Rakbank's CEO: No Plans Or Deals For M&As

The transcript discusses the growth of a bank across corporate, business, and personal segments in the UAE, highlighting the impact of a buoyant economy. It covers support for SMEs, market shifts from trade to domestic activities, and regulatory compliance regarding Russian capital. The real estate market is analyzed, noting rising housing prices and stable mortgage support. The bank's independence and strategies for managing labor costs amid inflation are also discussed.

What are the three segments in which the bank has experienced growth?

• Corporate, Business, and Personal Banking

• Retail, Investment, and Corporate Banking

• Personal, Retail, and Investment Banking

• Business, Retail, and Corporate Banking

What percentage of new SME customers were startups or companies less than a year old?

• 50%

• 70%

• 40%

• 60%

How does the bank ensure compliance when accepting customers from Russia?

• By being more lenient than other banks

• By having no specific policy

• By being more stringent than other banks

• By following global and UAE Central Bank regulations

What is the expected impact of new stock on housing prices post-pandemic?

• A stabilization of prices

• A massive correction

• A further increase in prices

• No impact on prices

What is the bank's current stance on mergers and acquisitions?

• Not interested in any mergers

• Open to discussions but no current plans

• Actively seeking mergers

• Already in talks with other banks

How has the bank managed to keep cost growth below inflation?

• By increasing operational expenses

• By cutting down on investments

• Through digitization and process simplification

• By reducing employee salaries

What has been the impact of housing-related inflation on the bank's operations?

• It has led to increased operational costs

• It has been managed through efficiencies and technology

• It has forced the bank to reduce staff

• It has had no impact