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

Strong capital base gives SABB buffer against pandemic shock

SABB is focused on three core priorities: Supporting its customers, integrating the two banks and positioning the bank for future growth.

Mashreq Bank outlines investment trends to navigate the global economy in uncertain times

Low interest rates will result in investors hunting for higher yields

GFH takes majority stake in GB Corp

As of December 2019, GB Corp reported total assets of $125 million and assets under management of approximately $500 million.

GFH increases GB Corp shareholding to majority stake of 50.4%

Transaction reflects continued ability to capture strategic opportunities for growth and revenue generation

Egyptian bank Beltone diversifies in hunt for profitability

Beltone, controlled by Egyptian billionaire Naguib Sawiris, had already obtained licences for the new companies this month, hired staff, set up offices and even agreed on some deals.

Shuaa Capital returns back into black

Shuaa's investment banking business continued to increase its focus on capital raising and restructuring mandates

Afreximbank wins 2 EMEA Best Structured Finance awards

Afreximbank’s $100 million global guarantee facility in favour of Orascom Construction was also awarded best structured trade finance deal in Africa.

Saudi banks’ investments in gov’t bonds down 4.6% in H1-20

Total bank investments in Saudi bonds hiked by 21.7% YoY

JPMorgan revamps shareholder activism defense practice -sources

Hunker, who had worked at JPMorgan for 16 years, will join Ernst & Young and lead the professional services firm's push in advising boards on shareholder enragement, three people familiar with the matter said.

EFG Hermes concludes advisory role in $50m sale of Fawry shares

EFG Hermes was ranked first on the ECM ranking league tables for the Middle East & North Africa (MENA) region for the first half (H1) of 2020.

HSBC rolls out trading platform for UAE investors

The number of high net worth individuals (HNWIs), those with investable assets in excess of $1 million, has declined slightly in the first half of 2020 but the UAE still had more than 340,000 HNWIs as of June this year.

BpiFrance seeks more Gulf investors for its LAC I fund

French national bank ready to deploy first tranche of capital

BNY Mellon gets green light on new Saudi Arabia office

The new office opening is in addition to the bank’s Dubai International Financial Centre branch office and a representative office in the Abu Dhabi Global Market. It also has representative offices in Lebanon and Egypt.

MENA M&A transactions totaled $50 billion in the first half of 2020

Saudi Arabia generated the most fees in the region during the first six months of the year

Dubai business conditions show signs of improving as city emerges from lockdown

Non-oil private sector activity in the Middle East’s business hub improved for the first time.

Citi targets more growth in Saudi Arabia after adding over 20 bankers in two years

David Livingstone told a conference on Thursday that while there was no set time-table for the lender to obtain a full banking licence in Saudi Arabia, the outlook for financial sector activity is positive.

Sharjah's Invest Bank to tap reserves to offset Dh.2.2b accumulated losses

It will take a combined Dh901.36m form special and legal reserves to do so

Bank of America takes stake in Dubai's Emirates NBD

The North Carolina-based bank is believed to have bought 100 million shares - about 1.51% - of Emirates NBD

SHUAA steps up support to address frozen credit markets with its strengthened corporate restructuring and financial services

SHUAA brings track-record of structuring and investing over US$ 4 billion of debt deals

Natixis opens investment banking office in Saudi Arabia

Western financial institutions have been seeking opportunities in Saudi Arabia

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