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

UGB Announces Nine Months net Profit

Net loss attributable to the shareholders of the parent for the quarter stood at US$ 7.4 million compared to a loss of $ 11.5 million in 3Q12

BMI shareholders approve Salam bank merger

Bahraini retail and commercial lender BMI Bank said it has won approval from the shareholders for its merger with the kingdom's leading Al Salam Bank Bahrain (

Burgan Bank Group announces first nine months earnings

Operating income surged to KD 187.3 million registering 35% growth

Mikati: Lebanon Banks Still Enjoying Growth

Lebanon’s banking sector still enjoys a level of economic growth despite difficulties spurred by regional crises

Abu Dhabi Islamic Bank Egypt Announces its Third Quarter Financial Results

ADIB posted remarkable net profit of EGP 34.9 million for Q3 and EGP 68.8million for first nine months of 2013

Standard Chartered likely to dispose of retail banking business in Lebanon

Sources familiar with the matter were quoted by media reports as saying that the bidding process for the sale of the lender's retail banking business is likely to start by the end of 2013.

Ajman Bank third quarter net profit drops by 45.6%

Result hit by higher impairment charges and a drop in investment income

First Gulf Bank completes acquisition of Dubai First

This, the bank said in a statement, is in line with FGB’s expansion strategy of developing existing businesses and offering more value to an expanding UAE customer base.

Wells Fargo Celebrates 15 Years of Service in Turkey

Through its local office in Istanbul, Wells Fargo provides trade, payments, deposits, credit, and other financial solutions to financial institution customers across the region.

Doha Bank extends Asia reach with Hong Kong office

The representative office was declared open by Miss Au King-chi, Permanent Secretary for Financial Services and the Treasury (Financial Services), Hong Kong.

UAE banks likely to get 5-year grace period over GRE loans

The rules were suspended after some banks said they could not meet a September 30 deadline to comply with the new caps.

NBAD Eyes Emerging Markets For Growth – CEO

National Bank of Abu Dhabi expects revenue to grow 7-8 per cent in 2013 and plans to expand in cities from east China to west Africa.

Emirates NBD sees double digit growth for its retail banking business

Retail banking revenues in the UAE are growing at about 8 to 10 per cent this year

HSBC Bank Oman Q3 2013 net profit increases by 20.6%

HSBC Bank Oman introduced HSBC Secure Key during the first half of 2013 to provide greater online protection for customers.

BMI Bank posts USD 2.34 million net profit for the first nine months of 2013

Profit represents an increase of 141 % over the same period in 2012 Maintains an excellent capital adequacy ratio at over 17 %

Union National Bank 9-month profit down 1.8 pct

Operating profit for nine month period ended 30 September 2013 increased by 1.5% over prior period to reach AED 1,836 million

UAE’s Retail Banking Business Set Enter a Boom Period

Retail banking business in the UAE is entering a boom phase as the economy is doing well and consumption is back on track

Kuwait's Gulf Bank posts 2.4% rise in Q3 net profit

Kuwait's Gulf Bank posted a 2.4 percent rise in net profit in the third quarter

NBO set to open branch in Dubai

Dubai held great promise as it was a huge trading partner and the hub of business activity.

Mashreq posts 34% increase in Net Profit

The bank's Total Operating Income for the period grew to AED3.5 billion, an increase of 19.2% compared to a year earlier, driven by both Net Interest Income and Net fee and commission income.