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

The Best Arab Co-Branded Credit Card award in the Arab world for LGB BANK

Commenting on the occasion, the Vice Chairman CEO of LGB BANK

Commercial Bank announces net profit down 65 per cent for Q2 2016

The Commercial Bank Q.S.C. and its subsidiaries and associates announced today its financial results for six months to 30 June 2016.

Ahlibank earns net profit of QR332.7mn in 1st half

The bank’s cost to income ratio was contained at 31.2% for the first half of this year.

GCC debt market seen staying steady

Appetite for GCC debt is expected to remain healthy, though it may be dampened by external risk factors.

Qatar's CBQ posts big drop in Q2 net profit

The Gulf Arab state's third-largest lender by assets earned a net profit attributable to equity holders of 212.3 million riyals in the three months to June 30, it said in a statement.

ADCB profit up 10% to Dh1.12b in Q2

The second biggest lender by assets in Abu Dhabi reported a net profit of Dh1.126 billion, up 10 per cent in April-June quarter 2016.

NBAD and FGB go full throttle with merger

The proposed merger will create a bank with the financial strength, expertise, and global network that is expected to support the UAE's economic ambitions both locally and globally.

Commercial Bank signs GCC’s first $166mn 3-year Ninja loan facility

Seven financial institutions have participated in the transaction.

Gulf Bank Wins IFM 2016 Awards

Upon winning the awards, César González-Bueno, Chief Executive Officer, Gulf Bank, said, "We are very proud to receive these two prestigious awards

Qatar’s Commercial Bank Gets $166m International Loan

Seven lenders participated in the deal, with Mizuho Bank acting as sole co-ordinator, sole bookrunner and mandated lead arranger.

Slower lending takes toll on Union National Bank

The Group’s balance sheet continues to remain strong, coupled with adequate liquidity and capital buffers as the region continues to adjust to an environment of lower oil prices.

NCB's net income reached SR 5,068 million for first half of 2016, an increase of 2% over first half of last year

Al-Maiman added that the Bank's total assets reach SR 453 billion compared to SR 461 billion at the end of the same period of the previous year.

UAE's Union National Bank Q2 profit slides 17.3 pct, beats estimates

The average forecast of four analysts polled by Reuters was for a quarterly profit of 420 million dirhams.

Commercial Bank of Dubai Q2 profit falls 22 per cent

Bad debt has been plaguing UAE banks since the slide in oil prices that began two years ago.

Tunisia: ABC Bank expands its branch network in Tunisia

This increase is mainly attributable to the development of the portfolio of assets and treasury activities and an increase in fees and commissions.

Oman’s Bank Muscat Q2 net profit edges higher, lifts sector

Q2 net profit 46.7m rials versus 46.5m rials a year ago

QNB Group report net profit of QAR 6.2 billion for H1

QNB Group announced its results for the six months ended 30 June 2016.

Oman's Bank Muscat beats estimates with marginal Q2 net profit rise

Bank Muscat did not disclose a quarterly breakdown of its earnings so Reuters calculated the figure based on previous financial statements.

Qatar investment spending to fuel GDP growth, says QNB

The report also predicts inflation will rise to 3.2 percent in 2016 and 3.4 percent in 2017 in line with global inflation hikes.

NBO offers tap at 23bp NIP

National Bank of Oman has set terms for a $100m tap of its $500m 3.125% 2019s at 200bp over midswaps, which a syndicate official away from the deal said equates to a new issue premium of around 23bp.

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