwait

Criteria for choosing the winners included transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies

HSBC acts as sole ESG structuring agent for Saudi National Bank's sustainable finance framework

SNB's Sustainable Finance Framework consists of four main pillars: promoting sustainable financing; preserving the environment; empowering individuals and communities, and promoting principles of ethical governance

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