Tadhamon Bank enhances capital adequacy and net property rights, which amounted to about 83 billion riyals, with a multiplier that exceeds the paid-up capital by four times

The Ordinary General Assembly of Tadhamon Bank, held this morning, Wednesday, September 28, 2022, in Sana’a, approved the report of the financial statements for the year ending on December 31, 2021, and reviewed the report of the Sharia Supervisory Board and approved the report of its independent auditor.

In his speech addressing the General Assembly, the Chairman of the Board of Directors, Mr. Shawki Ahmed Hayel Saeed, congratulated the launch of the banking system and the modern internet banking, which meets the aspirations of its clients and keeps pace with the modern development in the banking sector.

The Chairman of the Board touched on the most important achievements and outputs of the strategic business of the bank and the financial results that were achieved during the year 2021, where the internal structure of the bank was improved by making it more proactive and effective, developing the institutional and informational structure, expanding the market share, increasing the number of clients, raising their level of satisfaction, and advancing the level of banking service. Social responsibility and the bank’s contribution to the continuity of the national economy despite the difficulties and crises that our beloved country is going through during the past years, and the creation of strong relationships and partnerships with all clients at home and abroad earned it confidence, which is the bank’s first mission since its inception.

Today, the bank adopts financial and banking services through digital transformation by launching and updating internet banking services, mobile banking, and electronic payment services, as well as services for Yemeni expatriates and express transfers in order to achieve the highest expectations of clients, and expand the network of branches and electronic channels, to meet and keep pace with the growing needs of clients.

During the years of its work, Tadhamon Bank was able to acquire and build strong relationships with all clients and organizations, long-standing and distinguished relations, both with clients inside and outside the country, and with the global network of correspondent banks that were formed as an inevitable result of Tadhamon Bank applying the highest standards of compliance and transparency, which also enabled the bank to harvest many Awards in a number of international forums.

The bank was also able, through Tadhamon Real Estate, the real estate development arm of the bank, to complete cities and residential towers with modern designs that meet the desires of clients and expatriates in both Sana'a and Taiz, with future plans to expand in several governorates.

In light of the lofty goal of promoting social responsibility, the Bank is committed to supporting and encouraging young entrepreneurs, as a main principle since its inception. This culminated in launching and sponsoring many specialized initiatives for entrepreneurs in small and medium enterprises through the Tadhamon Microfinance Program.

It is worth noting that Tadhamon Bank has a tangible activity in supporting various community initiatives, whether economic activities such as its sponsorship of the Start-up event, entrepreneurship and small projects, the Global Entrepreneurship Week, Tedex Taiz events, and others.

  In the field of training and qualifying university students to qualify them for the labor market, the bank organized a number of training events on various banking fields, as it trained male and female students of the Accounting Department at Al-Andalus University, as well as students of the Department of Financial and Accounting Sciences at the Yemeni University, and students of the Department of Management and Accounting Information Systems at Future University.

  The bank also launched the distribution of school bags to a number of public school students in 9 Yemeni governorates, namely: (Sana'a, Amran, Dhamar, Taiz, Aden, Mukalla, Seiyun, Ibb, and Hodeidah).

Tadhamon Bank is one of the largest Yemeni banks. It owns a wide network throughout the country, including (37) branches and offices, about (145) ATMs, and more than (3,500) authorized remittance agents. It also has a customer base that is the largest in the country.