Emirates NBD, a leading bank in the region, announced that it has been named the most valuable banking brand in the UAE with a brand valuation of US$
1.78 billion, an increase of 40% from 2014.
Ranked third among all banks in the Middle East and Africa region, and 106th globally, in The Banker’s ranking of top 500 global banks, Emirates NBD has moved up 24 places from the 2014 rankings. The Brand Finance Banking 500, conducted by leading brand valuation consultancy Brand Finance, and published in the February edition of The Banker, is a league table of the world’s biggest banks, ranked by their brand value.
“Being ranked the most valuable bank in the UAE is testament to our continued efforts to deliver the most simplified banking solutions to customers in the UAE, and beyond. The overall ranking also reaffirms our vision to be globally recognised as the most valued financial services provider based in the Middle East,” said Shayne Nelson, Group Chief Executive Officer, Emirates NBD.
“With a 50 year history, Emirates NBD continues to grow in reputation, not only in the UAE but also in the wider region. This recognition is a fitting tribute to all our staff who work hard to retain our leadership position, whilst setting benchmarks for the banking industry,” Nelson added.
Emirates NBD is the largest banking group in the UAE by total income and branch network. The bank continues to deliver excellent financial and operational performance. It recently reported record earnings with net profit of Dh5.1 billion for 2014, up 58 per cent compared to 2013. Total Income for the year 2014 grew by 22 per cent to Dh14.4 billion. Net interest income grew 17 per cent to Dh9.5 billion.
Emirates NBD became the first bank in the UAE, and for the first time in its 50-year history, to report an annual operating profit before Impairment in excess of Dh10 billion. The impressive results reiterate the bank’s solid financial foundations as well as its leadership position in the UAE banking sector. The bank is well positioned to grow further 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.