Al Rayan Bank cements position in London with new 10,000 sq ft headquarters
Al Rayan Bank has cemented its position as the leading Islamic finance provider in the UK, with the opening of a new headquarters in London’s West End.
Set for an official, VIP opening later this summer, Al Rayan Bank’s new premises at No. 4 Stratford Place, W1C, will act as its UK headquarters and registered head office. In 2022, Al Rayan Bank acquired the five floored 18th century building, spanning almost 10,000 sq ft. Prior to the opening, the building has undergone a major high-specification renovation to provide Grade-A office accommodation and first-class facilities for customers, while maintaining impressive original features.
As the UK’s leading and most successful Islamic bank, Al Rayan Bank delivered a record financial performance in the year ending 31 December 2022 following a new focus on commercial and premier banking. The Bank, which employs more than 200 people in the UK, recorded pre-tax profits of £20.80m in the period, up from £9.63m in 2021. The opening of the headquarters in London further demonstrates the success of the now well-embedded strategy.
At No.4 Stratford Place, Al Rayan Bank’s premier and commercial banking services will be provided to customers. The space also provides office accommodation to the Bank’s Board and Executive Management teams.
Giles Cunningham, Chief Executive Officer of Al Rayan Bank, said: “The last 18 months have been transformative for Al Rayan Bank. We repositioned our business against a challenging economic backdrop for the UK economy and delivered our strongest ever financial performance. This success, and the opening of our new 10,000 sq ft headquarters in the Capital, is real testament to the strength of our strategy and our commitment to our premier and commercial customers.
“I’m looking forward to the official opening of the office this summer and welcoming colleagues and clients alike to our new space. Being able to house our executive team, and wider premier and commercial colleagues within one location is going to help us focus and grow further.”
Across the five floors there will be space for premier and commercial clients to meet with the Al Rayan Bank team, alongside an exclusive customer lounge featuring and an impressive roof top with views across London’s West End.
The space will also act as a location for colleagues from Masraf Al Rayan, Al Rayan Bank’s Qatari parent and colleagues from the Bank’s operational office in Birmingham to meet and work.
The new headquarters set in the heart of London’s West End, moments from Bond Street station, will replace previous London offices at 15 Stratford Place and 44 Hans Crescent. The building itself has a history of housing banking, with London & Westminster Bank using the building in the 1840s.
