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

UAE banks' profits deteriorate; bad loans likely to go up

Challenging economic conditions result in higher non-performing loans for Q3

ADIB provides AED 91 million financing for UAE-based client to acquire UK Business Park

The financing will be used to acquire a AED 141 million (£29.1 million) business park on the UK's south coast, which will provide the client with a cash on cash return of 8%

QDB concludes 1st virtual edition of Qatar Entrepreneurship Conference

This year, and in co-ordination with relevant institutions, we were able to present a distinguished edition of the Conference that received great feedback from all participants.

Top UAE banks face ‘sizeable’ surge in NPLs

The total interest income of these banks continued to decline for the third consecutive quarter

Qatar- Banks record impressive growth in assets

Qatar Islamic Bank's (QIB) total assets stood at QR170bn the end of third quarter of this year, registering year-on-year growth of 9.8 percent compared to September 2019, helped by continued growth in the financing and investment activities.

Global debt on track to exceed $277trln in 2020 - IIF

Debt in the Emerging Markets (EM) rose from 222% of GDP in Q4 2019 to over 248% of GDP in Q3 2020

Kuwait International Bank hires banks for dollar sukuk - document

KIB hired Citi, Standard Chartered, Boubyan Bank, Emirates NBD Capital, First Abu Dhabi Bank, Kamco Invest and KFH Capital

Oman talks to banks about new loan of at least $1 billion

Rated below investment grade, Oman issued $2 billion in bonds last month

Bank Hapoalim Announces Third Quarter 2020 Financial Results

The bank continues to implement various cost efficiency measures

KFH introduces digital account opening solution – Baitek

Customers can enter the application and complete transactions

Qatar banks post strong growth in deposits: QCB

The commercial banks’ domestic personal deposits expanded more than 12% with those of non-Qatari individuals soaring 21% to QR44.91bn and those of Qataris by 10% to QR168.28bn in September 2020.

Turkey may need to deliver smaller rate hike: Morgan Stanley

Most forecasters surveyed by Bloomberg – including economists at Barclays Plc, Goldman Sachs Group Inc and UniCredit SpA – predict an increase of 475 basis points in the benchmark to 15%.

Qatar National Bank closes syndication of $3.5 billion loan

The loan included a $2 billion three-year tranche and a $1.5 billion five-year tranche and will be used for general corporate purposes.

Burgan Bank announces Net Profit of KD 32.6 million for the First Nine Months of 2020

As for the quarter ended September 2020, Burgan Bank announced a Net Income of KD 9.8mn compared to Q2'20 Net Income of KD 5.5mn

Saudi Banks Boost Main Stock Index Amid Recovery Bets: Inside EM

Tadawul All Share Index advances as much as 0.9% on Sunday

Saudi Arabia backs Egypt’s digital future, crafts with $6.4m grant

The bank’s portfolio in the medium, small and micro enterprises sector is worth about $600 million

Emirates NBD adjudged Best Retail Bank in the Middle East once more

The awards are testament to our customer-first philosophy and continued commitment to advancing digital banking innovation.

Bank ABC announces its Q3 and nine months 2020 Results

The year to date Net Loss attributable to the Shareholders of the Parent was US$56 MUS$67m at end of H1, continuing to be affected by an increase in Loan Loss Provisions largely related to a major fraud case and Covidillion, improved from -19 impact

Ithmaar Bank announces third quarter results

Continues its focus on customer-centric growth

BisB wins top Islamic banking award at Finnovex

BisB has continued to drive digital transformation in the financial industry, establishing itself as a pioneer of the Islamic finance industry and the leading provider of Sharia-compliant integrated financial solutions in the Kingdom of Bahrain.

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