Singapore’s Portal launches fund targeted at APac HNWIs
Portal Digital Fund operates on the basis of a fund-of-funds structure and aims to have $100 mn in funds in the future
Sharjah Islamic Bank reports 8.8% increase in profits in Q3 2019
The bank’s profits for the quarter reached Dh124.9 mn as a result of increase in total income and decrease in general expenses
Goldman ramps up Europe wealth management business
The investment bank plans to hire 30 wealth advisers in the next three years in Switzerland, Germany and the UK
European private banks see worst drop in profit since 2008
Reduced investor inflows, rising costs and a weakening financial market led to the profit drop
Kenya has around 356 billionaires, 4th highest in Africa
73% of Kenya’s billionaires are from Nairobi
DBS to grow its global transaction business in Asia
The bank aims to grow its revenue from GTS in Vietnam by 30% and from the Guangdong-Hong Kong-Macau region by 55%
Singapore’s DBS plans to grow Thai wealth business to $8 bn by 2023
The bank has partnered with its subsidiary DBS Vickers Securities (Thailand) to achieve the target
DBS Bank to expand with hybrid human-robo portfolio
Next phase of expansion to be across Indonesia, Hong Kong, Taiwan, China and India
Kamco, Global merger creates largest asset manager in MENA
Kamco shareholders approved the company’s reduction of issued and paid up share capital from KD26.3 mn to KD23.7 mn
Emaar’s 10-year sukuk to generate 3.9% annual return
The sukuk is part of Emaar’s $2 billion trust certificate issuance programme
SMEs in Egypt secures E£146 bn funding from Central Bank of Egypt
Under the Central Bank of Egypt’s initiative, banks will offer soft loans with interest rate of 5% to 7%