Emirates NBD reports 34% rise in SME lending

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Emirates NBD, a leading banking group, has reported a 34% increase in lending facilities towards SMEs (small and medium enterprises) compared to the previous year.

As a leading bank in the country, Emirates NBD has always championed the needs of homegrown SMEs that contribute to the country’s GDP. Moreover, Emirates NBD Business Banking has contributed significantly towards funding the country’s SMEs to support their working capital needs.

The bank has also opened more than 7,000 new business accounts for large and small businesses with account packages including a host of features and benefits for business owners and their entities.

Premium service model

Emirates NBD’s one of a kind offering to UAE SMEs integrates a premium service model, enabling all clients complimentary access to its best-in-class digital platforms, supported by advisory services via a growing branch network across major trade corridors in the UAE, KSA and Egypt.

For its contribution to empowering the SME sector, Emirates NBD recently received recognition at the Middle East & Africa Retail Banking Innovation Awards 2023 by The Digital Banker. The bank was named ‘Best SME Bank in the UAE’ and ‘Best SME Bank in the Middle East’, in recognition of its efforts to provide value-added products and innovative digital services to further the growth of SMEs in the UAE and wider region.

Commenting on the win, Marwan Hadi, Group Head, Retail Banking and Wealth Management at Emirates NBD, said: “Fostering growth in the SME sector is a key objective for Emirates NBD. We are honoured to be recognised by The Digital Banker, further supporting our standing as frontrunner in the region’s banking sector, also acting as a testament to our efforts in empowering the SME segment.”

Innovative tools

He added: “Our customers are our biggest success story with one in four UAE SMEs now banking with Emirates NBD, demonstrating the success of our proposition. The SME sector is what drives this nation’s economy, and we will continue to create and offer more innovative tools that enable businesses and entrepreneurs of all sizes to successfully run their operations.”

Emirates NBD Business Banking operates as a one-stop-solution for UAE SMEs, catering to all their business requirements across multiple products and services across key trade corridors in the UAE, KSA and Egypt, making it the bank of choice for SME customers.