Emi­rates NBD ranked largest bank in ME

The Pak Banker - - Company& -

DUBAI: In a clear sign of its dom­i­nant mar­ket po­si­tion, Emi­rates NBD has been ranked the largest bank in the Mid­dle East by Global Fi­nance, which also recog­nised Emi­rates NBD as one of the top 50 banks across all in­ter­na­tional emerg­ing mar­kets.

These in­de­pen­dently com­piled rank­ings by Global Fi­nance, a monthly mag­a­zine head­quar­tered in New York, con­firm the sta­tus of Emi­rates NBD as the lead­ing bank in the re­gion - and as an in­creas­ingly sig­nif­i­cant pres­ence glob­ally at a time when key emerg­ing mar­kets con­tinue to drive the global econ­omy out of re­ces­sion. De­spite the im­pact of the global fi­nan­cial down­turn, Emi­rates NBD has sus­tained a year-on-year com­pound an­nual growth rate (CAGR), sup­ported by its fo­cus on sus­tain­able growth and its on­go­ing new busi­ness prod­uct and ser­vice launches such as Emi­rates NBD As­set Man­age­ment, Emi­rates Money and Gold Busi­ness. The bank projects that it will sus­tain this growth over the next three years, on the back of strate­gic poli­cies and fur­ther long-term ini­tia­tives, ac­cord­ing to Ja­mal Bin Gha­laita, Deputy Chief Ex­ec­u­tive Of­fi­cer, Emi­rates NBD Group.

"We are very pleased that the bank's strong per­for­mance has been recog­nised by Global Fi­nance," said Bin Gha­laita. "Over the past three years, Emi­rates NBD Group has grown its port­fo­lio three-fold and ex­panded its UAE-wide net­work to more than 130 branches and over 700 ATMs.

"To­day, with more than 8000 em­ploy­ees , Emi­rates NBD is also di­rectly con­tribut­ing to the eco­nomic growth and di­ver­si­fi­ca­tion of the UAE as an em­ployer of choice and leader in Emi­rati­sa­tion among fi­nan­cial ser­vices firms," he said. "We look for­ward to sus­tain­ing our growth in the years to come."

"This year's re­sults show that al­most two years into the storm that many be­lieved would send the emerg­ing mar­kets into a tail­spin, the lead­ing banks of the de­vel­op­ing world are prov­ing big­ger, stronger and more re­silient than ever," said Joseph Giar­ra­puto, Pub­lisher and Ed­i­to­rial Di­rec­tor, Global Fi­nance.

Global Fi­nance as­sem­bled these lists with the help of Banker­salmanac. The ba­sis of all Global Fi­nance rank­ings was the size of to­tal bank as­sets as of the end of 2009. For fur­ther in­for­ma­tion re­lated to these rank­ings, please visit. - PB News

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.