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

FAB reports a Group Net Profit of AED 2.5 Billion for the first quarter of 2021

Financial results for the first quarter ended 31 March 2021

Saudi Arabia's Al Rajhi Bank's first quarter profit surges 40% on stronger economic recovery

The country’s second-largest lender by assets reported a profit of more than $890m

Burgan Bank Celebrates The Graduation Of 16 New Burganers

“A significant part of Burgan Bank’s strategy is to recruit and qualify national talent and banking-oriented students to perform their very best in this dynamic sector. Investing in capacity-building and the comprehensive training of our youth

NBK reports KD 84.3mn net profit for Q1

Total assets as of end of March 2021 grew by 1.5% year-on-year to reach KD 31.0 billion

Dubai's Emirates NBD Group’s first quarter 2021 net profit at Dh2.32b, gaining 12%

Lower provisions, improved costs and higher income lift earnings at mega-bank

Bank of Cairo announces new expansion step on the continent

Bank of Cairo is also a minority shareholder in the African Export-Import Bank, which gives it insight into the trade finance needs of Africa.

Citigroup to exit retail banking in 13 markets, including Bahrain

The move is part of an ongoing review of the company’s strategy by its chief executive officer

Bank Muscat reports net profit of OMR47.15 million

Non-interest income was OMR 37.68 million for the three months period ended 31 March 2021 as compared to OMR 34.39 million for the same period in 2020, an increase of 9.6 per cent

Citi to close retail banking in Bahrain, India, China

Meanwhile, Citigroup reported a net income for the first quarter 2021 of $7.9 billion, or $3.62 per diluted share, on revenues of $19.3 billion.

Dubai Islamic Bank successfully closes lowest-ever pricing on an AT1 issuance from the GCC

This transaction represents the lowest ever pricing achieved by a GCC bank (both conventional and Islamic) on an Additional Tier 1 instrument and the lowest ever on a USD AT1 Sukuk globally

Banque Misr achieves LE 24B in profits in FY 2019/20

The bank’s retail portfolio reached some LE 47.9 billion in June 2020 versus LE 31.5 billion in June 2019 with 2.1 percent growth rate.

UAE banks’ loan loss provisions surge 71.6% to $8.2bln

According to Moody’s, the four biggest UAE banks reported a 43 per cent jump in bad loan provisions in 2020

Qatar- Commercial Bank successfully taps Swiss franc bond market for fifth time

This latest deal is a 'great result for Commercial Bank, demonstrating its financial strength and the confidence the bank has earned from debt and equity investors.

Al Salam Bank launches the Danat Savings Scheme for 2021

Al Salam Bank unveils new prize categories for its Danat Savings Scheme with daily and monthly cash prizes available throughout the year, alongside a brand-new category for 'Never Before A Winner'

OAB Receives K2 Middle East Workflow Hero Award 2020

In recognition of efforts aimed at enhancing customer experience and solving complex challenges across the business

Qatar National Bank net profit falls 7% as provisions climb

The cost to income ratio improved from 25.6 percent in the first quarter of 2020 and 24.3 percent in the fourth quarter.

QIB Profit grows by 9% to reach QAR 750 Million for three months' period ended 31st March 2021

Total Assets reach QAR 180 Billion

Central Bank of Oman unveils new brand identity

The motifs, which are placed at the centre of the logo, create a mental image in one’s mind, and present a strong perception and visual, symbolising the primary authority of the bank and indicating its vision, mission and goals.

Saudi’s Islamic Development Bank lists $2.5bn sustainability sukuk on Nasdaq Dubai

The total value of the bank’s sukuk listed on Nasdaq Dubai stands at $17.14bn

ahlibank’s OMR30 million rights issue oversubscribed 1.29 times

Post issue, the bank's issued and paid-up share will increase to OMR194.9 million from the current OMR164.9 million.

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