Emirates NBD ranked UAEs top banking brand with a brand valuation of USD 4.04 billion

Business

Emirates NBD ranked UAEs top banking brand with a brand valuation of USD 4.04 billion

Dubai, United Arab Emirates, 17 February 2019: Emirates NBD, a leading bank in the region, today announced its position as the UAEs most valuable banking brand with a USD 4.04 billion brand valuation in The Bankers annual brand valuation league table. The bank also secured a spot among the top 100 global banking brands and was ranked second in the Middle East and Africa region.

Emirates NBD was ranked seventy-sixth worldwide in the Brand Finance Banking 500, a prestigious ranking of the worlds 500 biggest banks, conducted by leading brand valuation consultancy Brand Finance and published in the February edition of The Banker.

We are delighted and honoured to maintain our position as the UAEs most valuable banking brand by a renowned institution such as The Banker, said Shayne Nelson, Group CEO, Emirates NBD. Our brand value reflects our robust financial performance as well as our collective efforts and ongoing initiatives in customer service, product development, corporate social responsibility, marketing and others. As we prepare for Expo 2020 Dubai next year, Emirates NBD will remain at the forefront with its initiatives to simplify banking, aiming to deliver a modern technology-driven banking experience with the human touch.

Expanding on the banks values and commitment to its customers and the UAE, Shayne Nelson added that Emirates NBD will continue to engage its customers and the community with innovative campaigns, programmes and initiatives that celebrate the nations unity and commitment to diversity during the Year of Tolerance.

In addition to its brand engagement, Emirates NBD delivered a record set of results in 2018 net profit up 20% year-on-year to AED 10 billion, underpinned by higher income and a lower cost of risk. The bank achieved another milestone as total assets surpassed AED 500 billion for the first time. The Groups balance sheet remains healthy with a further strengthening in capital coupled with strong liquidity and stable credit quality.

The recognition from The Banker comes in a series of accolades for the Bank for its performance last year. Emirates NBD won Best Bank in the Middle East and Best Bank in the UAE for the fourth consecutive year at the Euromoney Awards for Excellence in 2018. The Bank was also named Best Retail Bank in the UAE, Best Retail Bank in the Middle East, Best Digital Bank in the Middle East and Best Online Bank globally by The Asian Banker. In recognition of its progress towards advancing its digitization agenda, Emirates NBD also secured the Best Digital Bank - UAE, Best Integrated Consumer Banking Site - UAE, and Best Consumer Digital Bank-UAE, by Global Finance Worlds Best Consumer Digital Banks in the Middle East Awards 2018.