Latest news with #ilaBank
Al Bawaba
25-06-2025
- Business
- Al Bawaba
Bank ABC named ‘Best Digital Bank' and ‘Best Bank for Sustainable Finance' in Bahrain at Euromoney Awards for Excellence 2025
Bank ABC has been recognised as the 'Best Digital Bank' and 'Best Bank for Sustainable Finance' in Bahrain at the Euromoney Awards for Excellence 2025, held in Dubai on 20 May. The accolades highlight the Bank's transformative approach to corporate banking and its growing leadership in the sustainable finance landscape. A delegation from Bank ABC received the awards at the high-profile ceremony, which also saw wins for its subsidiaries – Bank ABC Islamic and ila Bank, the Group's digital mobile-only bank, reinforcing the Group's collective innovation and impact. With over four decades of experience across frontier and emerging markets, Bank ABC continues to redefine financial services through an ambitious digital transformation and sustainability-led growth strategy. These double wins stand as a testament to the Bank's commitment to delivering cutting-edge financial solutions while accelerating the transition to sustainable operations across its global network. Commenting on the recognition, Sael Al Waary, Group CEO of Bank ABC, said: 'We are honoured to be recognised by Euromoney as Bahrain's Best Digital Bank and Best Bank for Sustainable Finance. These awards reaffirm our position as a leader in innovation and underscore our responsibility to shape a more sustainable future. As we empower our clients with innovative digital capabilities, we remain equally committed to enabling their transition to future-proof, purpose-driven businesses. I sincerely thank Euromoney for this recognition and my colleagues across the Bank ABC Group for their dedication to building MENA's international bank of the future.' Bank ABC's ongoing digital evolution has redefined the benchmark for wholesale banking in the region. Leveraging deep market insight and tailored financial solutions, the Bank supports clients across strategic sectors including logistics, petrochemicals, and technology, among other sectors. With innovation at the core of its strategy, Bank ABC has made significant strides in digital banking, AI-driven automation, and blockchain integration. The Bank's Wholesale Banking Corporate Portal delivers a reimagined corporate banking experience, offering clients a personalised, AI-powered interface that provides a seamless access to products and services – alongside actionable insights for smarter financial decisions. Ben Naylor, Global Head of Research at Euromoney commented, 'Bank ABC's transformative digital strategy and innovative solutions were especially impressive. Its launch of an AI-powered corporate portal and enhanced trade finance platform, added significant efficiencies for clients. It also enhanced its cross-border payments and FX services, and notably upgraded its AI assistant.' On the sustainable finance front, Bank ABC has demonstrated a clear commitment to embedding Environmental, Social and Governance principles across its value chain. The Bank's Sustainability Strategy is driving meaningful progress towards an inclusive, low-carbon economy, while supporting clients in their transition to more responsible business models. Further highlighting the Bank's leadership, Ben Naylor added, 'A comprehensive ESG strategy, executive-driven governance, and impactful initiatives like green sukuk issuance and renewable energy financing saw Bank ABC recognised as Bahrain's leader in sustainable finance. Its workforce training, long-term environmental goals, and commitment to clean energy underscored its commitment to the sector.' The Euromoney Awards for Excellence is one of the industry's most authoritative and respected awards programmes, recognising world-class financial institutions that demonstrate innovation, leadership and meaningful impact in banking.
