With competition in corporate lending in the UAE banking sector weakening, Emirates Bank International (EBI) has integrated its corporate banking function into seven nationwide corporate banking units (CBUs).
Of the seven CBUs, four are located in Dubai and one each in Sharjah, Abu Dhabi and Al Ain. The bank expects this centralisation to bring about quicker turnaround time, an increased focus on business revenues, better quality service to customers and enhanced management of risk.
The new general manager of corporate banking, Abdul Wahed Al Fahim, said the concept of centralised CBUs has been implemented with a view to getting closer to the bank's corporate customers and to provide them with value-added and improved services.
The corporate banking portfolio of EBI which has grown around 15 per cent last year, currently controls roughly about 17 per cent of the corporate portfolio in the country's banking system.
Abdul Wahed said lots of opportunities are emerging, especially in the real estate and construction sector, which is bound to extend to EBI the potential to sustain the growth this year also.
Abdul Wahed said the bank would now, in addition to traditional lending products, focus on building revenues from fee-based services such as corporate advisory, structured finance, etc.
"With a new look designed to depict transparency and efficiency amidst a pleasant environment, we shall strive to bring forth new perspective to the way we conduct our business," said Suleiman Mazroui, chief manager, group affairs, EBI.
Rajan Khetarpal, senior manager and head of the Dubai main CBU said that EBI has made strategic decision to focus and grow the corporate bank.
"The corporate bank has traditionally contributed the bulk of revenues. We hope to grow the pace of our business via focused marketing efforts by each of the units and also providing a conducive environment for our staff and customers to conduct business."
Gulf News 2003
