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

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

Dubai’s Shuaa Capital Q1 net profit falls due to asset write-down

Net operating revenue drops to $24mln

Standard Chartered’s operating profit in Middle East, Africa hits near 10-year high

First-quarter 2022 profits crossed $300mln for the first time in nearly a decade

HSBC becomes Dubai Financial Market's first general clearing member

HSBC is expected to offer its GCM service on DFM Equity Market starting in May. It is also looking at the opportunity to offer equities futures clearing.

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

Imputed fees in the EMEA region decreased 29% to $6.3bln during the first quarter of 2022, according to global data provider, Refinitiv

First Abu Dhabi Bank withdraws offer for Egypt's EFG Hermes

"After careful consideration and in the context of ongoing global market uncertainty and volatile macroeconomic conditions, First Abu Dhabi Bank has decided to withdraw its non-binding offer submitted on 9 February 2022," FAB said

UAE’s investment banks back in action as IPOs and M&A deals await bumper year

It is the same story in GCC’s banking sector - will it break 2007’s record fees of $5.5b?

HSBC launches metaverse opportunities fund for its private banking clients

The UK lender, whose origins are in Asia, is delving deeper into the $800 billion virtual reality market

GFH shareholders approve plan to cross-list shares on Tadawul and ADX

Bahrain-based investment bank will offer $60m dividend in cash and bonus shares for 2021