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

Senior executive quits UAE's largest lender

National Bank of Abu Dhabi's head of consumer banking has left the lender, a spokesman confirmed on Thursday.

Commercial Bank of Qatar profit drops

Commercial Bank of Qatar , the country's second-largest lender by assets, reported a drop in fourth-quarter net profit on Monday, missing analysts' forecasts as provisioning for bad loans rose substantially.

Warba posts 27 pct gain year on year

Bank achieves progressive results in line with strategic plan: Chairman

UPDATE 1-Qatar's CBQ posts third straight quarterly profit dip on provisions

Commercial Bank of Qatar , the Gulf Arab state's second-largest lender by assets, reported a third successive quarterly decline in net profit on Monday as higher provisions for bad loans once again hurt its earnings.

Reinventing Retail Banking in the Middle East

Fleming Gulf conferences is back with its most anticipated retail banking event that has been running successfully for eight consecutive years.

Kazkommertsbank expects to acquire BTA Bank stake in Q2

Kazkommertsbank expects to finalise the acquisition of a 46.5 percent stake in BTA Bank in the second quarter of this year, Kazkommertsbank Managing Director Sergey Mokroussov told Reuters.

Standard Chartered Middle East in Management Shake-Up

Standard Chartered in the Middle East recently made several changes to its senior leadership amid the bank’s global management shake-up and restructuring of its wholesale and consumer banking unit.

Danish lender to open Abu Dhabi office

The Copenhagen-based firm, which gets 10 per cent of its revenues from the Middle East, is also hoping that the Abu Dhabi office will help it in its efforts to sell its proprietary trading platforms to banks, the chief executive Lars Seier Christensen sai

CBK reports operating profit up by 8.5 percent

Commercial Bank's total assets at the end of December 2013 reached KD 3.9 billion

Khaleeji Commercial Bank reports net loss

The Board of Directors of Khaleeji Commercial Bank announced that the bank would not be paying a dividend for 2013.

Al Salam Bank and BMI Bank conclude business combination

The Chairperson of ASBB , H.H. Shaikha Hessa Bint Khalifa bin Hamad Al Khalifa thanked the Central Bank of Bahrain and shareholders of ASBB for their approval to proceed with the business combination and stated that the legal formalities will be concluded

Profits rise 8% at Egypt's largest bank

National Bank of Egypt made LE3.4 billion (roughly $0.48 billion) in net profits last year, it announced on Sunday

Bank of Sharjah net profit up 27pc

The Bank continued to grow its deposit base

Abu Dhabi's First Gulf Bank Q4 net profit up 19 pct

The lender, majority-owned by Abu Dhabi's ruling family, made a net profit of 1.37 billion dirhams

Iraq to welcome two foreign banks

The country is looking to open its doors for foreign players to operate in the country by modernising infrastructure, increasing services and consolidating the banking sector, which comprises mostly private banks.

Abu Dhabi investor seeks to exit Mongolia bank after governance row

A foreign investor has moved to sever ties with Mongolia's largest private lender, Golomt Bank, because of its concerns over the lender's weak corporate governance standards

HSBC Bank Oman net profits jump

Operating expenses increased by 18.7% to RO57.8m reflecting the running costs of the merged bank.

Dubai's Emirates NBD 4Q Net Profit Rises, But Misses Estimates

Emirates NBD, Dubai's biggest bank, on Monday reported an 8% year-on-year rise in fourth-quarter net profit amid a resurgence in the local economy and a sharp rise in net interest income.

Dubai lender Mashreq's Q4 net profit jumps 48%

Mashreq, Dubai's third-biggest lender by assets, on Monday posted a 48 percent rise in fourth-quarter net profit

ABK posts KWD 35.4m net profit in 2013

This growth in performance translated in higher returns on assets of 1.15%and on equity of 6.70%. Asset quality and provision coverage ratios improved significantly compared to 2012. Capital Adequacy at 26.93%remained strong and robust well above industry