Emerging Stronger

We came together as one during this unprecedented year — our people, customers and community united in purpose and resilient in spirit, rising to every challenge, and emerging stronger.

We completed our integration in record time, whilst delivering greater than expected synergies.

Our successful integration with Union National Bank (UNB) and Al Hilal Bank was completed in April 2020, ahead of schedule. Within just 11 months of the legal merger, the final milestone consisting of the IT systems integration and transfer of accounts was delivered with no service disruption to our customers. Meticulous planning and flawless execution of the integration were decisive factors in the upgrades of our 2021 run‑rate synergy target to AED 1 billion. As at the end of 2020, total one-off integration costs stood at AED 545 million (excluding capex), well below the budget of AED 980 million.

 
11 months

Full integration completed

in an accelerated timeframe of
less than half the initial target

AED
917 mn

Captured synergies in 2020,

surpassing target and on track
to exceed AED 1 billion in 2021

Continuous engagement

Our broad and sustained commitment to support our diverse stakeholders during COVID-19

For our employees
For our customers
For our community
For our shareholders

We continued to drive engagement across our digital channels, whilst accelerating our digital transformation.

Our strategic focus on customer-centric digital transformation picked up pace in 2020, catalysed by our promise to provide business and service continuity, despite the logistical challenges related to the pandemic. We introduced new digital solutions to continue to make our products and services more accessible and convenient for our customers. Our investment in technology is streamlining processes and enhancing efficiency across the organisation, positioning the Bank for future growth.

2020 Digital Achievements

 

62

Digital releases

Double the number in 2019

130,000+

New Consumer Banking

digital subscribers

117,000+

Customers onboarded
through the Hayyak app

accounting for 69% of all new-to-bank customers

96%

ProCash digital transactions

(up from 91% in 2019) and ProTrade digital transactions reached 60% (up from 48% in 2019)

74%

Rise in customer registrations

on Al Hilal Bank digital platform

New 5-year strategy

Growth strategy focused on acceleration of digital transformation

Robust governance

A commitment to best-practice governance has served the Bank well through market cycles and remains critical to its fortitude and growth

Sustainable growth

Full alignment with the UAE’s Economic Vision