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

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

Jordan's Arab Bank net profit rises 43 pct in 2013

Jordan's largest lender, Arab Bank Group, posted a 43 percent rise in net profit to $501.9 million last year on higher revenues

Abu Dhabi to host Global Financial Markets Forum

The National Bank of Abu Dhabi is organising the sixth Global Financial Markets Forum in March

National Bank Of Kuwait Q4 Net Profit Drops 48%

BK reported a full-year profit for 2013 at $844 million, down from the $1.08 billion recorded for 2012.

HSBC Sells Banking Business In Jordan

The disposal is expected to complete inside the first-half of 2014 and is in line with the bank's strategy of selling off its non-core assets in order to make HSBC easier to manage and control.

Qatar's Barwa RE selling Barwa Bank stake in latest bailout move

Qatar's Barwa Real Estate said on Monday it had agreed to sell its 37.34 percent stake in unlisted Barwa Bank for 2.39 billion riyals as part of a wider deal to help the property developer cope with its debt burden.

Bank Muscat net profit surge by 9.3 per cent in 2013

Net loans and Islamic financing increased by 9.7 per cent to 6,143 million rials

Saudi British Bank Q4 Net Profit Jumps 20%

Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later.

Four banks vie for Standard Chartered assets

Four Lebanese banks are vying to acquire the license and assets of Standard Chartered bank in Lebanon with strong indications that the winner would be determined in less than two weeks, bankers said Thursday.

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