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

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.

Banque Misr tender offer for CI Capital receives strong shareholder interest

This comes in at equivalent to 72% of CI Capital shares, and more than the 65% stake targeted by Banque Misr.

UAE banks provided $1.06bln in industrial sector credit facilities for non-residents in 2020

UAE’s loan growth and liquidity picking up pace is reflective of the country's robust financial profile

Alawwal & SABB fully integrate in historic bank merger

Since legally merging in June 2019, the integration saw every aspect of business reviewed to retain the best of each bank, while also investing to make a more competitive proposition overall.

UAE lender CBI seeks shareholder vote to boost capital

QNB, Qatar's biggest lender, owns 40% of CBI.

NBB provides free fire insurance to homebuyers

The initiative was made with our customers in mind, and we aim to continuously assess the various requirements that arise when planning for a house and to better anticipate the responsibilities that our customers come across in the process.

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