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

COVID-19 impact: Qatari banks to see high provisioning costs in 2021

Combined net profit of Qatari banks declined 12% to $5.6bln in 2020

Arab Bank named the Middle East’s Best Trade Finance Provider 2021

This global recognition is a testament to Arab Bank’s solid performance and long success record driven by its institutional vision and constant efforts towards adopting the latest technologies in the banking industry

Shareholders approve new mega-bank - Saudi National Bank to launch on April 1

Entity created from NCB and Samba Financial Group merger will have 30% market share

Abu Dhabi bank inks deal to acquire mortgages worth $300m

Abu Dhabi Commercial Bank to acquire a portfolio of about 1,000 mortgages from Abu Dhabi Finance

Akbank Seeks Cheaper Foreign Borrowing in Test for Turkish Banks

The lender paid 35 basis points more on dollar and euro facilities when it raised a loan of around $800 million in October.

Turkish banks’ net profits reach $594M in January

Loans, the biggest sub-category of assets, were around TL 3.6 trillion ($487.5 billion), posting a 32% rise year-on-year.

SABB reports resilient Q4 results, net income up by 7%

The fourth quarter of 2020 saw an acceleration in the integration of SABB and Alawwal Bank, with full integration expected by the end of the first quarter of 2021.

ADCB inks agreement to buy 1,000 mortgages from Abu Dhabi Finance

The assets have a gross book value of about Dh1.13 billion as of January 31, 2021

Mashreq recognized as market leader for its best in class transactional banking services in the Middle East by Euromoney

Recognized as 'Market Leader' in the UAE and the Middle East region in the Euromoney Trade Finance Survey 2021

Saudi's Riyad Bank announces $399mln cash dividend

Board recommends payout despite 12% net profit decline

Total net income of Al Baraka banking group reaches US$166 million in 2020

With Total Assets exceeding US$28 billion

Commercial banks' total assets jump 8.55% year-on-year to QR1.69tn in January: QCB

Total domestic assets were seen expanding 10.17%; while foreign assets were down 0.8% year-on-year in January 2021.

Saudi's Samba-NCB new entity to finance development projects: Chairman

$213mln a year budget is attributed to cut in cost of technology systems for the two banks

QFB’s performance improved in 2020: Chairman

In addition to a sustainable fee income stream, a drop in funding costs along with a better-managed deposits book helped improve the bank’s balance sheet and overall liquidity position.

Bank ABC Islamic announces 2020 year-end net profit to US$28.6 million

The Bank remained resilient during the year and responded well to the pandemic across all fronts

Banque BEMO launches a deposit protection program

The program will be effective first, for the clients holding their accounts at Banque BEMO in Cyprus, and who transfer their deposits to the Bank in Lebanon

NCB and Mastercard Launch Best-in-Class Credit Card for Corporates in Saudi Arabia

Through the commercial credit card, our large corporate customers as well as SME clients will be able to make cashless transactions seamlessly and conveniently, while maintaining a stronger control over their cash flows.

Dar Al Takaful repays $27.2mln Emirates NBD financing ahead of schedule

The company made a net profit of $6.13mln in 2020 compared to $1.33mln in the previous year

Open banking can transform payments scene in Saudi Arabia

This allows those third parties to build products and services for the financial institution’s customers.

Dukhan bank enhances its corporate digital services

Launch of the Shari'ah-compliant Point-of-Sale Solution

Retail Banking