Dubai, September 24, 2014: Emirates NBD, one of the lead receiving banks for the Emaar Malls IPO, has announced that over 50 per cent of its retail subscriptions have been via the banks’ ATM and online banking channels. Emirates NBD has received so far 5,600 applications for shares in the Emaar Malls IPO from individual investors in total, of which 2,900 have been via the Bank’s pioneering digital conduits.
Emirates NBD is the first bank in the UAE to enable individual investors to subscribe to an IPO using ATM and digital channels, via the newly launched eIPO platform.
Abdulla Qassem, Group Chief Operating Officer – Emirates NBD commented: “Technological innovation and adoption is a key focus at Emirates NBD, and we are delighted with the customer response to our latest offering. More than half of the bank’s customers subscribing to the Emaar Malls IPO have opted to take advantage of our convenient ATM and online subscription channels. Last but not the least; we are extremely delighted that the facilitation of the electronic platform was well received by our thousands of customers, who took advantage of the highly user-friendly and simple process of digital subscription.”
In the recent past, Emirates NBD has made significant investments in new technologies and launched an array of innovative online-only products, resulting in significant adoption of the bank’s digital banking services.
Emirates NBD’s eIPO platform was available for customers from the launch date of the Emaar Malls IPO on September 14 until the subscription closing date on September 24, 2014. The bank’s customers were able to subscribe to the IPO seamlessly using their debit card, and National Investor Number (NIN). Customers were also able to apply for family members and friends, thus avoiding delays and queuing in branches.