Yahoo
28-05-2025
- Business
- Yahoo
Mastercard (NYSE:MA) Partners With ila Bank For Enhanced Consumer Products And Loyalty Offerings
Mastercard experienced a price increase of 8% over the last month, coinciding with a period of notable activity. A key development was the partnership with ila Bank, aiming to enhance product offerings with affluent and travel benefits, which may have supported investor sentiment. The firm also collaborated with the Bankees Foundation on crypto-rechargeable prepaid cards. Additionally, Mastercard's first-quarter earnings showed growth, with revenues up to $7.25 billion. These positive company-specific events occurred alongside a broader market recovery, with the S&P 500 up slightly for 2025, contributing to the overall optimistic trend for Mastercard's shares. We've identified 1 weakness for Mastercard that you should be aware of. The end of cancer? These 23 emerging AI stocks are developing tech that will allow early identification of life changing diseases like cancer and Alzheimer's. The recent partnership announcements and growth in Mastercard's earnings and revenues align well with the company's strategic focus on expanding digital commerce solutions. The collaboration with ila Bank and crypto-related initiatives are likely to further enhance Mastercard's product offerings, potentially boosting revenue streams. Over the longer term, Mastercard shares have demonstrated resilience, with a total return of 94.65% over the past five years. This return, which includes both share price appreciation and dividends, indicates strong performance relative to the market trends of that period. In contrast, over the past year, Mastercard has outperformed the US Diversified Financial industry, as evidenced by a more robust performance compared to the industry's 23.4% increase. The company's recent earnings report, highlighting a rise in revenue to $29.07 billion, suggests an optimistic outlook for future revenue and earnings growth, driven by innovation in payment technologies. Analysts forecast annual revenue growth of 12.1%, which supports these positive developments. Despite the encouraging short-term share price increase and promising partnerships, the current share price offers a modest gap of approximately 7.38% below the consensus analyst price target of $614.79. This position suggests that while the market perceives some room for growth, the current share price closely aligns with analysts' expectations. Investors should consider these factors alongside potential risks, such as geopolitical tensions and regulatory challenges, which could impact long-term revenue and earnings forecasts. Understand Mastercard's earnings outlook by examining our growth report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:MA. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Mid East Info
28-05-2025
- Business
- Mid East Info
ila Bank partners with Mastercard to launch innovative solutions and expand into new markets - Middle East Business News and Information
MANAMA, Bahrain: ila Bank, powered by Bank ABC, has partnered with Mastercard to enhance the bank's proposition across consumer products, launching new affluent, travel products and loyalty offerings. ila Bank will leverage Mastercard's expertise to introduce loyalty program that supports cardholders' lifestyle, providing added value across a wide range of areas, including dining, luxury shopping, travel and priceless experiences. The new product line will also leverage enhanced fraud solutions and privacy protection to secure every transaction. Mohamed Almaraj, ila Bank CEO, said, 'ila has always been about the customer. We are proud to have maintained our commitment to offering customer-centric solutions and experiences in a growingly cashless economy, and this strategic agreement furthers the ila promise of 'banking that reflects you'. Renewing our engagement with Mastercard will strengthen our standing as the frontrunner in the region's digital payments landscape by offering the most seamless, secure and future-focused product portfolio that provides unparalleled premium benefits.' Adam Jones, Mastercard's Division President for West Arabia, said, 'In line with our shared commitment to driving innovation across the digital ecosystem, our long-standing relationship with ila Bank focuses on delivering customer-first solutions that help ensure a secure and rewarding banking experience. We will continue to provide our partners with enhanced product offering, supporting regional expansion.' Mastercard has been a trusted partner of ila Bank from the outset, supporting the bank's strategy Together, they have introduced several innovative propositions to the market, including the multi-currency debit program, the Pay with Rewards loyalty program and the Mastercard airline co-brand with Gulf Air in Bahrain. Since its establishment in 2019, ila Bank has been dedicated to addressing the dynamic needs and lifestyles of its customers with bespoke banking solutions. The digital, mobile-only bank, well-received both domestically and regionally, currently offers a range of card products, including debit, credit and prepaid cards, that provide unparalleled bonus advantages and a personalized loyalty reward system. Other innovative products accessible through the award-winning ila app include smart digital saving tools, like Hassala and Jamiya, as well as Al Kanz, ila's prize account that awards substantial cash prizes to lucky customers throughout the year.
