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

Suez Canal Bank aims to become key player in Egypt’s financial, banking sector: CEO & managing director

The bank’s investment strategy includes launching or investing in financial arms specialising in non-banking financial services

Ant International opens first Middle East office in Saudi

Ant International operates in 200 markets worldwide, serving 90 million merchants with its financial and digital solutions.

KIB Group achieved profit of $75mln for the year 2024

Total operating income increased by 26% over 2023

Foreign asset surplus in Egypt’s banking sector reaches $5.2bln in 2024

Net foreign assets first recorded a surplus in May 2024, reaching $13.46bln after a deficit of $3.47bln at the end of April

Banque du Caire leads $75mln consortium to finance Cheiron Egypt Delta’s gas field development

This financial operation aims to provide up to 45.5% of the total $165mln investment required for the project

Bank Nizwa launches tailored priority banking services, enriching banking experiences for high-net-worth clientele

This segment underscores the bank’s unwavering commitment to delivering superior banking experiences, complemented by an array of exclusive benefits and comprehensive portfolio management solutions

Al Salam Bank Net Profit Grows by 40% to Record Levels

Maintaining its position as the largest Islamic bank in Bahrain

FABMISR net profit surges by 153% reaching EGP26.3bln at the end of 2024

The results demonstrated strong and sustainable growth across all key financial indicators compared to 2023

UAE's biggest bank FAB posts 4% rise in FY 2024 net profit; beats estimate

Net impairment charges rose 27% YoY driven by higher provisioning levels

LuLu Exchange taps Fintech Galaxy for open banking payments in Bahrain

The collaboration enables seamless A2A transfers, and LuLu Exchange has become the region’s first licensed cross-border payments company to offer services using the Open Banking infrastructure.

STC Bank: Success in the making for the Saudi telecoms incumbent?

With its first mover advantage and ability to disrupt the old banking guard in Saudi Arabia, it is a bold move by STC.

Bank of Sharjah acts as joint lead manager & bookrunner in a € 500 mln Bond Issuance for the Government of Sharjah

The issuance received strong investor demand, with the order book reaching an oversubscription of 3.5 times

Burgan Bank launches First Certificates of Deposit Program in Kuwait

CDs are short term debt instruments with maturities up to one year

Emirates NBD Egypt’s net profits jump by 64% In 2024, recording EGP5.3bln

The Bank's profit before income taxes recorded EGP 7.5 bn in 2024

Bank of Jordan supports the Winter Campaign for children in Gaza Strip

In partnership with Tkiyet Um Ali

Saudi consumers are shifting their shopping and spending decisions, says AlixPartners

In 2025, KSA-based consumers are expected to maintain robust spending habits, driven by strategic priorities and a strong focus on essentials and experiences.

Kuwait: NBK Reports Net Profit of KD 600.1 Million for FY2024

In the meantime, shareholders' equity also saw an increase, standing at KD 3.9 billion (USD 12.7 billion), up by 5.9% year-on-year.

Kuwait: NBK and Alshaya Group Launch Exclusive Collaboration with Mastercard

The two new cards enable NBK customers to earn up to 8% in Aura points on their purchases, offering a seamless experience for redeeming rewards through the customer’s Aura application account.

Riyad Bank registers 16% higher profits in 2024

Assets hiked by 16.42%

Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’

The award is based on a comprehensive evaluation of several key factors

Retail Banking