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.
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.
in an accelerated timeframe of
less than half the initial target
surpassing target and on track
to exceed AED 1 billion in 2021
Our broad and sustained commitment to support our diverse stakeholders during COVID-19
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.
Double the number in 2019
digital subscribers
accounting for 69% of all new-to-bank customers
(up from 91% in 2019) and ProTrade digital transactions reached 60% (up from 48% in 2019)
on Al Hilal Bank digital platform
Growth strategy focused on acceleration of digital transformation
A commitment to best-practice governance has served the Bank well through market cycles and remains critical to its fortitude and growth
Full alignment with the UAE’s Economic Vision