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

Saudi's Al Rajhi Bank reports 3% drop in third-quarter profit

The bank also attributed the decline in profits to a 39.9% increase in credit impairment charges to 465 million riyals.

Standard Chartered Named Best Renminbi Bank In The UAE For The Second Consecutive Year

In 2019, the bank was awarded the title in eight markets globally and three markets regionally, including the UAE, Nigeria, and Pakistan.

FAB is region's safest bank in 2020 - Global Finance

The UAE's First Abu Dhabi Bank (FAB) secured the first spot regionally and the 32nd spot globally in Global Finance' ranking

Commercial Bank of Dubai partners with Al Fardan Exchange to promote eDirham Cards

Customers can visit Al Fardan Exchange to get a new eDirham Hala card or top-up their existing cards conveniently

National Bank of Kuwait's Q3 net profit drops 38% on bad debt provisioning

NBK's posted a net profit of $188.54mln for the period ended September 30

'Brands that embrace digital, purpose and agile are well positioned'

To limit the possibility of being infected with Covid-19, consumers are flocking to the web and their smartphones to buy products and services.

RAKBank nine-month 2020 net profits down to Dh438.64m as provisions cross Dh1b mark

Lower non-interest rate income too proved a burden for Ras Al Khaimah bank

Largest Russian Bank to open office in Abu Dhabi

The agreement covers cooperation in areas including co-investments, debt and equity financing, long-term financing of Mubadala projects in Russia and other territories.

Largest Russian Bank to open office in Abu Dhabi

In late September, the state-owned bank signed an agreement with Abu Dhabi sovereign investor Mubadala Investment Company to "tap the potential of mutually beneficial opportunities ".

Oman starts marketing two-part dollar bond issuance

Bank Muscat, Citi, First Abu Dhabi Bank, HSBC, Natixis, Societe Generale and Standard Chartered have been hired to arrange the deal, which is expected to close later on Wednesday.

Qatar Islamic Bank markets five-year dollar sukuk - document

QIB gave initial price guidance of around 185 basis points over mid-swaps for the sukuk

QDB extends coverage period of National Response Guarantee Program

To benefit from the programme, official representatives must communicate with the commercial or Islamic banks in which they hold accounts for the wage protection system and request for benefit must be submitted only through them.

Ahlibank posts nine-month net profit of QR500.78mn

The non-Mena investors took 90% of the allocations.

Egypt Looks South

While the global economy slows, Egyptian banks aim to expand their foothold in Africa and boost intraregional trade.

TymeBank, UAE-based payments firm team up to target SMEs

Its partnership with SpaceX will provide satellite-powered Internet connectivity on Azure.

Dubai Chamber organises public webinar on effective solutions for late payments to suppliers and subcontractors

Virtual event formed part of a Dubai Chamber Sustainability Network Task force on instigating prompt payment practices

4th Middle East and Africa Fintech Forum to take place in November 2020

Dubbed as the "Davos of Fintech", the Region's top Fintech conference, held under the patronage of the Central Bank of Bahrain and hosted by Bank ABC, returns on a virtual platform to focus on Banking Beyond Digital

Growing demand for three, six-month deposits in August

The increased value of these types of term deposits is justified by the fact that they will pay the same returns of one-year deposits

QIIB bags four awards from REDmoney for successful global issuances

REDmoney emphasised that QIIB’s high rating and its strong financial position qualify it to continue achieving its goals, reaching the target growth rates and expanding in the domestic and foreign market alike.

GCC payment revenue outlook dim: BCG

BCG's outlook suggests that the GCC's payment revenue pool will expand from $23 billion in 2019 to $24.3 billion in 2024

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