ila Bank

ila Bank

Mobile-only digital bank for Bahrain/Jordan

Overview

ila Bank is a digital, mobile-first bank serving Bahrain and Jordan. It provides banking services through a smartphone app and online platform, focusing on everyday personal finance needs. The product works via a fully online, mobile-only experience where customers manage accounts, transfers, and other banking tasks directly from their app without visiting a branch. What sets ila Bank apart is its emphasis on being built around the customer’s life and needs, offering a responsive, user-friendly mobile experience tailored to individual requirements in its regional markets. The company’s goal is to redefine how people bank by delivering convenient, fully digital banking that centers on the customer.

About ila Bank

Simplify's Rating
Why ila Bank is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Consumer Software

Financial Services

Company Size

51-200

Company Stage

N/A

Total Funding

N/A

Headquarters

Manama, Bahrain

Founded

2019

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Simplify's Take

What believers are saying

  • Sept. 14, 2026 alburaq launch deepens Bahrain Islamic finance reach and cross-sell.
  • Aug. 26, 2026 Global Finance named ila Bank Best Neobank of the Year in the Middle East.
  • 2026 campaigns and Savings+ plus Al Kanz keep deposits and card usage sticky.

What critics are saying

  • ila Bank depends on Bank ABC; parent capital stress or strategy changes cap investment.
  • Digital-bank rewards campaigns compress margins if acquisition costs outrun interchange and finance yields.
  • Temenos migration, open-banking integration, and app outages can trigger customer defections within months.

What makes ila Bank unique

  • Sept. 2026: ila Bank runs fully digital Shari’a-compliant finance inside one app.
  • 2026 Temenos-on-AWS migration gives ila Bank scalable core banking for faster product launches.
  • Mastercard partnerships power loyalty, travel, fraud protection, and regional expansion.

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Company News

جريدة البلاد
Sep 14th, 2026
ila Bank launches Al Buraq Islamic personal finance with chance to win repayment of finance amount up to BD 20,000

ila Bank launches Al Buraq Islamic personal finance with chance to win repayment of finance amount up to BD 20,000 Monday, 14 September 2026 ila Bank, the leading digital bank in the Kingdom of Bahrain, is launching an Islamic personal finance service compliant with the provisions of Islamic Sharia through an integrated and seamless digital experience via the ila Bank app, with an exceptional opportunity for customers to win full repayment of their finance amount of up to BD 20,000. ila Bank, the leading digital bank in the Kingdom of Bahrain and a subsidiary of Bank ABC, announced the launch of Al Buraq Islamic personal finance, a financing solution compliant with the provisions of Islamic Sharia and fully available through an integrated digital experience via the ila Bank app, meeting customers' aspirations and financial needs. To celebrate this occasion, customers will have an exceptional opportunity to win repayment of the finance amount of up to BD 20,000. Through "Al Buraq" (the Islamic banking brand), ila Bank offers its customers Islamic personal finance based on the commodity murabaha mechanism, through an integrated digital experience that enables customers, via the ila Bank app, to complete all stages of obtaining finance, from application and approval to signing and disbursement of the finance amount, without the need to visit any service center. This reflects ila Bank's ongoing commitment to providing digital banking solutions that keep pace with customers' changing needs and embodies its promise to be the bank that reflects their aspirations and needs. Al Buraq Islamic personal finance starts from BD 1,000, with competitive profit rates and flexible repayment periods. Customers can also transfer their existing finances from other banks in the Kingdom of Bahrain to their Al Buraq Islamic account, giving them greater flexibility in managing their financial obligations through one easy-to-use digital platform. This launch represents an important milestone in ila Bank's development journey, as it allows customers to benefit from facilitated financing solutions designed to meet their daily financial needs and support their personal aspirations. On the occasion of the launch, ila Bank gives its customers an additional reason to apply for Al Buraq Islamic personal finance. Customers who obtain Al Buraq Islamic personal finance, or transfer their current finance to their Al Buraq Islamic account, will enter a draw to win repayment of their finance amount of up to BD 20,000. The campaign runs until 31 March 2027, and two winners from Al Buraq Islamic personal finance customers will be selected in the draw to be held on 20 April 2027. Whether customers are seeking greater flexibility in meeting their financing needs, financing their personal aspirations and goals, or benefiting from distinguished Islamic financing solutions, Al Buraq Islamic personal finance enables them to turn these aspirations into reality. Commenting on the launch, Khalil Saleh, Director of Asset Services at ila Bank, said: "The launch of Al Buraq Islamic personal finance represents an important achievement in our journey to expand customer options through innovative digital banking solutions. By providing an integrated digital experience supported by a financing structure compliant with the provisions of Islamic Sharia, we offer a seamless and accessible solution that meets various customer needs and preferences while preserving the core values of Islamic banking. Since its establishment, ila Bank has continued to redefine the banking experience by focusing on simplicity, innovation, and customer centricity, and this new product enhances our ability to empower customers to achieve their financial goals with greater confidence and flexibility." For more information on Al Buraq Islamic finance, including eligibility criteria and application requirements, customers can visit the website www.ilabank.com.

