Valuation ranks Emirates NBD as UAE's most valuable banking brand
Bank ranked 96 worldwide in The Banker's league table of top 500 global banks, up 10 places from 2015
Dubai: Emirates NBD, a leading bank in the region, today announced that it has secured a spot among the top 100 global banking brands with a brand valuation of US$ 2.186 billion, in The Banker's annual brand valuation league table. The valuation ranks Emirates NBD as the UAE's most valuable banking brand with a 23% increase in brand valuation from 2015.
Emirates NBD has moved up 10 places from its 2015 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 4th among all banks in the Middle East and Africa region.
Emirates NBD is the largest banking group in the UAE by total income, net profit and branch network. The bank recently reported record earnings with net profit up 39% to AED 7.1 billion for the first time in its five-decade-long history. Asset growth, an increase in income, a control on expenses and a significant improvement in the cost of risk all contributed to the bank's robust operating performance, with total income growing 5% to AED 15.2 billion.
Emirates NBD is a market leader in the UAE with a significant retail banking and wealth management business. The bank was recently named 'Bank of the Year - UAE 2015' and as a first for a UAE-based bank, the highly coveted 'Bank of the Year - Middle East 2015' by The Banker. The awards, considered among the most prestigious by the global banking community, recognise Emirates NBD's strong financials and pioneering approach to innovation in digital banking.
Emirates NBD Group has operations in the UAE, Egypt, the Kingdom of Saudi Arabia, Singapore, the United Kingdom and representative offices in India, China and Indonesia.
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About Emirates NBD
Emirates NBD is a leading banking Group in the region. As at 31st December 2015, total assets were AED 406.6 Billion, (equivalent to approx. USD 110.7 Billion). The Group has a leading retail banking franchise in the UAE, with more than 220 branches and over 940 ATMs and CDMs in the UAE and overseas. It is a major player in the UAE corporate and retail banking arena and has strong Islamic banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.
The Group has operations in the UAE, Egypt, the Kingdom of Saudi Arabia, Singapore, the United Kingdom and representative offices in India, China and Indonesia.
The Group is an active participant and supporter of the UAE's main development initiatives and of the various educational, environmental, cultural, charity and community welfare establishments.
For further information, please contact:
Ibrahim Sowaidan
Head - Group Corporate Affairs
Emirates NBD
Telephone: +971 4 609 4113 / +971 50 6538937
e-mail: ibrahims@emiratesnbd.com
Tricia Rego
ASDA'A Burson-Marsteller; Dubai, UAE
Tel: 971-4-4507600; Fax: 971-4-4358040
Email: tricia.rego@bm.com
© Press Release 2016
