Najm Capital

Najm Fund I + Co-InvestGCC growth equity, infrastructure, and strategic buyouts · Q1 2026 reporting

K. Al Rashidi · Director

Wio Bank

On thesis

Digital Banking·Financial Services Disruption·Growth Equity·Invested 2022·8% stake

Position

Mark1.38x

Gross IRR13%

Invested$65M

Q3 movement:+$72M·CBUAE full banking licence awarded · NIM expansion 40 bps · SME loan book +28% QoQ

LatestNo recent touchpoints recorded.

Next board:2026-05-22

Ownership + team

8% stake · 1 board seat1.0x liquidation preference

Abu Dhabi digital bank · 1.38x mark · platform banking license unlocking B2B embedded finance · deposits and lending growing ahead of plan

Ask about Wio Bank · pulls from SharePoint memos + Snowflake fund DB + firm memory

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Financial profileLatest as of 2026-03-31

Total depositsAED 4.2B+68% YoY · retail + BaaS

Loan bookAED 2.8BSME lending focus · NPL 1.2%

MOIC1.38x$0.5B entry → $0.69B mark

BaaS partners18 activeUp from 6 at entry in 2022

Three-way benchmark

Total depositsmeasured in AED B

Actual

Thesis target

VCP plan

Peer median

Performance update

Total deposits AED 4.2B · +68% YoY · BaaS deposits now 44% of total

SME loan book AED 2.8B · NPL 1.2% · below CBUAE benchmark of 2.5%

18 BaaS API partners active · 4 new enterprise partners onboarded Q1 2026

Central Bank of UAE approved Wio for Islamic banking window · opens AED 800B market segment