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

GCC outlook ‘positive for investment banking’

The Viewpoint reviews the impacts of recent disruptions and explores options for banks to strengthen and grow their corporate and investment banking (CIB) business.

ADFD and AIIB explore ways to strengthen cooperation over sustainable economic development

The UAE participated in the seventh annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank in October of this year

Citigroup targets more deals in Gulf region

The Gulf region has become a bright spot for public share sales this year, boosted by high oil prices and government-led privatisation programmes.

EFG Hermes reports a near two-fold increase in revenues to EGP 2.3bln in 3Q22

Robust results recorded by the Investment Bank and NBFI platform, supported by the consolidation of aiBANK, drove the Group’s exceptional revenue growth in 3Q22

SHUAA Capital delivers AED 20 million net profit in Q3 2022 driven by strong recurring revenues

SHUAA is well positioned to benefit from the GCC's positive economic outlook despite the weak global backdrop.

Lesha Bank recognised as 'market leader' in Qatar's investment banking by Euromoney

Lesha Bank’s rebranding move is bolstered by its new business model and comes as part of its natural progression at a time of important transition, pursuing further growth both locally and internationally.

EFG Hermes successfully concludes advisory on UAE-Based AD Ports acquisition of a 70% stake in Transmar and TCI

This transaction marks AD Ports’ first ever investment in Egypt

EFG Hermes accelerated direct purchase of a 4.80% stake in Credit Agricole Egypt S.A.E

Additionally, Zulficar & Partners acted as legal advisor to Credit Agricole S.A with regards to this accelerated direct purchase

HSBC names new team of dealmakers for private markets drive

A slump in equity capital markets deals in 2022 has made private markets teams more integral to banks

EFG Hermes Holding carries forward strong momentum and delivers 28% Y-o-Y revenue increase in 2Q2022

Group operating revenues grew by 28% Y-o-Y to EGP2.1 billion in 2Q2022

GFH’s second-quarter profit climbs on higher investment banking income

The Bahrain investment bank reports $23m in profit during the period

Shuaa Capital swings to second-quarter loss amid rising expenses

Dubai investment bank's net operating loss widened to $8.9m during the three-month period

Saudi Investment Bank shares jump 2% as it declares $80m dividends for H1

In terms of earnings, the Saudi-listed bank saw a 34-percent profit growth to SR287 million in the first quarter of 2022 which it attributed to higher operating income.

EFG Hermes successfully concludes advisory on UAE-based Agthia’s majority acquisition of Auf Group

The transaction follows a series of successful advisory transactions in the GCC and Egypt since the start of the year

EIB, Banque Misr strengthen cooperation to support SMEs and sustainability financing

The first technical assistance programme will further strengthen credit risk management and adoption of SME financing best practice to enable Banque Misr to increase financing for smaller companies.

Emirates NBD Group and BNY Mellon announce strategic alliance to accelerate growth of UAE capital markets

Collaboration leverages BNY Mellon's global capabilities with Emirates NBD's regional expertise and deep footprint in the UAE market

Global investment banking fees fall 31% to three-year low

JP Morgan maintained the top spot for investment banking fees earned during the first half of 2022 with $3.8 billion

China Renaissance considers investments in high-growth Middle East companies

Chinese investment bank is also exploring options to expand in the region, chief executive Fan Bao says

EBRD, EIB and World Bank launch new report on MENA’s economy

The chart shows average GDP per capita growth for 2008-2020. Benchmark groups based on unweighted country averages.

EFG Hermes closes advisory on Ali Alghanim’s $323mln private placement

EFG Hermes noted that Ali Alghanim IPO marked the Egyptian Exchange’s listed firm’s first IPO on the Kuwaiti exchange where it acted as joint bookrunner for the offering