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

10 UAE Banks feature in ranking of world's top 500 most valuable

Brand value of world's largest banks contracts for second year running

NBK and Ooredoo Ink a MoU to Collectively Provide Digital Services and Solutions

The MoU was signed by Mr. Salah Al-Fulaij, CEO of National Bank of Kuwait - Kuwait, and Mr. Abdulaziz Al-Babtain, CEO of Ooredoo - Kuwait.

Top UAE banks’ profits drop amid pandemic

The bank said in a statement that total income increased four percent to $6.3 billion from $6.1 billion last year “as the positive contribution from DenizBank helped offset a decline in net interest margin due to lower interest rates”.

Qatar's Commercial Bank plans to raise at least $1 bln via bond sales - CEO

Qatar, a wealthy Gulf state and a top exporter of liquefied natural gas, has based its 2021 budget on an average oil price of $40 per barrel, a conservative assumption which means revenues could be higher than forecast.

Bank Muscat board proposes 35 per cent dividend for 2020

Shareholders would receive a cash dividend of OMR0.025 per ordinary share aggregating to OMR81.238 million on the Bank’s existing share capital.

Commercial Bank commits to Turkey for ‘long haul’

Turkish banks may face an increase in NPLs after extending more credit to keep the economy afloat through currency volatility and lockdown restrictions aimed at slowing the spread of Covid-19.

The Commercial Bank (P.S.Q.C.) announces net profit of QAR 1,301.2 million for the year ended 31 December 2020

The Group reported a net profit of QAR 1,301.2 million as compared to QAR 2,021.0 million for the same period in 2019

Al Khaliji's merger with Masraf Al Rayan neutral to IDRs

Upon the completion of the merger, AKCB will be dissolved and its ratings will be withdrawn. MAR will be the surviving entity, continuing to operate as an Islamic bank

Emirates NBD Announces Full Year 2020 Results

Emirates NBD’s resilient operating performance, coupled with a solid balance sheet will provide a platform for customers to take advantage of growth opportunities in the year ahead.

UAE banking sector still 'in good health': Emirates NBD

Lender optimistic about economic growth in 2021

HSBC launches first cashback credit card

The HSBC Signature Cashback Credit Card complements the existing HSBC Credit Card suite and gives customers a greater variety of payment options to suit their individual needs.

Arab Bank Group reports net profits of $195.3 million for 2020 12% cash dividends

The Board of Directors has recommended to the shareholders the distribution of 12% cash dividends for the financial year 2020

Qatar commercial banks post more than 9% jump in total domestic credit in December 2020

Credit to the general services witnessed a 14.44% year-on-year jump to QR292.75bn, which was about 89% of the total credit to the services sector.

Burgan Bank Intends to Redeem KD100 Million, Subordinated Tier 2 Bonds Issued in 2016

The bonds comply with the Basel III regulatory framework, as adopted by the Central Bank of Kuwait.

Borrowers from ODB benefit from loan deferment

Oman Development Bank provides more than 11,800 development and emergency loans during 2020, with a total value of OMR 68.8 million , with a growth rate of 13 percent compared to 2019.

Saudi Arabia’s bank merger between NCB and Samba to consolidate asset management

NCB Capital likely to go for product diversification into fixed income and alternatives

QIIB names winners of National Day Cards Campaign

The card campaign allows QIIB (debit, credit) cardholders to win prizes with each equivalent to180,000 QIIB points when using QIIB cards (inside and outside) Qatar.

HSBC plans ambitious UAE growth with balance sheet of 'billions of dollars'

Abdulfattah Sharaf, group general manager, CEO of HSBC UAE and head of international, HSBC Bank Middle East Limited, speaks exclusively to Arabian Business as the lender prepares to open its new private banking branch

Ithmaar Bank re-launches Thimaar savings account

Ithmaar Bank is committed to becoming the retail bank of choice,” said Ithmaar Bank Deputy Chief Executive Officer, Abdul Hakeem Al Mutawa.

Bank Audi sal and FAB sign definitive agreement for the sale and purchase of 100% of Bank Audi sae (Egypt)’s share capital

The transaction is expected to be completed within the next few months, following the satisfaction of customary conditions, including the receipt of regulatory approvals in the UAE and Egypt.

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