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

Saudi Arabia’s banks see continued growth in loans & advances, deposits, and profitability in second quarter

Growth in operating income (+1.9 percent) mainly on the back of higher net interest income

EY moving financial services partners to KSA to tap market opportunities

EY’s growth in the financial services landscape is driven by an expansive market, on the back of developments such as a growing banking sector

Moody’s upgrades outlook on six Omani banks to ‘positive’

The rating agency further mentioned that the positive outlook on the long-term deposit ratings suggests that a downgrade in the near term is unlikely.

Public sector loans drive Qatar banks’ credit growth in July: QNBFS

The real estate sector was the main driver for the rise in private sector loans in July.

Algeria joins BRICS New Development Bank

The Algerian Ministry of Finance considers this a momentous move after a year has passed since the application for membership was submitted

Residential transaction volume surges by 35% in Q2 2024

Experts note that this surge may be partly attributed to the recent developments witnessed in mortgage regulations, which projects 15 percent annual growth.

GCC banks set record with $21.5bn in Q2 lending profits

The quarter saw one of the highest total interest incomes at $52.2 billion, with a credit yield averaging 4.3 percent.

Explosive Growth of Crypto Millionaires in 2024

Volek concludes that as the lines between traditional and digital finance continue to blur, the synergy between investment migration and cryptocurrencies grows stronger.

How digital banking is driving the UAE's sustainability agenda

The growing demand for digital financial services and the rapid adoption of fintech solutions are driving economic growth while enhancing the banking industry’s competitiveness.

From Geneva to Dubai: Lombard Odier shares its private banking ambitions in the Middle East

Malik is based in the gate building of the Dubai International Financial Centre.

Top ten UAE banks exhibited improved asset quality, higher profits in Q2 2024

Six out of the top ten banks reported a deterioration in the cost efficiencies.

Kuwaiti banking sector benefits from M&A increase

In June, Burgan Bank decided to acquire a 100% stake in Bahrain’s United Gulf Bank

505 new firms join QFC platform in the rest first half of 2024

This strategy was part of QFC’s efforts to increase the inflow of foreign investments, diversify the economy, and position the country as a leading tech hub in the region.

Cushman & Wakefield Core Dubai Q2 2024 market update

Signs of moderation starting to emerge in the residential secondary sales market with transaction volumes plateauing

Ahlibank announces new batch of its ‘HIMAM’ program

The HIMAM development program has been highly successful since its inception, as it has enabled Omani youth with the needed skills to begin professional careers in the prosperous banking sector of the Sultanate of Oman

PwC Middle East survey highlights gap between companies’ ESG initiatives and employee priorities

92% of employees in the Middle East are more likely to stay with their employers if total rewards were enhanced

Oman’s foreign reserves increase by 9% in May

This growth in liquidity suggests a vibrant and expanding economic activity, with more funds circulating within the economy.

Saudi banks’ money supply increases 9% in June to reach $773bn

These represented the second-largest portion of the total money supply

The state of Saudi Arabia's economy mid-way 2024

A rundown on some of the key takeaways from the in-depth economic report

AlShamlan: KFH Achieves Best ESG Risk Rating among Kuwaiti Banks

He emphasized that investors are increasingly drawn to companies that incorporate sustainability standards into their operations.

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