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

China’s ICBC boosts Saudi lending with $600mn Zain facility

The two-year dollar loan, which may be extended by another year, will cut costs by about 175mn riyals over the full period.

Al-Baraka Bank ready to purchase Burj Bank; final approval on Aug 22

The ABPL will finalise this merger in the 9th Extraordinary General Meeting of the shareholders next Monday, in which, the shareholders will give final approval to the scheme of amalgamation.

GIB reports $41.7 million first half profit

The year-on-year increase in the Bank’s core income reflects the successful progress in the implementation of the new business strategy to transform GIB into a leading pan-GCC universal bank providing innovative customer-centric solutions.

Commercial Bank of Kuwait H1 profits down by almost one-third

Commercial Bank of Kuwait reported H1 profits down 31 per cent at KWD 11.5 million.

Banking measures aiming to serve Bahrainis with special needs

Bahrain’s retail banks have been instructed to equip one of their branches to serve people with special needs, alongside other customers.

Banque Saudi Fransi Partners with Kaspersky Lab to make online financial transactions safer for users

The bank is committed to protecting its customers from online security threats and increasing cyber security awareness throughout the region.

Doha Bank bags Qatar Domestic Trade Finance Bank of the Year award

Best performing banks from 22 countries recognized

KHCB reports BD 4.22 m net profit in first half

This action reflects the conservative strategy that the bank has adopted for years.

ADCB wins three accolades for Retail and Commercial Banking by the Asian Banking and Finance Awards2016

ADCB was also recognized in theretail banking sectorwith the “Retail Innovation of the Year” award for its introductionof the Voice Biometrics initiative “ADCB VoicePass”, a first in the region.

CBI reports AED 68.7 million net profit in H1 2016

Our strategy is on track, and CBI continues to attract new customers through having the speed and agility of a small bank, and the stability and security of a big bank through our relationship with QNB."

Egypt’s CIB reports higher net income, revenues in Q2

The bank had consolidated net income of 1.46 billion Egyptian pounds

NBAD CEO Alex Thursby won't be part of merged banks' leadership

Thursby was appointed Group CEO of NBAD on July 1, 2013, joining the lender from ANZ Bank where he was CEO of International and Institutional Banking.

United National Bank To Provide Mortgage For Misr Italia Clients

The new protocol grants Misr Italia clients unprecedented financing privileges, it includes various packages that satisfy all the client's needs with long payment period, low interest rates and monthly facilitated installments.

NBAD profits fall 8% to Dh2.65b

This set of results strengthens the rationale of the proposed merger with FGB that was announced earlier this month.

National Bank of Abu Dhabi Q2 net profit dips 4.8 pct, meets forecasts

This compared to 1.45 billion dirhams in the same period a year earlier, while the average forecast of four analysts polled by Reuters was for a net profit in the quarter of 1.32 billion dirhams.

FGB Second Quarter Group Revenue up 3%

Comfortable liquidity position well within regulatory requirements: Advances to Stable Resources Ratio at 91.5% and Liquidity Coverage Ratio above 70%

Burgan Bank wins four awards at the Asian Banking & Finance Awards Ceremony 2016

Burgan Bank has one of the largest regional branch networks across Kuwait, Turkey, Algeria, Iraq, Tunisia

Gulf Bank posts an 11% increase in Net Profit in H1 2016

The bank successfully completed the issuance of KD 100 million in Tier 2 capital in May 2016, pushing its Capital Adequacy Ratio under Basel III to 18.3% against the minimum regulatory requirement of 14.0%.

HSBC says in talks to sell Lebanese business to Lebanon's Blom Bank

The bank employs around 200 people in Lebanon.

Emirates NBD bags Best Customer Experience - Banking at 2016 CXFS Asia Awards

Emirates NBD's strategic focus on offering an enhanced customer experience in recent few years has significantly contributed to the massive growth of the bank.

Retail Banking