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

Oman’s Bank Dhofar to raise capital as much as $300m

Oman’s Bank Dhofar, the third-largest lender in the sultanate by assets, plans to boost its capital by issuing up to 115.5 million rials of Tier 1 capital instruments in 2015

NBAD Sukuk income fund delivers 2.33 per cent dividends

The National Bank of Abu Dhabi NBAD’s Sukuk Income Fund has earned a total income of $798,923.60 which is equivalent to 2.33 per cent of the Net Asset Value as at 27 November 2014 which includes the intended dividend pay-out of $0.1203 per unit.

Qalaa Holdings 3Q14 revenues rise 11 per cent QoQ to EGP 1.7 billion

For the nine months ending 30 September 2014, Qalaa Holdings accordingly reports Revenues of EGP 4,654.1 million, a 34 per cent y-o-y rise compared to the 9M13 pro forma figure of EGP 3,465.2 million.

Emirates NBD forecasts strong retail banking growth in the year ahead

Retail asset growth and improved asset quality expected to support profitability

UAE corporates outperform GCC

Earnings surge 33.5 per cent in first nine months of 2014; banks drive Dubai’s 55.5 per cent leap to $5.1 billion

Israel’s Bank Leumi Boosts Provisions for U.S. Tax Probe

Bank Leumi Le-Israel Ltd. said it’s setting aside more cash to cover the costs of an investigation by New York’s banking regulator into whether the second-largest Israeli bank helped U.S. citizens evade taxes.

Net Income of Al Baraka Bank Egypt Rises by 41% during the First Nine months of 2014

The Bank's financial statements for first nine months of 2014 shows that the total income stood at 1.3 billion LE (approximately US$ 183 million), increasing by 17% compared to same period of 2013.

Barwa Bank net profit rises by 43% in the third quarter of 2014

The results show an increase in the bank's net profit by 43% to reach QAR 641mn compared with QAR 447mn for the same period in 2013.

NBK-Egypt reports EGP 273.5 million in net profits in the nine-month 2014, up 5.6 per cent y-o-y

National Bank of Kuwait-Egypt, the subsidiary of National Bank of Kuwait Group (NBK) in Egypt, reported net profits of EGP 273.5 million in the first nine months of 2014 compared with EGP 259 million in the same period last year, an increase of 5.6 per ce

Net Profits of Al Baraka Turk Participation Bank rise by 21 percent in first nine months of 2014

Al Baraka Turk Participation Bank, a subsidiary banking unit of Al Baraka Banking Group B.S.C. (ABG), announced that it had achieved a distinguished increase of 21 percent in its net profit in the first nine months of 2014 compared to the same period of 2

BLME reports operating income of GBP 13.4 million for 9M 2014

BLME Holdings plc today issues its Interim Management Statement relating to the period ended 30th September 2014.

Ithmaar Bank net profit hits $4.8 million

Bahrain-based Islamic retail bank Ithmaar Bank, yesterday announced a total net profit of $4.84 million for the nine-month period ended September 30 this year, compared with a net loss of $11.97m for the same period last year.

UGB announces nine months net profit attributable to the shareholders of parent of $ 15.7 million

United Gulf Bank B.S.C. UGB today announced a net profit attributable to the shareholders of parent of $ 15.7 million for the nine months ended 30 September, 2014 a 7 times increase over same period last year.

Khaleeji Commercial Bank Announces Third Quarter Financial Results for the period ending 30th September 2014

The Bank has achieved a profit of BD1 million for the last three months ending 30th September 2014 compared to a net loss of BD480 thousands for the same period last year.

SICO's net profit increases by 10% to bd 6.85 million.

Ms. Najla M. Al Shirawi, Chief Executive Officer of Securities & Investment Company, highlighted certain key developments during the first nine months of 2014.

Abu Dhabi’s Aldar Quarterly Net Rises 41% as Leasing Grows

Aldar Properties PJSC, Abu Dhabi’s largest developer, said third-quarter profit climbed 41 percent as leasing revenue grew and homes were completed.

Bahrain's Gulf Finance House swings to Q3 profit

Bahrain's Gulf Finance House reported a profitable third quarter on Wednesday after posting a loss in the same period last year.

GFH reports $15.6 million in net profit for 9M 2014

GFH today announced its financial results for the third quarter and first nine months of the year ended 30th September 2014.

FGB achieves record sales of USD 100 million premiumin 8 weeks for LIC's new insurance product

Unique bancassurance partnership continues to accelerate growth ofthe UAE's insurance industry

Stronger economy boosts major UAE banks’ profits

Major UAE banks recorded strong performance in 2014 as their profits surged due to economic growth and lower provisions for bad debt

Wealth & Asset Management