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

First Abu Dhabi Bank joins Middle East lenders in raising provisions

Banks in the Gulf region are raising provisions to offset an expected increase in sour loans due to the twin shock of plunging oil prices and the coronavirus fallout

The National Bank acquires the Palestine branch of the Jordan Commercial Bank

Shawa explained that the PMA is constantly working to enhance the financial base of the Palestinian banking system in order to ensure the security of depositors' funds and the rights of banks' customers.

Qatar- QIB announces new features to its award-winning Mobile App

The latest update, in response to the prioritized customer needs, enables users to retrieve their username and unblock their access to the App.

Abu Dhabi Commercial Bank Q2 net profit falls 15% as impairments rise

In May ADCB reported an 84% fall in first-quarter net profit as it took impairments of $292 million on debt exposure to NMC Health and payments group Finablr.

Spain’s BBVA underscores support for Erdoğan lending boom

Turkey’s government has flooded the economy with cheap loans from state-run banks and urged private lenders to follow suit to help boost economic growth.

National Bank of Fujairah sees 81.8% drop in first-half 2020 net profit

Bank has taken on higher provisions to cope with unprecedented market conditions

QIB welcomes Al Meera to its prestigious Absher Rewards Programme network

“QIB is happy to add Al Meera’s extended network of hypermarkets and supermarkets to our Absher Rewards Programme network."

Qatar First Bank announces half-year 2020 financial results

As a result, the total costs (excluding one-off impairment costs) were reduced by 27 percent during the first half of the year compared to the same period last year.

Dubai’s Department of Economic Development Launches UAE KYC Blockchain Platform

The blockchain project is being supported by Smart Dubai and the Central Bank of UAE who plays a key regulatory role in the initiative.

FAB Q2 net income slides as provision charges rise

The bank said it focused on 'diligent risk management' and providing relief to its clientele during the second quarter

NBK reports KD 111.1 million net profit for the 1H 2020

“Our economic forecasts indicate a contraction of around 6% in Kuwait’s GDP in 2020 as a result of the economic headwinds resulting from the disruption in commercial activities and the sharp decrease in government revenues as oil prices plunge

Doha Bank posts QR501mn half-yearly net profit

Net loans and advances increased to QR62.5bn (as on June 30) from QR60.9bn for the same period last year, registering a growth of 2.6%.

Jordan's Arab Bank group H1 net profits drop 66%

Lower interest rates and weakening oil prices hurt revenues, the bank said

NBK Provides 24/7 Concierge Service to Its Customers

In this regard, NBK provides an integrated program for Premium Banking Customers (Private Banking, Privilege Banking and Thahabi Package) in partnership with Peacock Concierge.

Commercial Bank wins 'Excellence in Leadership in Middle East' award from Euromoney

Commercial Bank has taken several measures during the pandemic to meet the market’s requirements and help customers with their daily banking needs through digital channels.

QIB announces new features on its award-winning mobile app

The latest update, in response to the prioritised customer needs, enables users to retrieve their username and unblock their access to the app.

Al Khaliji net profit rises 2.6% to QR361mn in H1

On June 30 we issued a joint press release with Masraf Al Rayan expressing our intention to explore a potential merger of the two banks.

Commercial Bank half-yearly net profit tops QR901mn

The operating profit for the group increased by 17.9% to QR1.52bn for the half year that ended in June compared to QR1.29bn achieved in the same period in 2019.

Time ripe for banks to move towards green loans: BAB

Green loans are loans to businesses and projects that consider energy efficiency management, more adoption of renewable energy sources, and reduced waste

First Abu Dhabi Bank wins global tender to be Etihad partner

Abu Dhabi bank will handle all of Etihad's online and offline card-related transactions

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