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

Mashreq posts $95.8mln net profit for 9 months

Maintained sufficient liquidity to offset market volatility and pandemic uncertainty

Bahrain Development Bank enhances financing activity to support SMEs

The bank is investing heavily in digital capabilities to drive customer centricity

Mashreq Bank's nine-month 2020 net profit down to Dh352m from Dh1.76b

On plus side, Dubai bank reported lower non-performing loans compared with second quarter

ila Bank launches a travel campaign

With customers increasingly opening multi-currency accounts and saving for travel plans through “Hassalas”, ila’s savings pot feature, this travel campaign complements ila’s existing intuitive offering which mirrors its users

Adyen to expand into the Middle East, opens Dubai office

This will enable Adyen's existing merchant base to easily move into the region and provide merchants from the region with access to the full strength of the Adyen platform.

Alinma Bank signs acquiring agreement with JCB International for local acceptance in the Kingdom of Saudi Arabia

Alinma Bank's extensive reach in the market will ensure that JCB cardholders will be able to use JCB Cards at their convenience.

Banks in Qatar investing heavily to ensure safe online banking

The number of online transactions and digital payment volumes has been growing increasingly.

MEPCO renews $53.33mln loan deal with Saudi Bank Albilad

The company will use the loan to finance its working capital

Banks’ credit witnesses growth in September

With fall in COVID-19 cases government has gradually eased restrictions imposed on commercial activities to limit the spread of coronavirus.

Top UAE banks report lower Q3 profits on higher impairments

However, performances were well within guidelines and market expectations

NBK organizes a physical activity awareness program for employees

To Promote Good Physical Health

UAE’s net investments in non-financial assets up at Dhs32.2 billion in H1

FTS is a funds transfer mechanism in the UAE wherein transfer of money takes place from one bank to another through the UAE’s Central Bank system.

Abu Dhabi Commercial Bank centers its attention to local marketplace

This move follows the bank's decision to sell the greater part of its banking portfolio in India to DCB Bank Ltd.

Afreximbank, ITFC and BADEA launch Collaborative COVID-19 Pandemic Response Facility

COPREFA will be accessed by eligible central banks, commercial banks and businesses to finance the import of medical supplies as well as agricultural equipment

BankOnUs launches app to revolutionize the business dynamics of FinTech firms

BankOnUs launches technology-oriented app to address key customer challenges and enable easy, reliable and cost-effective financial solutions to them

Fitch affirms Commercial Bank’s rating at ‘A’ with stable outlook

With Fitch’s rating in place, Commercial Bank currently enjoys strong credit ratings from all the major agencies.

Global Finance recognises QIB’s outstanding crisis leadership during Covid-19

Each of the recognised institutions were selected individually by three independent researchers and the Global Finance editor, and the evaluations considered each institution’s efforts to mitigate the pandemic-related challenges.

QNB sponsors annual Qatar Sustainability Week

The Group continues to progress on the execution of its sustainability strategy through its commitments to various national and global sustainable business practices.

Dubai's biggest bank says in due diligence on Egyptian deal

Emirates NBD says 'no certainty' that deal will be completed for Egyptian operations of Lebanon's BLOM Bank

Emirates NBD makes bid for sale of Blom Egypt

The Bahraini Arab Banking Corporation is competing for the acquisition of Blom Egypt and is conducting due diligence work on the deal, which is expected to end in mid-November.

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