The Award Recognizes Emirates NBD Egypt as a national leader in providing cash management and trade finance services
Giel-Jan Van Der Tol: Forms a critical part of its ambitious growth plan and long-term commitment to supporting the Egyptian economy
Cairo, October 26th 2015
Emirates NBD Egypt, one of the region's leading banks, has been named as the winner of the Best Cash Management and Trade Finance Bank Award in Egypt from The Asian Banker. The announcement was made on 6 October during the Third Annual Middle East and Africa Awards Ceremony, held at the Park Hyatt, Saadiyat Island in Abu Dhabi.
This prestigious accolade recognizes Emirates NBD Egypt as a national leader in providing cash management and trade finance services, and was awarded despite strong competition from other major international financial institutions.
The judging panel praised the breadth and level of customization of Emirates NBD Egypt's cash management and trade finance solutions. Also commended was the bank's focus on pioneering online service options for both cash management and trade finance, and which have now been taken up by over 65 per cent of corporate clients.
Giel-Jan Van Der Tol, Chief Executive Officer, Emirates NBD S.A.E. said, "This award is excellent external and international recognition of our commitment to offering corporate and government clients here in Egypt with a sophisticated, expanding and yet customized range of banking solutions, including both cash management and trade finance."
He added: "This represents a key pillar of our ambitious growth plan to become one of Egypt's leading private sector banks. With an even longer-term perspective, the increasingly virtualized nature of our services will also ensure we can play a pivotal role in driving the ongoing advancement of Egypt's banking sector."
The Asian Banker is an authoritative, international provider of strategic business intelligence to the global financial services community. Its annual and globally-reputed awards program recognizes excellence in banking across a broad range of categories in addition to cash management and trade finance, including transaction banking, risk management, technology and financial markets, in addition to country-specific awards.
Emirates NBD Egypt's achievements in cash management, payments and trade finance were determined through a combination of surveys, interviews and field research undertaken by The Asian Banker. This formed part of a stringent three-month evaluation process based on a balanced and transparent scorecard which was used to determine all of the winners.
About Emirates NBD Egypt S.A.E.
Emirates NBD acquired the operations of BNP Paribas in Egypt in June 2013. This acquisition combines local expertise, knowledge of the Egyptian market, a large customer base and a wide branch network along with Emirates NBD's regional power and knowledge and vision of investment. The bank currently has 1,800 employees and 62 branches located strategically across Egypt. Emirates NBD S.A.E. offers a wide range of advanced products and services across its retail banking, corporate banking and investment banking businesses.
Emirates NBD Group is a leading banking group in the Middle East. As of 30 June 2015, the bank's total assets were AED 388.1 billion (USD 106 billion). It is a market leader across core business lines and the leading retail banking franchise, with more than 220 branches and over 900 ATMs and Cash Deposit Machines (CDMs) spread across the UAE and overseas. The Group is a major player in the corporate and retail banking arena, and has strong Islamic banking, investment banking, private banking, asset management, global markets & treasury and brokerage operations. Emirates NBD is well positioned to grow and deliver outstanding value to its shareholders, customers and employees.
The Group has operations in the UAE, Egypt, the Kingdom of Saudi Arabia, Qatar, Singapore, the United Kingdom, and representative offices in India, China and Indonesia. Currently more than 12,000 people, representing 70 nationalities, are employed by Emirates NBD, making it one of the largest and most culturally diversified employers in the UAE.
About The Asian Banker
The Asian Banker is the region's most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Hong Kong, Beijing and Dubai as well as representatives in London, New York and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums.
© Press Release 2015