HONG KONG, Aug. 12, 2026 /PRNewswire/ — Tencent Cloud, the cloud business of global technology company Tencent, today announced its collaboration with Alsaif Gallery, one of Saudi Arabia’s leading home appliance and furniture retailers, to support the company’s enterprise AI transformation journey. Leveraging Tencent Cloud’s local cloud infrastructure and AI capabilities in Saudi Arabia, Alsaif Gallery has deployed a self-developed enterprise AI agent platform designed to enhance operational efficiency, streamline decision-making, and support more intelligent customer experiences across its omnichannel business.

As enterprises across Saudi Arabia increasingly explore practical applications of AI, organizations are seeking secure, scalable, and compliant cloud foundations that can support innovation at scale. As a top-three home appliance and furniture retailer with a strong omnichannel presence in Saudi Arabia, Alsaif Gallery has been advancing its digital transformation strategy to enhance both operational efficiency and customer experience. To accelerate the adoption of AI across its business while meeting requirements for performance, cost efficiency, and data compliance, the company selected Tencent Cloud as its cloud and AI technology partner.

Building a Reliable Foundation for Enterprise AI

Tencent Cloud provides Alsaif Gallery with stable and highly cost-effective cloud services hosted in its local cloud infrastructure in Saudi Arabia, enabling the retailer to seamlessly deploy its self-developed enterprise AI agent. By leveraging Tencent Cloud’s local infrastructure, Alsaif Gallery benefits from reduced latency, enhanced user experience, and support for data localization requirements in compliance with Saudi Arabia’s local regulations.

Beyond cloud infrastructure, Tencent Cloud delivers a comprehensive portfolio spanning AI development platforms, AI APIs, and infrastructure services across computing, storage, networking, and databases. Combined with its broader ecosystem capabilities and dedicated technical support, Tencent Cloud helps organizations accelerate the deployment and scaling of enterprise AI applications.

Powering AI-Driven Business Transformation

The AI agent supports a range of business scenarios across both internal management operations and customer-facing services, helping enhance operational efficiency and deliver more intelligent, personalized customer experiences across Alsaif Gallery’s omnichannel business.

Following the successful deployment of its AI platform, Alsaif Gallery has deepened its collaboration with Tencent Cloud across AI, cloud services, and software services to further advance its business.

Rachel Xie, General Manager of Tencent Cloud MENA, Operations, Channel Development and Marketing of Tencent Cloud International, said: “Saudi Arabia is rapidly embracing AI and digital transformation, and enterprises are looking for trusted technology partners that can provide reliable infrastructure, enterprise-ready AI capabilities, and strong local support. We are pleased to support Alsaif Gallery with our local cloud infrastructure, AI capabilities, and comprehensive ecosystem, helping accelerate its AI adoption journey and explore practical AI applications that can deliver meaningful business value. We look forward to supporting more organizations across the Kingdom as they unlock the value of AI.”

Khaled Atif, IT Director of Alsaif Gallery, said: “Our goal was to make AI a practical tool that delivers value across the business. With Tencent Cloud’s local infrastructure and support, we have successfully deployed our enterprise AI platform to support smarter business operations and more personalized customer experiences. This has enabled us to accelerate innovation while creating greater value for both our customers and employees.”

The collaboration highlights Tencent Cloud’s growing commitment to supporting Saudi Arabia’s digital economy and AI ambitions. Following the launch of its first cloud region in the Kingdom, Tencent Cloud continues to expand its local cloud and AI capabilities to help organizations accelerate innovation while meeting evolving business and compliance requirements. Through partnerships with enterprises such as Alsaif Gallery, Tencent Cloud remains committed to supporting Saudi Arabia’s digital transformation and Vision 2030 goals.

About Tencent Cloud

Tencent Cloud, one of the world’s leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT, and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation. 

About Alsaif Gallery

Alsaif Gallery is a leading Saudi retailer of home appliances and kitchenware, and a leading Saudi joint stock company in the retail sector. Established in 1993 and listed on the Saudi Stock Exchange (Tadawul) in 2022, the company has a strong retail presence across Saudi Arabia, as well as in the UAE, Kuwait, Qatar, and Oman, alongside a modern e-commerce platform. The company is also highly advanced in its adoption of IT and digital technology, and is known for its wide variety, trusted quality, and innovative approach to home retail.

