Dubai's largest bank Emirates NBD on Sunday confirmed that its system is encountering teething problems as it is in the process of upgrading the core banking system.
The lender's statement came after some customers said they were not able to carry out transactions due to technical glitches.
"Emirates NBD is currently upgrading its core banking system to provide a better and safer banking experience for our customers. We have encountered some teething issues and sincerely regret the delay and apologise for the inconvenience to our customers. Our teams have identified the issues and are working hard to resolve these at the earliest, the Dubai-based bank said in a statement to Khaleej Times.
However, the bank said its customers can continue to use their debit and credit cards, withdraw cash from any of its ATMs, transact at any shopping outlet and continue making online purchases.
As part of its Dh1 billion digital transformation drive, Emirates NBD completed the third phase of its international core banking system upgrade in December 2019 to boost innovation and efficiency across its domestic and international operations.
The UAE banks have been investing massively in the deployment and upgradation of their technologies as customers are increasingly opting for online and mobile banking.
In the second-quarter of 2020, Emirates NBD said it experienced an increase in the number of both retail and corporate customers using its digital offering.
The bank said its branches are operational and available to service customer banking needs. "We would like to thank our customers for their patience as we work to restore uninterrupted online and mobile banking services that should be available soon," said the statement.
Emirates NBD reported 45.3 per cent plunge in net profit to Dh4.1 billion for the first half of 2020 due to higher impairment charges.
Its total assets rose two per cent to Dh694 billion as net interest income increased 36 per cent year-on-year and non-funded income grew 24 per cent with the acquisition of DenizBank in 2019.
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