INFORMER Α.Ε.

Contract signed for implementation of a new core banking system and integrated solutions developed by INFORMER Financial

Sanaa, Yemen 24^th October 2007 – YBRD today announced that it has selected INFORMER Financial as the prime contractor for its new core banking system to support the bank’s modernization and expansion strategy.

The management team at Yemen Bank for Reconstruction & Development plans to significantly benefit from investing in the international core banking solution proposed by INFORMER Financial, which is essential to support its business plan and strategy for organic growth. The bank is looking to achieve a centralization of operations through a modern and powerful IT system, which will provide speed and efficiency of operations, whilst being capable to handle the anticipated growth of the bank’s volumes as a result of the organic growth planned. Support of new innovative products and services as well as “time-to-market” are also expected as a result of this new investment.

Simos Simoudis, Chairman & CEO of INFORMER Financial said:

 “We are honored to have been bestowed by the esteemed management of YBRD as prime contractor to license and deliver a fully integrated, turnkey solution to the bank. Our solution leverages a best-of-breed systems architecture that we have based upon T24™, the market leading core banking software from TEMENOS. INFORMER Financial will implement TEMENOS T24™ in tight integration with additional SW components provided by INFORMER Financial and to other such SW already operating in the bank.”

TEMENOS T24™ is recognized as being one of the most technologically advanced core banking systems available in the world today with more than 500 clients across 111 countries. Additionally, the bank has selected to integrate four best-of-breed software components developed by INFORMER Financial that further expand and leverage the capabilities of T24™:

The “local Arabic Platform” of INFORMER, which encompasses all parameterization and developments needed for a bank to operate in the Middle East under TEMENOS T24, including Central Bank Reporting, Interfacing to clearing systems, and most of the local banking business practices and products.

• LOAN ORIGINATOR 24^TM for end-to-end retail and corporate lending including credit scoring and rating capabilities.
• Shareholders’ Register functionality by INFORMER for managing the registry of shareholders.
• Safe Deposit Box functionality by INFORMER.

Mr. Abdulla Salem Al-Gifri, Chairman, Yemen Bank for Reconstruction & Development said:

“We are on track towards our strategic plan for aggressive growth in the coming years, through which a major enabler is the selection and implementation of a new fully integrated core banking system; hence we took a decisive step forward in this process by awarding this project to INFORMER Financial based upon a combination of critical factors. These included a successful implementation track record and experience replacing and integrating core banking systems internationally and developing exceptionally stable platforms to ensure seamless compliance with region-wide statutory and central banking requirements. INFORMER FINANCIAL gave us the additional comfort by offering all additional components needed by the bank coupled with a guaranteed integration, thus assuming total responsibility.” We anticipate an excellent co-operation with INFORMER Financial as a system integrator and a highly professional partner during the implementation project for our Bank. We hope that we will spend our maximum efforts together in this project for the realization of this high quality solution in order to achieve our business objectives.

George Agioutantis, Commercial Director, INFORMER Financial stated:

“We view Yemen and the neighboring countries as an important market within our strategic radar and industry we operate, as the level of technological and business needs are affected by immense regional advancement and global competitive pressures; hence our niche expertise in the IT Banking arena, coupled with our extensive experience in the Middle East, position us as the natural partner for market-leading Banks like YBRD . This is something that clearly not only strengthens our position but also increases our commitment in this market.”  

- ENDS -

From left:
George Agioutantis, Commercial Director (IFSIL), Hussein Fadhl Mohamed, General Manager (YBRD), Abdulla Salem Al-Gifri, Chairman (YBRD), Simos Simoudis, Chairman & CEO (IFSIL), Mohammed Amin Al-Saghair, Deputy General Manager (YBRD) and Mohamad Hamoudeh, Senior Manager (Deloitte & Touche).

About Yemen Bank for Reconstruction & Development

Yemen Bank for Reconstruction and Development (YBRD), is the market leading commercial bank in Yemen, controlled by the Yemeni Government (51%), whereas the remaining shares belong to non governmental entities.

YBRD is the first bank established in Yemen in 1962, before even the creation of the Central Bank of Yemen.

Today operates a nationwide network of 42 branch offices. The bank is active in both Corporate and Retail Banking.

YBRD key figures are:

Paid up Capital        : > 7 billion Yemeni Rials

Total assets        : > 97 billion Yemeni Rials

Total deposits        : > 74 billion Yemeni Rials

For more information about Yemen Bank for Reconstruction and Development please visit: www.ybrd.com.ye

About INFORMER Financial

INFORMER Financial is a TEMENOS authorized international system integrator providing a full range of services from initial implementation through to post-implementation support. The company has undertaken more than 35 core banking system replacements and project implementations and offers a comprehensive range of services including: system upgrades; system health-checks; performance tuning; system outsourcing; outsourcing of help desk services; on-site maintenance, training and support. The company specializes in the integration of best-of-breed banking software and the provision of turnkey solutions.

INFORMER Financial is part of the INFORMER Group of Companies founded in 1979 and which is listed on the Greek Stock Exchange with offices in Athens, Cyprus, Bulgaria, Romania, Albania, Serbia & Montenegro, Luxembourg and Egypt. For more information about INFORMER Financial please visit: www.informerfinancial.com

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