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SOURCE Tencent Cloud

Hyundai Motor Group presents its Digital Transformation (DX) and AI transformation (AX) journey, key achievements and future vision, highlighting its preparation for the AI era and innovation across business functionsEstablishes the foundation for organization-wide AI transformation (AX) through transformed ways of working and a data-driven business environment
Enhanced collaboration and knowledge sharing across the organization, while building a global data foundation through the Global One Data PipelineExpands AI adoption across the organization through H Chat Pro and broad access to generative AI toolsDelivers AI-powered innovation across R&D, manufacturing and service operations to enhance productivity and customer valueShowcases applications including Crash Safety AI Assistant, AI Automated Recognition Service, E-FOREST: POLARIS and customer support solutionsPrepares for the Physical AI era by leveraging data and operational expertise across vehicles, robotics and manufacturing

SEOUL, South Korea, Aug. 12, 2026 /PRNewswire/ — Hyundai Motor Group (the Group) today shared its digital transformation (DX) and AI transformation (AX) journey, key achievements and future plans at the Hyundai Motor Group AX Achievement Showcase (‘Beyond AI, Transforming the Way We Work’) — held at its headquarters in Seoul.

The event highlighted how the Group has prepared the foundation for AI transformation through its digital transformation efforts since 2019 and showcased the progress, key achievements and future direction of its enterprise-wide AI transformation initiatives.

As the mobility industry rapidly evolves from a manufacturing-centered industry to one where data and software capabilities define competitiveness, the Group has proactively advanced its digital transformation efforts since 2019. Building on accumulated data and a digitally enabled working environment, the Group is now accelerating AI transformation across the organization.

“AI is undoubtedly an important technology, but ultimately it is a tool that companies must utilize. What matters is not the technology itself, but how quickly an organization can understand new technologies, including AI, apply them to its work and business, and internalize them as a source of competitive advantage. Building on our ongoing digital transformation efforts, Hyundai Motor Group is expanding AI transformation through the integration of AI and other intelligent technologies.” – Eunsook Jin, President and Head of ICT Management Division, Hyundai Motor Group

More information about Hyundai Motor Group can be found at: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Newsroom, Genesis Newsroom

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SOURCE Hyundai Motor Group

Efficiency ratio remains the best in Israel, standing at only 24.7% in Q2, compared to 29.1% in the previous quarter, reflecting continued execution of Leumi’s technology leadership and AI strategy
Total capital return (cash dividend and share buyback) in Q2 amounts to approx. NIS 1.4 billion ($470 million) Strong growth in the loan portfolio – an increase of 9% from the beginning of the year, while corporate credit grew by 14% from the beginning of the year.Responsible credit growth is reflected in credit quality metrics: NPL ratio among the lowest in the banking system – 0.45%, and a low loan loss expense ratio of 0.20% in Q2 and 0.17% in the first half of the 2026Robust financial indicators: CET1 ratio of 11.65%, total capital ratio of 14.43% and liquidity coverage ratio of 122%

TEL AVIV, Israel, Aug. 12, 2026 /PRNewswire/ — Bank Leumi (TASE: LUMI) published today its second quarter 2026 financial statements.

Q2 2026 Financial Highlights: 

Net income amounted to NIS 2.8 billion ($940 million), compared to NIS 2.6 billion ($873 million) in the corresponding quarter last year – an increase of 8.5%. Excluding the effect of the special tax imposed on banks, net income in the second quarter amounted to NIS 3.1 billion ($1 billion). Net income in the first half of 2026 amounted to NIS 5.2 billion ($1.7 billion). The first-half results reflect performance at the upper end of the annual profitability target, in line with the Bank’s 2026 strategic plan of net income of NIS 9-11 billion.

Return on equity was 16.3%, compared to 16.2% in the corresponding quarter last year. Excluding the effect of the special tax on banks, ROE in the second quarter stood at 17.9%. ROE in the first half of 2026 was 14.9%, achieving the upper end of the return range defined in the strategic plan (the target set was an ROE of 13.75%-15.25%).

Efficiency ratio was 24.7%, compared to 26.9% in the corresponding quarter last year and compared to 29.1% in Q1 2026. Leumi’s efficiency ratio remains the best in Israel and among the best globally over time, among others in light of the successful execution of its technology leadership and AI strategy in recent years.

Dividend amounts to NIS 1.4 billion ($470 million), of which NIS 1.1 billion ($369 million) is cash dividend and the remainder is share buyback. Total capital return represents 50% of the quarterly net income, in line with the strategic target.

Responsible growth in the loan portfolio with a focus on strategic segments:

During the quarter, the Bank continued to focus its credit growth on the corporate, commercial and mortgage segments. In Q2, Leumi’s loan portfolio increased by 3.4%. Since the beginning of the year, the credit portfolio grew by a total rate of 9%, with the corporate portfolio growing by 14%, the commercial portfolio growing by 6.5% and the mortgage portfolio growing by 4.1%. The growth rate exceeds the target set in the Bank’s strategic plan (an annual growth rate of 8%-10%).

