2019 Annual Report

Our strategy is to reinvigorate retail Islamic banking and attract a new generation of customers for whom ethical and transparent banking is of increasing importance. The addition of Al Hilal Bank to the ADCB Group provides an opportunity to create the leading digital-first Islamic bank in the UAE.

One way we will achieve this is by using advanced and innovative technology to enhance our range of digital channels. This will provide greater levels of accessibility and convenience for our customers. Another way is to continuously monitor and improve our customer service levels to ensure we are delivering an excellent experience at every touchpoint.

BRAND STRENGTH

Al Hilal Bank has a strong brand and a solid reputation across the UAE. We will build on this to establish a larger, digitally-led, retail bank offering a comprehensive suite of Shari’ah-compliant banking products.

While we expect the majority of transactions to be electronic, we remain committed to the personal touch that our experienced branch staff provide for our customers. By supporting the needs of our existing customers and appealing to the next generation, we will continue to grow our reputation and market share significantly.

The Bank has been greatly enhanced as a result of becoming part of the ADCB Group. One of the many benefits is the creation of a highly-capable leadership team. Following the transaction, the Bank’s majority shareholder, Abu Dhabi Investment Council, appointed an experienced new Board, led by Ala’a Eraiqat, Group CEO at ADCB, as Chairman. The Board will focus on driving the next stage of Al Hilal Bank’s growth through a culture of strong risk management and disciplined corporate governance.

Abdul Shakeel was appointed as CEO to spearhead the Bank’s strategy for growth and to lead the digital journey. He brings more than 25 years of banking industry experience, with deep expertise in retail banking, digital innovation and risk management. For the past 15 years he held a variety of senior positions at ADCB, most recently as Head of Retail Banking. In that capacity he managed a team of 2,000 professionals and launched many of ADCB’s award-winning consumer products and digital banking channels.

DRIVING EFFICIENCY

The majority of the Wholesale and SME portfolios were successfully migrated to ADCB within a few months of the acquisition, enabling Al Hilal Bank to focus fully on retail banking.

To capitalise on synergies, we integrated ADCB and Al Hilal Bank’s treasury functions, including centralising liquidity and funding. We merged our back office functions to ensure best-practice, higher efficiency and better customer service levels. We also harmonised credit policies and enhanced our risk profile to provide greater resilience.

Elsewhere, we worked hard to develop our organisational culture and values to more closely align with those of ADCB.

As a result Al Hilal Bank is now a leaner, more efficient, organisation with a focus on promoting local talent — 48% of all employees are UAE Nationals, the highest in the UAE banking industry.

DIGITAL PACE

One digital milestone this year was the launch of Ahlan, a state-of-the art onboarding mobile app, that allows customers to open a new account in just a few minutes. Modelled on the onboarding app introduced to customers at ADCB, we designed, created and delivered the application to customers in just two months. Feedback was overwhelmingly positive, demonstrating a healthy appetite for greater digital functionality.

We upgraded our mobile app and internet banking platform to add capability which improved navigation, and enhanced user experience. For added security, we introduced secure fingerprint and facial recognition technology. Customers can register for the app using their card number, choose to bank in English or Arabic and carry out transactions with convenient features such as the ability to add beneficiaries to their account using just an IBAN number.

At the same time, we optimised our channels to attract new customers and to provide easier, faster access to the Bank. Al Hilal Bank customers now have access to 13 branches and an expanded network of ATMs across the UAE. With the fee-free use of ADCB’s teller machines, customers now have the choice of over 500 ATMs to make cash withdrawals and balance enquiries.

Looking ahead, we will make greater use of data analytics and behavioural economics to help drive our digital strategy to ensure our technology meets the needs of our digital-savvy Islamic retail customers.