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

Doha Bank eyes wholly-owned subsidiary for India operations

We will not rule out if there is a bigger opportunity

Bank Alfalah earns Rs 6.8b gross profit

Bank Alfalah has reported earnings per share of Rs 3.47, for the year ended December 31, 2013, improving from Rs 3.38 per share reported for the year 2012.

National Bank of Fujairah recognised as “Best Trade Finance Bank” at Trade & Export Excellence Awards 2014

National Bank of Fujairah announced that it has won the “Best Trade Finance Bank” award at the Trade & Export Excellence Awards 2014.

Saudi Arabia to Sell stake in the country’s largest lender

The Saudi government’s decision to sell part of its stake in the country’s largest lender in an initial public offering is expected to result in one of the Middle East’s biggest share sales.

Ithmaar Bank reports loss after provisions, but core business continues to grow

Bahrain-based Ithmaar Bank reported a net loss of BHD 29.9 million in 2013, compared to a net loss of BHD 10.1 million in 2012.

Bank “Bahrain and Kuwait” will open branches in the Kurdistan Region of Iraq

The chief executive of the bank Abdul karim Bucheery, in a statement seen by “Twilight News”, that the expansion in the Kurdistan Region of Iraq will be the next step to the bank, if there is a market study that led to positive results.

Bank of Bahrain & Kuwait lays out India plans

Bank of Bahrain and Kuwait is planning to scale up its presence in India by opening a branch in New Delhi, its fourth in the country.

First Gulf Bank expects to continue double-digit growth

First Gulf Bank, Abu Dhabi’s most profitable lender, said it expects to continue reporting double-digit growth amid a growth spurt in the UAE economy, which grew more than 4 per cent last year.

HSBC extends global retreat with $176 million sale of Kazakh bank

HSBC has sold its bank in Kazakhstan to the country's second biggest lender, Halyk Bank HSBK.KZ, for $176 million in cash, continuing a retreat from countries that are unprofitable or where it lacks scale.

Luxembourg pension fund adds to Israel boycott woes

Luxembourg's general pension fund is boycotting five Israeli banks associated with illegal Jewish settlements in the West Bank.

OAB puts IPO plan on hold

Muscat The initial public offering plan of Oman Arab Bank has been put on hold.

BG Foreign Minister wants Qatari bank in Bulgaria

A Qatari bank to appear in Bulgaria – this is the newest proposal of Bulgaria's Minister of Foreign Affairs Christian Vigenin to the Prime Minister of the Arabic country

ABC Islamic Bank net profit up 48pc

ABC Islamic Bank, a subsidiary of Bahrain-based Arab Banking Corporation, has posted a net profit of $12.2 million for 2013, up 48 per cent compared to the previous year.

Bahrain's Al Baraka posts 23% rise in Q4 net profit

Bahrain's Al Baraka Banking Group reported a 23 percent increase in fourth-quarter net profit on Sunday

Customers warned of online swindlers

Thousands of messages have been sent to warn bank customers in the Kingdom of swindlers trying to gain access to their online bank accounts.

Standard Chartered set to finalise sale of its retail bank in Lebanon

UK-based Standard Chartered is set to take a final decision on plans to divest its retail banking unit in Lebanon, following submission of the final bids by the remaining two bidders.

AUB net profit soars to $579m

Bahrain-based Ahli United Bank has reported a a record net profit of $579.4 million for 2013, up 72.6 per cent when compared to $335.7 million the year before.

Arab Banking Corporation gains rise 17pc to $239m

Arab Banking Corporation yesterday recorded consolidated group net profit of $239 million for last year, a 17 per cent increase when compared with $205m for 2012.

Citi Bahrain marks milestone

Citi Bahrain celebrated 45 years of presence and 25 years of consumer banking operations in the kingdom.

The Saudi Investment Bank "SAIB" develops WOOW

WOOW is based on strong customer feedback and demand for a world-class rewards program that goes far beyond existing standard credit card and cash-back programs in GCC.

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