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

Al Masraf reports net profit of AED 231mln in 2024

Representing an Increase of 22%

SICO named best investment bank in Bahrain

For sixth consecutive year

Dubai's Mashreq to work with Goldman Sachs to cater for rich clients

Our strategic collaboration with Goldman Sachs represents a pivotal milestone in institutionalising our investment platform

UAE Bank Investments Jump 16% To $202B In January

Held-to-maturity bonds also grew 7.9% annually to $91.4 billion (AED 335.7 billion), although they saw a slight 1.1% dip compared to the previous month.

UAE banks investments reach $202bln by end of January

Banks' investments in equities grew by 19.4 percent year-on-year

EFG Foundation, Bank NXT Foundation, and Kaf Insurance sign an agreement with the Magdi Yacoub Heart Foundation

To support training and qualification of nurses at the Aswan Heart Centre

NBB expands mortgage financing for Bahraini expats in Saudi Arabia, UAE

As part of NBB's dedication to providing comprehensive and accessible housing solutions, the bank is leveraging its strong presence in Saudi Arabia and the UAE to assist clients in securing their ideal property in their homeland

EFG Hermes completes advisory on $333mln IPO of Asyad Shipping Company on the Muscat Stock Exchange

Asyad Shipping offered a total of 20% of its total issued share capital

QNB Capital named Best Investment Bank in Qatar 2025 by Global Finance

This award is a testament to our unwavering dedication to delivering innovative financial solutions

UAE's FAB prepares overhaul, picks Citi veteran as new investment banking head, sources say

As part of the reorganisation, FAB is set to hire Citi dealmaking veteran Linos Lekkas as its new head of investment banking, the sources said

Bank of Bahrain and Kuwait partners with JP Morgan Chase

In addition, the system automates complex processes to facilitate faster and more secure cross-border transactions.

EFG Hermes successfully completes USD 2.84bln marketed offering of ADNOC Gas shares on behalf of ADNOC

The transaction, which involved the sale of approximately 3.1 billion shares representing a 4% stake in ADNOC Gas and valued at USD 2.84 billion, marks the first-ever marketed offering in the UAE and the largest placement on the ADX to date

Turkish export credit bank in 2024 financed $7.8 billion

These developments made FX deposits more attractive among other commercial loans for exporters

Al Ahly Pharos closes advisory on Capital Securitization’s $99mln securitization issue

This transaction was implemented in cooperation with NBE, Arab African International Bank, and Suez Canal Bank who acted as the transaction’s underwriters

EFG Hermes Closes EGP 1.78 Billion Securitization Deal for Bedaya Mortgage Finance

The issuance comes as their fifth since inception and the third in a wider EGP 10.0 billion program.

Citibank honours QIIB with ‘Excellence in Straight Through Processing Payments’ award

Citibank explained that the award was granted to QIIB in recognition of its outstanding performance

EFG Hermes concludes $13.51mln securitized bond issuance for valU

The bonds are backed by a receivables portfolio assigned to EFG for Securitization, the special purpose vehicle managing the issuance

HSBC leads as MENA’s top earner in investment banking fees

HSBC was followed by Standard Chartered ($56.5 million) and First Abu Dhabi Bank ($56 million) in the league tables

EFG Hermes introduces streamlined custody arrangement and asset servicing arrangement services across 40 markets

The service is designed to address the unique challenges faced by HNWIs, family offices, and small- to mid-sized funds in accessing custody arrangement services

EFG Holding continues to report solid performance in the second quarter of 2024

EFG Hermes, the Investment Bank, saw its Investment Banking division report all-time high revenues together with Brokerage revenues shooting up