PHOTO
Omani businesswoman and bank chair Sheikha Amal Suhail Bahwan has acquired an equity stake in UK "neo bank", Monument Bank, as it looks to licence its technology in new markets, including Oman.
Bahwan, who is chair of the National Bank of Oman, and vice chair of the Omani conglomerate Suhail Bahwan Group Holding, is to help guide the strategy of the bank, which focuses on the mass- affluent market, in the UK and help advance it in other markets, a statement said.
“I am confident that Monument has the team, technology, and market positioning to capture a meaningful portion of the very large, yet overlooked, mass-affluent banking opportunity,” she said.
Fiona Pollard, chair of Monument, which was incorporated in August 2017 according to UK Companies House records, said: "Monument Bank is uniquely positioned as the only bank, in the UK and perhaps globally, focused solely on the mass-affluent segment.”
Monument has exceeded £2 billion ($2.49 billion) in interest-bearing assets, Pollard said.
Dubai’s Alpen Capital acted as the financial advisor to Monument Bank.
(Writing by Imogen Lillywhite; editing by Brinda Darasha)
