Dubai – Emirates NBD, a leading bank in the region, on Wednesday announced its position as the UAE’s most valuable banking brand with a $3.406 billon brand valuation in The Banker’s annual brand valuation league table.
The Bank also secured a spot among the top 100 global banking brands, coming in seventy-fifth worldwide up from ninety-sixth in 2016.
Emirates NBD has moved up almost twenty places from its 2016 spot in The Brand Finance Banking 500, a prestigious ranking of the world’s 500 biggest banks, conducted by leading brand valuation consultancy, Brand Finance, and published in the February edition of The Banker. The Bank has been ranked second among all banks in the Middle East and Africa region.
Commenting on the announcement, Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, Emirates NBD: “We are honoured to be ranked as the highest valued banking brand in the UAE this year by a prestigious publication such as The Banker. In the past year, Emirates NBD has launched campaigns that resonate strongly with our target audience and we feel rewarded to be recognised for our successful efforts. Going forward, we will continue to engage with our core audience and enhance the Emirates NBD brand with our focus on customer-centricity and our drive to offer our customers a new age, superior and a 24×7 accessible customer experience.”
In addition to its brand engagement, the bank delivered a solid set of results at the year end of 2016 with net profit up 2 per cent from 2015 to Dh7.24 billion, driven by asset growth and higher recoveries which helped offset lower non-interest income.
The valuation is the latest in a series of global accolades received by the Bank. In addition to being named ‘Bank of the Year – UAE 2016’ by The Banker in December last year, Emirates NBD won Banking and Finance Company of the Year’ at the Arabian Business Achievement Awards. Earlier this year, Emirates NBD became the first bank in the UAE and the Middle East to win in three categories of the Euromoney Awards for Excellence 2016: Best Bank in the Middle East, Best Bank in the UAE and Best Digital Bank in the Middle East. Emirates NBD was also named Bank of the Year – Middle East 2015’ by The Banker; Banking Company of the Year’ at the 2016 Gulf Business Industry Awards; Best Consumer Digital Bank in Middle East and Africa’ in the UAE and ‘Best Mobile Banking App’ Middle East and Africa, for the second year running, in addition to being named ‘Best in Mobile Banking’ for Middle East and Africa at Global Finance’s Best Digital Bank Awards.