Search Site

Trends banner

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

DIC buys 9% equity in Monument Bank

The CEO of DIC said the acquisition provides an opportunity to enter the digital banking space. (WAM)
  • Monument Bank targets UK’s 'mass affluent' and aims to provide core banking and other related services to clients.
  • Monument Bank’s CEO Ian Rand said that the partnership will help to enhance its UK business and launch innovative solutions

DUBAI, UAE – Dubai Investments PJSC (DIC) acquired a 9% equity stake in Monument Bank Limited, a UK-based digital bank.

Monument Bank targets UK’s ‘mass affluent’ and aims to provide core banking and other related services to clients.

Khalid bin Kalban, Dubai Investments’ Vice Chairman and CEO, said that the acquisition provides an opportunity to enter the digital banking space in one of the most advanced and regulated markets.

Monument Bank’s CEO Ian Rand said that the partnership will help to enhance its UK business and launch innovative solutions.

Also, it is likely to grow its market share and leverage their technology with partners and clients globally, he added.

Mintoo Bhandari, Head of Institutional Relationships and Founder of Monument Bank, said the partnership “can help us advance our strategic plans by leveraging our technological capabilities to extend our operations and spheres of influence” globally.