Yahoo
27-05-2025
- Business
- Yahoo
ila Bank partners with Mastercard to launch innovative solutions and expand into new markets
Mastercard & ila Bank Partnership MANAMA, Bahrain, May 27, 2025 (GLOBE NEWSWIRE) -- ila Bank, powered by Bank ABC, has partnered with Mastercard to enhance the bank's proposition across consumer products, launching new affluent, travel products and loyalty offerings. ila Bank will leverage Mastercard's expertise to introduce loyalty program that supports cardholders' lifestyle, providing added value across a wide range of areas, including dining, luxury shopping, travel and priceless experiences. The new product line will also leverage enhanced fraud solutions and privacy protection to secure every transaction. Mohamed Almaraj, ila Bank CEO, said, 'ila has always been about the customer. We are proud to have maintained our commitment to offering customer-centric solutions and experiences in a growingly cashless economy, and this strategic agreement furthers the ila promise of 'banking that reflects you'. Renewing our engagement with Mastercard will strengthen our standing as the frontrunner in the region's digital payments landscape by offering the most seamless, secure and future-focused product portfolio that provides unparalleled premium benefits.' Adam Jones, Mastercard's Division President for West Arabia, said, 'In line with our shared commitment to driving innovation across the digital ecosystem, our long-standing relationship with ila Bank focuses on delivering customer-first solutions that help ensure a secure and rewarding banking experience. We will continue to provide our partners with enhanced product offering, supporting regional expansion.' Mastercard has been a trusted partner of ila Bank from the outset, supporting the bank's strategy Together, they have introduced several innovative propositions to the market, including the multi-currency debit program, the Pay with Rewards loyalty program and the Mastercard airline co-brand with Gulf Air in Bahrain. Since its establishment in 2019, ila Bank has been dedicated to addressing the dynamic needs and lifestyles of its customers with bespoke banking solutions. The digital, mobile-only bank, well-received both domestically and regionally, currently offers a range of card products, including debit, credit and prepaid cards, that provide unparalleled bonus advantages and a personalized loyalty reward system. Other innovative products accessible through the award-winning ila app include smart digital saving tools, like Hassala and Jamiya, as well as Al Kanz, ila's prize account that awards substantial cash prizes to lucky customers throughout the year. Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential. A photo accompanying this announcement is available at CONTACT: Maher Albash M +971 50 188 2508 malbash@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Saraha News
26-05-2025
- Business
- Saraha News
ila Bank wins ‘Best Consumer Digital Bank in Bahrain' title at Euromoney Awards for Excellence 2025
ila Bank wins 'Best Consumer Digital Bank in Bahrain' title at Euromoney Awards for Excellence 2025 Bahrain's leading digital mobile-only bank wins the prestigious award for its revolutionary business model that has changed the face of traditional retail banking. Manama, Bahrain: ila Bank, powered by Bank ABC, has been declared Best Consumer Digital Bank in Bahrain by Euromoney Awards for Excellence 2025. The award celebrates ila's phenomenal success in reimagining retail banking, placing consumers at the core of its innovative digital mobile-only proposition. The award was presented on 20 May in Dubai at a ceremony attended by the industry's leading financial institutions and experts. Commenting on the prestigious award, Mohammed Al Maraj, Group Head of Retail Banking at Bank ABC and ila Bank CEO, said, 'It is an honour to win the title of Best Consumer Digital Bank in Bahrain by a long-established awards programme like Euromoney. This recognition reinforces our commitment to continue delivering superior digital banking experiences, while promoting further financial inclusion in Bahrain and the wider region. We take great pride in providing fast, convenient, and personalised consumer banking solutions that greatly enrich our customers' lifestyles. I thank Euromoney for this esteemed award, our customers for their faith in our capabilities, and the Board and leadership at Bank ABC for their unwavering guidance and support. I remain grateful to the ila team for their relentless efforts in making ila a household name that is renowned for 'banking that reflects you'.' ila's unique banking proposition has made a positive impact since its launch in 2019. By offering intuitive, seamless digital banking products and services, ila has successfully eliminated customer pain points in managing and taking control of their finances. The Bank's customer-centric approach has enabled it to drive exceptional growth through personalised product offerings, communications and never-before benefits and privileges that drive customer trust and engagement. ila's continued success is reflected in its year-on-year growth across key metrics. ila Bank has been expanding its footprint across the region to bring its digital-first banking proposition to underserved markets, thereby spurring financial inclusion and redefining consumer banking experiences in MENA. Further expansion plans are well underway. By leveraging innovative technology, data analytics and simply listening to what customers require, ila Bank has fundamentally reshaped conventional banking as well as Islamic Banking through alburaq. Its innovative proposition comprises rapid onboarding, multi-currency accounts, easy payments and transfers, convenient savings tools like Al Kanz, Hassala and Jamiyah, Government Securities investment solution amongst an extensive product suite. The Best Digital Bank in Bahrain award is one of four titles swept by Bank ABC Group at the Euromoney Awards for Excellence 2025. The award platform recognises world-class institutions that have demonstrated innovation, leadership and positive impact in their banking propositions in the capacity of a leading
