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

Saudi banks set to outperform their regional peers in 2021-2022

By 2022, we expect the expiry of OPEC+ quotas and higher oil prices to boost economic activity to close to 3 percent.

Commercial Bank to hold webinar on investment opportunities in Turkey

During the event, Project Director for the Mena Region at the Investment Office of the Presidency of the Republic of Turkey, Abdullah Deniz will also present the investment options in Turkey

Saudi Bank AlBilad to issue $800mln riyal-denominated sukuk

Offer may also include an option for the holders of the $533mln sukuk, due in 2026, to exchange their investment for the Tier 2 sukuk

Al Baraka Banking Group Holds its Annual General Assembly Meeting

The General Assembly then reviewed the Corporate Governance Report in accordance to the Central Bank of Bahrain regulations in this regard.

Dukhan Bank ratings reflect Qatari economy's strength and robustness: Chairman

The best banks are selected based on evaluation of long-term ratings from international credit rating agencies: Moody's, Standard&Poor's, and Fitch; as well as the quality of the banks' financial performance.

Bank Muscat AGM approves 25% cash dividend, 10% bonus shar

At the meetings, shareholders agreed to increase the authorised capital of the bank to OMR450 million from OMR350 million previously.

ADCB recommends AED1.878 billion in cash dividends for 2020

Therefore, it is a point of pride that ADCB has played its part in the national response by protecting our economy and the livelihoods of key stakeholders.

MMA invites The National Bank of Ras Al Khaimah to become the first bank in the UAE to join as a board member to accelerate its digital transformation in mobile banking

RAKBANK will add value to MMA's mission to shape the future of marketing

NBK-Bahrain reports net profits of BHD 117.51 million (KWD 94.68 million) for 2020

Al-Sager: NBK-Bahrain's profits reflect the success of the regional expansion strategy in hedging against risks and diversifying income sources

BBVA says commitment to Turkey unchanged, shares fall 6%

The sacking of Naci Agbal sparked fears of a reversal of recent rate hikes and increased market volatility

Doha Bank hires prepares for international bond sale -documentl investment business.

ING is leading the deal

Egypt Post Becomes Member of Union of Arab Banks

The Union of Arab Banks includes the best bankers and financial and economic experts from 350 banks.

Turkey hikes main interest rate to 19% to counter inflation and weak lira

The bank’s main rate was raised by a greater-than-expected 200 basis points.

S&P reaffirms QIB ratings at ‘A-/A-2’ with stable outlook

QIB displayed good resilience to the economic shock in Qatar in 2020.

Rise in Mergers and Acquisition activity in GCC banking sector

This has resulted in banks experiencing surge in non-performing loans or credit losses, further impacting net income margins.

UAE gross bank assets at Dhs3.172 trillion at the end of January

Gross credit in the banking system grew from Dhs1.779 trillion by the end of December 2020 to Dhs1.779.2 trillion in January 2021

NCB, Samba to relocate some branches as lenders combine

The new Saudi National Bank will have 503 branches in the Kingdom, around a quarter of all bank branches in the country

Why large UAE banks’ 2020 profit decline is manageable

The big four reported 35 per cent year on year decline in profit

Doha Bank shareholders approve extension period for bond issuance under EMTN programme

Also, the meeting endorsed the board of directors’ 2020 corporate governance report, balance sheet, and profit and loss account for the financial year ended on December 31, 2020.

Government projects to boost Qatari banks’ lending growth

The total domestic credit grew to QR1.05 trillion at the end of December 31, 2020, as per the QCB figures.

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