Emirates NBD only Middle East bank to win in product category at The Asian Banker Awards

Press release

Published April 27th, 2014 - 05:07 GMT

Al Bawaba

Emirates NBD, a leading bank in the region, today announced that it has won the 'Best Consumer Credit Product award' and 'Best Risk Management award’ for its Personal Loan business at the 2014 Asian Banker’s ‘International Excellence in Retail Financial Services Awards,’ becoming the only bank in the Middle East to win an award in the products category.

Commenting on the awards, Suvo Sarkar, General Manager – Retail Banking & Wealth Management, Emirates NBD, said: “The two prestigious awards at the Asian Banker International Excellence in Retail Financial Services Awards are significant achievements for the bank. Both awards further reflect the bank’s commitment to place the customer’s needs at the heart of its retail banking operations and also assist in the creation of a financially literate community. This is a key component of Emirates NBD’s service offering, and we are delighted to have been recognised for our customer-centric approach.”

Held in Sydney, the 2014 edition of the awards was attended by over 200 senior bankers from about 30 countries across the Asia Pacific, the Middle East, Central Asia and Africa. Considered the most prestigious of its kind, the awards recognise the best efforts by the retail financial services industry in bringing superior products and services to their customers.

Emirates NBD was recognised with the prestigious ‘Best Consumer Credit Product’ award for its concerted efforts in continuously innovating and in turn expanding the target market. The awards jury was particularly impressed by Emirates NBD’s ‘Borrow Wisely’ campaign, an education initiative that enables customers to evaluate their repayment capabilities and make informed decisions ahead of availing a loan facility.

Emirates NBD has been able to offer differentiated product packages, double coverage for credit life insurance and an exclusive loan return option to salaried, self-employed, banking and non-banking customers. The result was a 37 per cent increase in new business volumes.

Emirates NBD also walked away with 'Best Risk Management Award,’ which acknowledged the various initiatives under Risk Management framework for personal loans with special focus on leveraging the bank’s analytical capabilities to offer best in class products for the benefit of the customers.

The Asian Banker’s International Excellence in Retail Financial Services 2014 Awards ceremony, were held in conjunction with the region’s most prestigious retail banking event, the Excellence in Retail Financial Services Convention.

Background Information

Emirates NBD

Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.