Bank ABC
Aug 12th, 2026
Bank ABC announces results for the period ended 30 June 2026.

Bank ABC announces results for the period ended 30 June 2026. Net profit attributable to the shareholders of the parent of US$111 million. 2026-08-12 Manama, Bahrain: Bank ABC (Arab Banking Corporation B.S.C.) - Bahrain Bourse Trading Code "ABC" - today announced its financial results for the the six-month period ended 30 June 2026. The conflict in the Middle East continued to be a major external factor affecting Bank ABC's performance through the first half of 2026. Heightened geopolitical tensions placed increasing strain on global and regional economic conditions, contributing to higher inflation and commodity prices and significant disruptions to trade flows and supply chains. This affected economic activity and business momentum to varying degrees across the markets in which the Group operates. Risks remain elevated, given the potential for further escalation, continued commodity market disruptions and broader geopolitical uncertainty. Against this challenging backdrop, Bank ABC remained focused on operational resilience and business continuity, ensuring uninterrupted service to clients, supporting the wellbeing of its employees and maintaining business-as-usual operations across the franchise. At the same time, the Bank continued to enhance its risk management and monitoring capabilities, enabling the proactive identification and management of potential credit, market and liquidity risks arising from the evolving environment. Despite these unusual operating conditions, the Group delivered resilient underlying operating performance, supported by the strength of its diversified footprint. H1 2026 Net Profit attributable to the shareholders of the parent was US$111 million, representing a reduction of 27% yearonyear (YoY). Underlying this, the Group's Operating Profit performance remained broadly in line YoY, driven by a core business revenue growth of 5% YoY, and through disciplined cost management. The reduction in Net Profit was primarily driven by a higher provision charge compared with the prior year, reflecting prudent Expected Credit Loss (ECL) provisioning considering the prevailing macroeconomic environment, together with the absence of one-off recoveries recognised in the previous year. Capital and liquidity ratios remained robust and comfortably above regulatory requirements. During the period, the Bank received several prestigious industry awards underscoring its continued commitment to business excellence, clientcentricity and innovation. Most recently in 2026, the Bank was awarded 'Best Bank for Cash Management in the Middle East', 'Best Bank for Long-Term Liquidity Management in the Middle East', Best Corporate Cross-Border Payments Solutions in the Middle East' and 'Best Cash Management Bank in Bahrain' by Global Finance. In addition, Bank ABC's mobile banking app was named the 'Best Mobile Banking App in the Middle East', while its digital subsidiary, ila Bank, was recognised as the 'Best Retail Digital Bank in MENA,' both by MEED's MENA Banking excellence 2026. Looking ahead to the second half of 2026, the Group will continue to monitor regional geopolitical and economic developments closely, while maintaining its focus on balance sheet strength, risk discipline and supporting clients across its core markets. Commenting on the H1 2026 results, Bank ABC Group Chairman, H.E. Mr. Naji Belgasem, said: "While global uncertainty remains elevated and has impacted certain of our key markets, business activity proved resilient across other parts of the Group. We remain focused on maintaining operational stability and prudent risk management. As we enter the second half of 2026, Bank ABC is well positioned, underpinned by its strong fundamentals and well-diversified business model, to continue serving as a trusted financial partner to our customers. The Group remains fundamentally strong, with a strong capital position and healthy liquidity ratios to safeguard longterm shareholder value". Detailed summary of the Financial Results is explained below: Q2 2026 Performance Highlights * Consolidated net profit attributable to the shareholders of the parent, for the 3 months of Q2 2026 was US$59 million, a reduction of 22% compared to US$76 million reported for the same period last year, mainly due to a higher provision charge arising from the prevalent macro economic uncertainties. * Earnings per share for the period was US$0.016, compared to US$0.024 in the same period last year. * Total comprehensive income attributable to the shareholders of the parent was US$165 million in Q2 2026, a 67% increase compared to a US$99 million during the same period last year, mainly due to the positive fair value movements in the Bank's securities portfolio during the 3 months of Q2 2026, which recovered from the sharp decline witnessed at end Q1 2026. These were partially offset by FX rate movements in BRL and lower Profits as compared to the same period last year. * Total Operating Income for Q2 2026 was US$353 million; a 4% growth compared to US$338 million reported for the same period last year. H1 2026 Performance Highlights * Consolidated net profit attributable to the shareholders of the parent, for H1 2026 was US$111 million, a reduction of 27% compared to US$152 million reported for the same period last year, mainly due to a higher provision charge. * Earnings per share for the period was US$0.030, compared to US$0.046 in the same period last year. * Total comprehensive income attributable to the shareholders of the parent was US$92 million in H1 2026, a decrease of 64% compared to a US$253 million during the same period last year, reflecting the lower net profit during the period, negative fair value movements in the Bank's securities portfolio during the 6 months of H1 2026 as compared to the prior period and FX rate movements, mainly in BRL and EGP. * Total Operating Income for H1 2026 was US$697 million; a 5% growth compared to US$666 million reported for the same period last year. Balance Sheet * Equity attributable to the shareholders of the parent and perpetual instrument holders at the end of the period was US$4,705 million, compared to US$4,718 million reported at YE25, after absorbing the impact of dividend payment. * Total assets stood at US$46.9 billion as at the end of H1 2026, compared to US$49.9 billion at the 2025 year-end, a 6% reduction, reflecting short-term asset and liability management fluctuations. The banks' lending portfolio showed healthy and diversified growth with loans and advances increasing by 4% compared to YE25. * Healthy Capital and Liquidity ratios: Tier 1 Capital ratio at 15.5% of which CET 1 at 13.2%. LCR and NSFR at 267% and 123% respectively. Bank ABC is a leading player in the region's banking industry, with a presence in fifteen countries across five continents. It provides innovative global wholesale banking solutions in both conventional and Islamic Finance, across Transaction Banking, Project and Structured Finance, Capital Markets, Financial Markets, Real Estate Finance to corporates and financial institutions. It also provides consumer banking services through its network of branches in Jordan, Egypt, Tunisia, Algeria, and through ila Bank, its digital mobile-only bank, in Bahrain and Jordan. The full financial statements and press release are available on the Bahrain Bourse and Bank ABC's website. Bank ABC will host a virtual Investors call to discuss the H1 2026 earnings on 13 August 2026. Further details and the investor presentation are available at www.bank-abc.com. H.E. Naji Belgasem Group Chairman

