Skip to content Skip to Search
Skip navigation

Dubai Investments buys 9% stake in British digital bank

By Pramod Kumar
Dubai Investments CEO says the acquisition provides an opportunity to foray into the digital banking space

Dubai Investments has acquired a nine percent equity stake in Monument Bank Limited, a UK-based digital bank, the Dubai Financial Market-listed said in a statement.

Monument Bank is focused on the “mass affluent” segment in the UK and aims to provide core banking and other related services.

Dubai Investments’ vice chairman and CEO Khalid bin Kalban said that the acquisition provides a unique opportunity to foray into the digital banking space in one of the most advanced and regulated markets.

Monument Bank CEO Ian Rand noted that the Dubai Investments deal will accelerate the scale-up of their UK business, launch innovative solutions, and grow their market share.

Mintoo Bhandari, head of institutional relationships and founder of Monument Bank, added: “We believe that our partners at Dubai Investments can help us advance our strategic plans by leveraging our technological capabilities to extend our operations and spheres of influence in other markets around the world.”

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]