Dubai, UAE – Dubai Investments, the leading investment company listed on the Dubai Financial Market (DFM), acquired additional 7.68 percent equity stake in Monument Bank Limited, a UK Based Digital Bank regulated by the Financial Conduct Authority (UK) and the Prudential Regulation Authority (UK).
This increases the Group’s holding in the Bank from 9.25 to 16.93 percent, although the investment is subject to necessary regulatory approvals. Dubai Investments had made an initial investment in Monument Bank earlier this year.
Khalid Bin Kalban, Vice Chairman and CEO, Dubai Investments, said, “Dubai Investments’ increased stake in Monument Bank, not only reiterates the Group’s confidence in the bank’s potential but also its strategy and vision.”
“This investment also solidifies Dubai Investment’s presence in the dynamic digital banking landscape and aligns with the Group’s vision to foster international collaboration,” Kalban said.
Ian Rand, Monument Bank’s Chief Executive Officer, said, “Dubai Investments increased stake in Monument Bank not only solidifies our financial foundation but also signifies a strong vote of confidence in our unique approach to banking.”
“We are pleased to have successfully completed the Series B funding round. The milestone is another testament of our investors’ continued belief in the Bank’s strategy, as we continue to move forward in our journey and accelerate our path to profitability,” he added.