Loan portfolio quality: Alongside credit growth, the Bank continues to maintain high-quality credit indicators. The NPL ratio stands at only 0.45%. Loan loss expenses in Q2 2026 amounted to NIS 291 million ($98 million), reflecting an expense rate of 0.20% of the average outstanding loans to the public, compared to an expense rate of 0.19% in the corresponding period last year. Loan loss expenses in the first half of 2026 amounted to NIS 457 million ($153 million), reflecting an expense rate of 0.17% of the average outstanding loans to the public, compared to an expense rate of 0.12% in the corresponding period last year. This marks the tenth consecutive quarter in which all the provision was collective, while the specific provision recorded an income.

Deposits by the public increased by 3.4%, amounting to NIS 719 billion ($241 billion).

High capital adequacy: Common equity tier 1 capital ratio as at June 30, 2026 was 11.65% and total capital ratio was 14.43%.

Liquidity coverage ratio as at June 30, 2026 was 122%.

Development of Balance Sheet Items:

Shareholders’ equity as at June 30, 2026 totaled NIS 70.6 billion ($23.7 billion), compared to NIS 65.5 billion ($22 billion) as at June 30, 2026 – a 7.7% increase.

Net credit to the public as at June 30, 2026 totaled NIS 566.5 billion ($190.2 billion), compared to NIS 489.2 billion ($164.3 billion) as at June 30, 2025 – a 15.8% increase.

Housing loans (mortgages) as at June 30, 2026 totaled NIS 163.1 billion ($54.8 billion), compared to NIS 151.5 billion ($50.9 billion) as at June 30, 2025 – a 7.7% increase.

Credit to retail customers as at June 30, 2026 totaled NIS 32.4 billion ($10.9 billion), compared to NIS 30.6 billion ($10.3 billion) as at June 30, 2025 – a 5.7% increase.

Credit to small businesses as at June 30, 2026 totaled NIS 29.9 billion ($10 billion), compared to NIS 27.5 billion ($9.2 billion) as at June 30, 2025 – an 8.6% increase.

Middle-market credit as at June 30, 2026 totaled NIS 73.6 billion ($24.7 billion), compared to NIS 66.4 billion ($22.3 billion) as at June 30, 2025 – a 10.8% increase.

Corporate credit as at Jube 30, 2026 totaled NIS 188.5 billion ($63.3 billion), compared to NIS 154.5 billion ($51.9 billion) as at June 30, 2025 – a 22.1% increase.

Deposits by the public as at June 30, 2026 totaled NIS 718.9 billion ($241.4 billion), compared to NIS 642.3 billion ($215.7 billion) as at June 30, 2025 – an 11.9% increase.

Deposits by retail customers as at June 30, 2026 totaled NIS 230.3 billion ($77.3 billion), compared to NIS 227.3 billion ($76.3 billion) as at June 30, 2025 – a 1.3% increase.

Deposits by small businesses as at June 30, 2026 totaled NIS 62.3 billion ($20.9 billion), compared to NIS 60.4 billion ($20.3 billion) as at June 30, 2025 – a 3% increase.

CET1 capital ratio as at June 30, 2026 was 11.65%, compared to 12.28% as at June 30, 2025.

Total capital ratio as at June 30, 2026 was 14.43%, compared to 14.86% as at June 30, 2025.

Leumi Group – Key Financials

The data in this press release has been converted into US dollars solely for convenience purposes, at the representative exchange rate published by the Bank of Israel on June 30, 2026 – NIS 2.978.

Conference Call Details

A webcast and conference call for analysts and investors will be held on the same day at 5 PM (Israel); 3 PM (UK); 10 AM (ET) to discuss the results.

To access the webcast please register via the link below: BankLeumiQ2.2026-ENG

Please allow sufficient time for registration. There is no need for a password or access code.

The conference call and webcast will be accompanied by a presentation, which will be published on the day of the Financial Results release on the Israeli Securities Authority reporting website (MAGNA), and on Leumi’s Investor Relations website.

An archived recording of the webcast will be available on Leumi’s website one business day after the publication of the results.

For more information, please visit the Investor Relations page on our website or contact Irit Avissar, VP, Head of Investor Relations, at investorrelations@bankleumi.co.il.

The conference call and webinar do not replace the need to review the latest periodic and quarterly reports containing full information, including forward-looking information, as defined in the Israeli Securities Law, and set out in the aforementioned reports.

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SOURCE Bank Leumi