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    ITHMR   BH000A0J2499

ITHMAAR HOLDING B.S.C.

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Ithmaar B S C : Bank opens new digitally-focused branch in Arad

11/21/2021 | 08:24am EST

MANAMA, BAHRAIN - 21 November 2021 - Ithmaar Bank, a Bahrain-based Islamic retail bank that owns and operates the largest Islamic retail banking network in the Kingdom, today (ed note: 21/11/21) inaugurated a new branch in Arad.

It is the second full-service, digitally-focused branch to be inaugurated by Ithmaar Bank in the past two months, and underscores the Bank's ongoing commitment to enhancing its Islamic banking offering and growing closer to its customers. The new branches - the new Main Branch in Seef Mall and the new Arad Branch - both feature sophisticated, cutting-edge technology, including sophisticated self-service banking machines, next-generation Automated Teller Machines (ATM) and other exciting new branch automation and customer service solutions.

The new Ithmaar Bank Arad branch, located next to the Muharraq Club Fuel Station, effectively moves the Bank's previous branch nearby to a better, more accessible location with ample parking for customers.

The new Arad Branch was inaugurated by Ithmaar Bank Chief Executive Officer, Ahmed Abdul Rahim, in the presence of Deputy Chief Executive Officer, Abdul Hakeem Al Mutawa, General Manager - Retail Banking Group, Mohammed Janahi, and General Manager - Information Technology and Banking Operations, Yusuf Alkhan, in addition to a number of Bank officials and branch customers.
The new Arad branch is the latest demonstration of Ithmaar Bank's digital transformation, and includes the provision of next-generation ATMs and other new digital solutions - particularly the Self-Service Banking machine which automates various services, including instant printing of account statements and certificates, updating customer information, and instant printing of card statements. In December, the machine will also offer additional services, including instantly issuing Debit and eCards.

"The new Arad branch is now the second in our retail banking network to feature the Bank's unique, highly sophisticated self-service banking machine," said Abdul Rahim. "This highlights our commitment to developing and implementing cutting-edge technology to further enhance our customers' banking experience," he said.

In October, Ithmaar Bank inaugurated it new Main Branch in Seef Mall, effectively moving its Main Branch form Seef Tower to Seef Mall nearby. The new Main Branch, located near Gate No. 10, was designed with a fresh, new look and feel and advanced technologies to provide an enhanced banking experience for customers. In June last year, Ithmaar Bank announced the opening of a new branch in Hamad Town, where the Hamala branch was moved to a new, better and more accessible location with more parking spaces. Ithmaar Bank's branch network currently consists of 13 branches and 38 ATMs located in strategic locations throughout the Kingdom of Bahrain.

Disclaimer

Ithmaar Holding BSC published this content on 21 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 November 2021 13:23:01 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2020 312 M - -
Net income 2020 -41,7 M - -
Net cash 2020 32,0 M - -
P/E ratio 2020 -4,88x
Yield 2020 -
Capitalization 192 M 192 M -
EV / Sales 2019 0,04x
EV / Sales 2020 0,55x
Nbr of Employees 267
Free-Float 50,3%
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Ahmed Abdulrahim Chief Executive Officer
Amr Mohammed Al-Faisal Al-Saud Chairman
Balu Tiruvilandur Ramamurthy Head-Compliance & Anti Money Laundering
Abdulellah Ebrahim Mohamed Al-Qassimi Independent Non-Executive Director
Zamil Abdullah Al-Zamil Independent Non-Executive Director
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