Emirates NBD, a leading banking group in the region, today announced that it had been awarded the prestigious 'Bank of the Year – UAE 2019' award by Financial Times' monthly publication, The Banker, in recognition of its robust financial performance and pioneering approach to innovation in digital banking.
In awarding the top UAE title to Emirates NBD, The Banker stated that "the judges were particularly impressed by Emirates NBD's embracing of open banking, and the accompanying changes made to its business model and underlying IT architecture."
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, Emirates NBD, said: "We are honored to be named 'Bank of the Year – UAE 2019' for the fourth time by an institution as reputed as The Banker. This recognition is a testament to our employees' tireless efforts in ensuring that Emirates NBD continues to lead the way for the region's banking sector in customer experience, digital innovation, and corporate and social responsibility. As we prepare for Expo 2020 Dubai next year, we will continue to strengthen our proposition to be the bank of choice for customers, employees, and shareholders."
Emirates NBD delivered a healthy set of results for the first nine months of 2019, with net profit up 63% year-on-year to AED 12.5 billion. The bank marked many milestones over the year, including completing the acquisition of Turkey-based DenizBank in the third quarter of 2019. The acquisition represents a significant turning point in Emirates NBD's growth story, expanding its presence to 13 countries and establishing the bank as a leading player in the MENAT region with over 14 million customers. Another major highlight was the creation of E20., a digital business bank for SMEs and entrepreneurs. The launch of E20. Two years after Emirates NBD introduced Liv., its highly successful digital lifestyle bank has already secured 300,000 customers and counted.
The recognition from The Banker follows a series of accolades received by Emirates NBD in recent months. The bank has been ranked among the top 20 in Forbes' third annual list of the World's Best Regarded Companies. It was also awarded 'Best Digital Bank in the Middle East,' 'Best Bank in the UAE,' and 'Best Investment Bank in the UAE' by Euromoney Awards for Excellence 2019. Besides, Emirates NBD was named the UAE's most valuable banking brand, with a value of USD 4.04 billion, in The Banker's annual brand valuation league table. The bank was also honoured for its pioneering corporate responsibility efforts and employee volunteering by IMPACT2030, the United Nations' corporate volunteering arm.