STOCK Al Hilal Bank
Part of ADCB, it was in February that Al Hilal Bank made the transition to be a full digital bank. The move is paying off. Image Credit: Ahmed Ramzan/Gulf News

Dubai: Abu Dhabi’s Al Hilal Bank has more than 62,000 bank accounts and 137,000 registered users since the conversion to be a fill digital bank in February. The bank in its digital version is an out and out consumer-focussed financial services provider, with the average user time running to 11 minutes on the app per day. Abu Dhabi and Dubai have the biggest share of the customer base, with 48 per cent and 28 per cent.

“Since Al Hilal Bank joined the ADCB Group in 2019, it has continued its transformation, accelerating adoption of cutting-edge digital technology to provide customers with a distinctive proposition, while capitalizing on the scale and capabilities of the broader ADCB Group,” said Ala’a Eraiqat, Chairman of Al Hilal Bank and Group CEO of ADCB.

“The success Al Hilal Bank has witnessed demonstrates the customer demand for ground-breaking digital Sharia-compliant banking products. Al Hilal Bank aims to be the new face of the ADCB Group’s digital financial services, not just for communities in the UAE, but in time, also for other regional markets.”

The app records 6,700 transactions a day, and its services targeted at encouraging children to pick up financial literacy skills also seem to be delivering results.