Rakbank CEO: Feeling Confident About 2H Outlook

The transcript discusses the bank's strong performance in the first half of the year, with growth in customer base and asset quality. It addresses the impact of inflation and interest rates, noting that the UAE is less affected compared to other regions. Mortgage growth is expected to slow but remain positive. Demographic shifts show an increase in European and Arab expats. The bank remains confident in its growth strategy despite rising borrowing costs. M&A is not a current focus, with emphasis on SME growth. Collaboration with regulators is highlighted to enhance the financial system's resilience.

What was a key factor in the bank's strong performance in the first half of the year?

• Decrease in customer numbers

• Growth in asset quality

• Increase in inflation rates

• Reduction in SME financing

How has the Central Bank addressed the challenge of rising borrowing costs?

• By implementing new regulations

• By reducing interest rates

• By eliminating stress tests

• By increasing mortgage limits

What demographic shift has been observed in the UAE's workforce?

• Decrease in Arab expats

• Increase in European and Arab expats

• Increase in Asian expats

• Decrease in European expats

What is the bank's outlook for growth in the second half of the year?

• Planning to halt all growth initiatives

• Expecting negative growth

• Forecasting a significant decline

• Anticipating moderate to high growth

What is the bank's strategy regarding mergers and acquisitions?

• Planning to merge with a competitor

• Focusing solely on internal growth

• Maintaining a cautious approach

• Actively seeking new deals

How is the bank positioned in the SME sector?

• As a declining entity

• As a new entrant

• As a leading supporter

• As a minor player

What message does the bank have for the Central Bank to improve financial resiliency?

• Reduce transparency

• Enhance customer protection

• Increase interest rates

• Limit SME support