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

Bahrain Sovereign Fund Mumtalakat 2015 Net Profit Drops 68.7 Pct

Bahraini sovereign fund Mumtalakat posted a 68.7 percent drop in 2015 net profit on Sunday, as the state-owned investor cited impairment losses for the decline.

IIB Posts Net Profit Of $0.24 Million

The bank had made a net loss of $15.0m for the fourth quarter of 2015.

Hapoalim reports 16.5% fall in Q1 profit

Net Profit totaled NIS 674 million

Gulf Bank posts KD 8.8 mln net profit in Q1 – Total assets up by KD 65 mln to KD 5,459 million

We have achieved these results by continuing our policy of pragmatism and good governance, coordinated by a very capable and committed Board of Directors, and executed by our management team and staff.

Ezdan's $500m debut Sukuk a huge hit

The transaction, which announced on 3 May 2016, is the first milestone in Ezdan 's $2bn Sukuk programme.

Ithmaar Bank reports net profit attributable to equity holders of the bank of US$ 1.22 million for the First Quarter of 2016

Net profit attributable to equity holders of the Bank for the first quarter of 2016 was US$1.22 million, which is lower by 54 percent compared to the US$2.64 million profit reported for the same period last year.

SHUAA Capital reports net loss

SHUAA Capital today announces its Q1 results with an increase in total revenues to AED 45.5 million and a net loss of AED 27.5 million

ABK Posts Operating Profit Of KD 22.1 MLN In Q1

Al Ahli Bank of Kuwait (ABK) today announced an operating profit of KD 22.1 million for the first quarter of 2016, after a one-off investment loss of KD 2.3 million on investments disposal, compared to KD 21.8 million for the corresponding period in 2015.

Union Insurance Posts a 40% Increase in Gross Insurance Premium in Q1 2016

Union Insurance posted a gross technical profit in first quarter of 2016 of Dhs25 million compared to Dhs27 million in Q1 2015.

Kuwait's Gulf Bank Q1 net profit slips 10 pct as bad loans weigh

It attributed the net profit fall to a 14 percent increase in provisions and impairment losses

Egypt's CIB Reports 17 Pct Rise In Q1 Net Profit

Commercial International Bank, Egypt's largest-listed company, reported a 17-percent rise in first-quarter net profit helped by improved interest margins.

Global distributes USD35 million to its clients investing in its private equity funds

The Direct Investment Fund is Sharia compliant and also focuses on the GCC markets.

Strong first quarter for QInvest

The new company has been granted a license to operate by The Capital Markets Board of Turkey and is licenced to offer portfolio management to both individual and institutional investors.

EFG-Hermes loses EGP 63m during Q1 of 2016

The company’s financial results showed that its fees and commission income rose by 7% during the first quarter of the year, compared to 2015.

QInvest announced net profit QAR 37 million for Q1 2016

QInvest today announces a strong start to the year, with an increase of 36 per cent revenues for the first quarter to QAR 102 million ($28 million) and net profit up 34 per cent to QAR 37 million ($10 million).

Abu Dhabi's major investment drive mapped out in 2016 economic report

Oxford Business Group launches tenth-anniversary report on emirate's economy.

Aldar Properties Q1 2016 net profit increases 15%

In April, Aldar announced the launch of Yas Acres, an AED 6 billion golf and waterfront development including 1,315 villas and townhouses.

GCC bond, sukuk markets improve; IPOs weak in Q1

In sovereign issuances, the Central Bank of Kuwait and the Central Bank of Bahrain were the most active players during this quarter.

Credit Growth Expected To Slow

For the June quarter, respondents to a UAE Central Bank survey expect marginal tightening in credit standards, while the appetite for business lending is expected to improve further.

Dubai: Damac's Q1 2016 net profit slumps 15%

Cash and bank balances for the developer stood at $2.5bn (AED9.4bn), while development properties' value was also recorded at $2.5bn (AED9.4bn) for the period.

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