Month: April 2019

In its efforts to ensure that the clients are served with the latest banking services, Ahli United Bank (AUB) announced the launch of their Artificial Intelligence (AI) supported Chatbot service via WhatsApp for Businesses.

Being the first bank in Bahrain to integrate its system with an AI supported chatting service via WhatsApp, AUB’s current clients and prospective clients will be able to complete many of their banking inquiries through the chatting service. Banking inquiry topics include MyHassad program prize winner list, information about Current Accounts, Savings Accounts, Personal Loans, Car Loans, Money Transfers, Branches and many other banking services.

Designed to provide the same ease as speaking with friends online; this service is considered friendly, and secure with 24/7 availability. Anyone can access the chatting service by simply adding the bank’s number 34221999 to their Phone’s Contact List and then opening a chat with the saved contact, just like chatting with a friend on WhatsApp.

On the launch event, Mr. Samih Abutaleb, Group Head Digital Transformation for AUB commented, “Following the successful launch of the first phase for the chat solution via WhatsApp Business solution, we look forward to the upgrade and growth of the WhatsApp based chatting services in order to deliver a consolidated and unified digital client experience. This new service offering will complement our existing digital channels in a secure and convenient way. Our integration with the WhatsApp Business solution builds on our commitment to further enhancing and facilitating AUB’s banking services. WhatsApp, being widely-used, is a simple, reliable and private way to converse with anyone in the world, which offers AUB clients with further simplicity and comfort.”

Mr. Samih Abutaleb, further stated that, “On the other hand, with the continued execution of our digital transformation strategy via the usage of Artificial Intelligence technologies in all aspects of the group, this service demonstrates Ahli United Bank’s leadership in innovation in banking services and our focus on reaching our growing customer base.”

He concluded his statement by saying “we are excited about offering our WhatsApp chat services and we are working on rapidly expanding the service to further enable continuous, and interactive conversations with our clients, as all messages sent via a WhatsApp business account are secure and encrypted in a safe and secure manner.”

Ahli United Bank (AUB) has recently announced the winner of its prestigious award for the award winning, Rabab Mansour, a Bahraini housewife.

“I never expected to be one of those lucky winners in the draws as I’ve been an AUB client since long years and held those certificate since 2011 when I purchased it from Madinat Hamad branch where I have been living with my children and I have been reluctant to withdraw the cash,” said Mrs. Rabab. What prevented me from doing so, was my feeling that luck would definitely follow me one day”.

“When I was contacted to get informed about winning the award, I couldn’t believe myself when the branch manager was informing me about winning the quarterly grand prize of US$500K, as I couldn’t hold my breath especially that my kids were always pushing me to return that certificate and get my cash back”.

“I am planning to buy a house for my family,” Rabab said. “It has always been a dream for me for years. Thank God, this dream has been achieved recently.”

It is worth noting that Mrs. Rabab won one of the monthly prizes of BD1, 000 last year. She is therefore grateful to AUB for winning two times so far.

MyHassad – the biggest award prizes program in the kingdom of Bahrain – has successfully registered the largest number of winners and the largest number of awards compared to any other savings program in the Kingdom. Since its inception, MyHassad has offered cash prizes exceeding BD67 million Bahrain for more than 16 thousand winners from its customers.

AUB recently announced the launch of the new version of the popular savings program, “MyHassad”, which is being launched again this year with a series of prizes, the largest in Bahrain with a total of more than US$ 8 million, which will be topped by the “MyHassad Millionaire” award, which will award one million US dollars to one winner in the draw to be held later this year for this prestigious Grand Prize.

In addition to this grand annual award, the bank also disclosed the details of the new periodic draws on several of the weekly, monthly and quarterly awards and special Eid awards that were created to provide the Bank’s customers in Bahrain with a more lucrative season for cash prizes and opportunities to win more and more than ever before.

The new season will start with a weekly draw of a US$25,000 allocated for customers in Bahrain and a further BD20,000 in a weekly draw to provide more win-win opportunities for the widest segment of customers throughout the year.

This year’s “MyHassad ” program also targeted its customers with a monthly prize of BD100,000 (US$265,000), which increases in value every three months to the US$500,000 Grand Prize, as these prizes were designed to grant them with financial freedom to realize their dreams and ensure their financial stability.

In order to qualify for the draw, each balance of BD50 entitles the holder to one chance to participate and win in the draws. The higher the amounts you save and the longer period you maintain them, the greater the chances of winning the prizes.

Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 192.9 million for the quarter ended 31 March 2019. The net profit reflected an increase of 10.4% in Q1/2019 as compared to the net profit of US$ 174.7 million achieved in Q1/2018. The Q1/2019 net profit also represents a 13.9% improvement over the Q4/2018 trailing quarter reported profit of US$ 169.3 million. The Basic Earnings per Share in Q1/2019 were US 2.2 cents (+10.0%), compared to US 2.0 cents in Q1/2018.

Operating income grew by 6.6% to US$ 311.9 million (Q1/2018: US$ 292.6 million) mainly driven by an increase in net interest income by US$ 13.9 million (+6.1%) to US$ 243.3 million (Q1/2018: US$ 229.3 million) attributable to growth in loans and investments and to effective interest rate risk management. Net operating income increased from US$ 279.4 million in Q1/2018 to US$ 298.4 million in Q1/2019 (+6.8%).

Operating results continued to be supported by operational efficiencies resulting in an improved cost to income ratio of 25.6% (Q1/2018: 25.9%).

Despite challenging operating conditions, solid asset quality levels were sustained with a non-performing loans ratio of 1.8% (31 December 2018: 1.9%) while specific provision coverage ratio increased to 85.6% (31 December 2018: 85.5%). The total provision coverage ratio, excluding the available significant asset collaterals, improved to 222.7% as at 31 March 2019 (31 December 2018: 214.7%).

The Group’s total assets at 31 March 2019 increased by 4.2% to US$ 37.0 billion (31 December 2018: US$ 35.5 billion). Return on Average Assets was sustained at 2.3% for Q1/2019 (Q1/2018: 2.3%). The Group’s equity attributable to owners at 31 March 2019 stood at US$ 3.7 billion (31 December 2018: US$ 3.9 billion) post deduction of 2018 year end appropriations totalling US$ 399.8 million. The Group’s Return on Average Equity (ROAE) for Q1/2019, increased to 18.7%, compared to 18.2% achieved in Q1/2018.

Mr. Meshal Al-Othman, AUB Chairman, commented: “Our continued growth in Q1/2019 demonstrates AUB’s resilience and ability to deliver sustainable core earnings on a consistent basis under its diversified well managed business model. AUB’s strategic investments across multiple markets, robust risk management, intelligent cost control measures and ongoing focus on the sourcing of cross border business flows has helped achieve its net profit growth for Q1/2019, while maintaining solid asset quality parameters and tight cost discipline. ”