Gulf Daily News
Oct 12th, 2025
ila Bank wins top honours at Global Finance Awards 2025

Ila Bank, the region's fastest growing, digital, mobile-only bank, powered by Bank ABC, has been named 'Best Mobile Banking App in the Middle East' at Global Finance's Best Digital Bank Awards 2025, which was held in London.

The Paypers
May 28th, 2025
Ila Bank Partners With Mastercard To Launch Solutions And Expand Into New Markets

Bahrain-based ila Bank has partnered with Mastercard to launch new optimal travel products and loyalty offerings.Within Mastercard’s knowledge, ila Bank introduces a loyalty programme that supports cardholders’ lifestyle, providing optimal value across various areas, including dining, luxury shopping, travel, and experiences. The new product line will also expand and augment fraud solutions and privacy protection to secure every transaction. Other products accessible through the ila app include smart digital saving tools such as Hassala and Jamiya, as well as Al Kanz. More about ila Bank x Mastercard partnership. Mastercard has been a partner of ila Bank from the outset, supporting the bank’s strategy

PYMNTS
May 27th, 2025
Mastercard Helps Bahrain’S Ila Bank Launch Loyalty Program

Mastercard has teamed with Bahrain-based ila Bank to help it introduce loyalty programs. The partnership, announced Tuesday (May 27), is centered around things like dining, travel and luxury shopping, while also employing enhanced fraud solutions and privacy protection. “ila has always been about the customer,” Mohamed Almaraj, the bank’s CEO, said in a news release. “We are proud to have maintained our commitment to offering customer-centric solutions and experiences in a growingly cashless economy, and this strategic agreement furthers the ila promise of ‘banking that reflects you.’”

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