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

Saudi public banks report 10% drop in H1 profits

The aggregate ratio of net income to assets was strong at 1.6%, but down from 2.1% in first half 2019 and 1.9% in 2019.

Bank Nizwa records 37% growth in net profits

The bank’s performance is quite commendable as it has been achieved under an extremely challenging Covid-19 affected market environment.

Burgan Bank Announces First Quarter and Half Year Results of 2020

Burgan’s Net Income reduced due to higher provisioning in response to the Covid-19 pandemic.

Qatar- QNB earns two prestigious GBO awards

The Global Business Outlook awards aim to recognize and reward excellence in business to companies all over the globe, both in the public and private sectors.

UAE banks headed for more job losses in second half of 2020

Shrinking interest margins and non-interest incomes force banks to cut costs further

EBRD provides Banque Misr with $100M loan BY

Minister of International Cooperation Rania al-Mashat stated earlier that cooperation volume between Egypt and the European Bank for Reconstruction and Development amounts to €6.5 billion through 115 projects.

QIB rewards cardholders with additional Absher points

As part of the campaign, top 1,000 customers’ cardholders will get a free subscription to QIB-MyBook App

SABB’s Waafer savings account voted ‘product of the year

Waafer was launched last year as an alternative to traditional savings accounts.

National Bank of Bahrain Wins Middle East’s Best Bank Transformation Award

Investments in human capital development have been fundamental to achieving the Bank’s vision, with a major part of its transformation focus being the re-engineering and upskilling of its internal talent pool.

Qatar- Commercial Bank wins Banker award for 'Innovation in Digital Banking'

Throughout the year, Commercial Bank has been the first to deliver several innovative digital banking services in the market such as "CB Household Worker PayCard", "CB Pay", and "CB Pay for Merchants."

RAKBank reports Dh306m first half 2020 net profits

Decline in profits attributed to higher provisions

NBK Warns Customers Against the Spread of Coronavirus Related Fraud

In this context, the bank continues to run its awareness campaigns and provide customers with advice and guidance on bank account fraud and ways to protect themselves.

Saudi banks exceed maximum loan-to-deposit ratio in Q2-20

Time and savings deposits rose by 1.4%

Companies Supporting the UAE Fintech Ecosystem During COVID-19

After launching its ‘Insure Now, Pay Monthly’ service recently, the Souqalmal team has now boosted efforts to make the installment option even more accessible and affordable for UAE vehicle owners.

NBB H1 profit down 27.3% on Covid-19 impact

Operating income rose by 16.8% y-o-y to BD74.5 million ($197.6 million) compared with BD63.8 million ($169.2 million) in the prior year period.

Qatari Commercial Bank Says The Worst Oil Shock Is Over

The crash in oil prices has already sparked a wave of mergers and acquisitions in the banking sector across the Middle East, with lenders in Saudi Arabia, Qatar, the UAE, Kuwait, and Oman considering tie-ups.

First Abu Dhabi Bank joins Middle East lenders in raising provisions

Banks in the Gulf region are raising provisions to offset an expected increase in sour loans due to the twin shock of plunging oil prices and the coronavirus fallout

The National Bank acquires the Palestine branch of the Jordan Commercial Bank

Shawa explained that the PMA is constantly working to enhance the financial base of the Palestinian banking system in order to ensure the security of depositors' funds and the rights of banks' customers.

Qatar- QIB announces new features to its award-winning Mobile App

The latest update, in response to the prioritized customer needs, enables users to retrieve their username and unblock their access to the App.

Abu Dhabi Commercial Bank Q2 net profit falls 15% as impairments rise

In May ADCB reported an 84% fall in first-quarter net profit as it took impairments of $292 million on debt exposure to NMC Health and payments group Finablr.

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