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

First Abu Dhabi Bank puts talks to acquire Bank Audi's Egyptian business on hold: sources

The UAE central bank has launched $70 billion worth of capital and liquidity measures to support the economy during the crisis.

Saudi NCB, Samba post profits, diverge on provisions

NCB's net profit was $745.5mln for the period that ended March 31

Emirates Post records 45% increase in last-mile delivery volumes in UAE

It has implemented a series of innovative service solutions to support key players in the sector, such as Amazon, Landmark and Mumzworld.

Fitch Revises Arab Banking Corporation's Outlook to Negative; Affirms IDRs

The Negative Outlook on ABC's IDR reflects also Fitch's expectation of the bank's weaker asset quality, earnings and profitability over the next 12 to 18 months compared with when the ratings were last reviewed on 7 October 2019.

Arab Bank group Q1 net profit drops 36% to $147.6mln - statement

Loans grew 2% to $26.2bln

UAE’s ADCB posts 82% drop in Q1 net profit

Its net loans stood at Dhs247bn and customer deposits at Dhs263bn as of the end of Q1 2020

Bank ABC fuels global growth in trade finance with Fusion Trade Innovation from Finastra

Leading the Fintech agenda in the region, the bank hosts the Middle East and Africa Fintech Forum annually with its subsidiary Arab Financial Services.

QFB reports 7% increase in income to QR34.2m in Q1

Total income also increased by 7 percent to QR34.2m compared to the same period last year. Income from structured products also increased by 27 percent compared to the first quarter of last year.

National Bank of Bahrain launches enhanced virtual training programme

Programme comes as part of NBB’s continuous efforts to support employee career progression and development

Qatar National Bank expected to sell $750 mln-$1 bln in bonds -sources

The bank set its final price guidance at 225 basis points (bps) over mid-swaps, tightening by 35 bps from where it began marketing the notes earlier on Tuesday.

Ahlibank named ‘Best Bank for Treasury Services Qatar 2020’

This is an excellent way to start the year and this award reflects a job well done and is a great recognition from Global Banking & Finance Review of the great efforts the Bank has been making over the last few years.

Qatar National Bank sells $1bln in five-year bonds - sources

The bank has hired Barclays, Credit Agricole, ING, Mizuho, QNB Capital and Standard Chartered to arrange the deal

Results Review : Commercial International Bank 1Q20

Provision formation gobbles 1Q20 earnings; negative impact on core banking income yet to materialize

Ahlibank wins major award

Alinma Bank launches digital cards

Once issued, digital cards can be easily managed through the bank’s Alinma Internet online banking service, and can be added to supported digital wallets including AlinmaPay, Apple Pay, and mada Pay.

RAKBank reports Dh153.5m first quarter 2020 net profit

Additional provisions to combat impact of COVID-19 resulted in Q1 profit decline

Egyptian bank enters region through Kenya

The Egyptian lender focuses on individuals, small and medium enterprises (SMEs), institutions and corporates.

COVID-19: UAE's ADIB bids on digital to drive Islamic trade finance

"We are now executing more Islamic trade finance transactions through our digital platform"

NBF reports Dh75 million first quarter 2020 net profit

Spike in provisions resulted in year on year decline in net profits in Q1

National Bank of Fujairah PJSC - Q1 2020 Results

NBF recorded an operating profit growth of 3.7% quarter-on-quarter and 2.9% year-on-year reaching AED 293.3 million enabling the bank to secure prudent impairment provisions in the face of the unprecedented operating environment

Retail Banking