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· In line with bank's commitment to support UAE's transformation to a low-carbon economy
· First bank in the region to promote Electric and Hybrid cars
Dubai - Emirates NBD, a leading bank in the region, announced today the launch of a Green Auto Loan product in line with its commitment to support the UAE’s transformation into a low-carbon economy, as part of UAE Vision 2021. The Green Auto Loan has been designed in response to the growing interest from residents in supporting a green and sustainable economy in the UAE, and seeks to encourage customers to invest in environmentally friendly vehicles.
Commenting on the launch, Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD said: “There is growing global acceptance about the need to earnestly pursue initiatives that enable nations, organisations and individuals to transition to a sustainable low-carbon future. While this presents a significant opportunity there is also an enormous challenge in the considerable capital required to transform economies that have been largely reliant on a fossil-fuel based energy system. We at Emirates NBD believe that a three-way partnership is imperative between policy, technology and capital to support independent initiatives, and that is why we are taking the step to launch a Green Auto Loan.”
Customers interested in investing in electric or hybrid cars sold from approved auto dealerships in UAE are eligible to apply for the Green Auto Loan, which offers 50 basis points discount on applicable interest rate (reducing) or up to 25 basis points on flat rate. As an introductory offer, Emirates NBD is also offering cash back on the full processing fee.
Emirates NBD’s Green Auto Loan aims to contribute to a cleaner environment by promoting Electric and Hybrid Cars through participation and contribution to the Government Accelerators Initiative, and supporting the Dubai Green Mobility Initiative under Dubai Supreme Council of Energy. The bank is also a signatory to the UNEP Dubai Declaration for Sustainable Finance under the auspices of the Ministry of Climate Change and Environment.
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About Emirates NBD:
Emirates NBD is a leading banking Group in the region. As at 31st December 2016, total assets were AED 448 Billion, (equivalent to approx. USD 122 Billion). The Group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 per cent of all financial transactions and requests conducted outside of its branches. The bank currently has 219 branches and 1012 ATMs and CDMs in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand. 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 and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform.
For more information, please visit: www.emiratesnbd.com
For further information on Emirates NBD, please contact:
Ibrahim Sowaidan
Senior Vice President
Head - Group Corporate Affairs
Emirates NBD
Telephone: +971 4 609 4113 / +971 50 6538937
e-mail: ibrahims@emiratesnbd.com
Tricia Kaul | Shaleen Sukthankar
ASDA’A Burson-Marsteller; Dubai, UAE
Tel: 971-4-4507600; Fax: 971-4-4358040
Email: tricia.kaul@bm.com | shaleen.sukthankar@bm.com
© Press Release 2017
