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

Egypt’s banking sector sees 27% growth in deposits and credit facilities

Egypt’s fiscal year runs from July 1 to June 30 of the following year.

CIB Successfully Closes EGP 7Bn Sukuk Issuance For Tasaheel

Several banks acted as underwriters for the issuance

Weyay Bank opens the doors to digital financing: Fully digital loans for the first time in Kuwait

This step comes in line with Kuwait 2035 Vision, which aims to transform Kuwait into a financial and trade hub regionally and internationally through digital transformation

HSBC to sell Bahrain retail banking operations as restructuring progresses

The deal will see a transfer of retail loans, deposits and accounts of about 76,000 customers to BBK

Emirates NBD to issue $1bln AT1 capital securities priced at 6.25%

Dubai’s largest lender will list the issuance on Euronext Dublin and Nasdaq Dubai

Housing Bank Named 'Top Employer Jordan 2025' for the Third Consecutive Year

The certification process involves a comprehensive evaluation of several key areas

NBO launches graduate program to empower future leaders in Oman’s banking sector

The National Bank of Oman (NBO) has launched its Graduate Program (NBO Tomorrow’s Leaders), designed to attract and develop talented graduates from diverse fields.

Checkout.com Becomes the First Acquirer in the UAE to Launch Visa Direct Push-to-Card Solution

The Push-to-Card solution enables merchants and consumers in the UAE to send money quickly and easily to eligible Visa cards, offering near real-time fund disbursements.

BankDhofar elevates government financial management with Treasury Single Account integration

By aligning with key government initiatives, the Bank contributes significantly to effective financial management and operational efficiency.

Suez Canal Bank aims to become key player in Egypt’s financial, banking sector: CEO & managing director

The bank’s investment strategy includes launching or investing in financial arms specialising in non-banking financial services

Ant International opens first Middle East office in Saudi

Ant International operates in 200 markets worldwide, serving 90 million merchants with its financial and digital solutions.

KIB Group achieved profit of $75mln for the year 2024

Total operating income increased by 26% over 2023

Foreign asset surplus in Egypt’s banking sector reaches $5.2bln in 2024

Net foreign assets first recorded a surplus in May 2024, reaching $13.46bln after a deficit of $3.47bln at the end of April

Banque du Caire leads $75mln consortium to finance Cheiron Egypt Delta’s gas field development

This financial operation aims to provide up to 45.5% of the total $165mln investment required for the project

Bank Nizwa launches tailored priority banking services, enriching banking experiences for high-net-worth clientele

This segment underscores the bank’s unwavering commitment to delivering superior banking experiences, complemented by an array of exclusive benefits and comprehensive portfolio management solutions

Al Salam Bank Net Profit Grows by 40% to Record Levels

Maintaining its position as the largest Islamic bank in Bahrain

FABMISR net profit surges by 153% reaching EGP26.3bln at the end of 2024

The results demonstrated strong and sustainable growth across all key financial indicators compared to 2023

UAE's biggest bank FAB posts 4% rise in FY 2024 net profit; beats estimate

Net impairment charges rose 27% YoY driven by higher provisioning levels

LuLu Exchange taps Fintech Galaxy for open banking payments in Bahrain

The collaboration enables seamless A2A transfers, and LuLu Exchange has become the region’s first licensed cross-border payments company to offer services using the Open Banking infrastructure.

STC Bank: Success in the making for the Saudi telecoms incumbent?

With its first mover advantage and ability to disrupt the old banking guard in Saudi Arabia, it is a bold move by STC.

Retail Banking