Business | Banking
Emirates NBD unveils new brand
Bank plans to expand into China in 2010
- By Babu Das Augustine, Deputy Business Editor, Gulf News
- Published: 00:00 November 22, 2009
Dubai: Emirates NBD, the Gulf region's largest bank by assets, on Saturday unveiled its new brand identity, marking the culmination of the merger process which began in early 2007.
Unveiling the merged identity of two legacy banks Emirates Bank International and National Bank of Dubai, Emirates NBD Chairman Ahmad Humaid Al Tayer said:
"The Emirates NBD brand reflects and reinforces our position as a leading banking group in the region. It is testament to the strategy of our management team and the strength of the bank's core businesses that we have been able to complete this landmark merger and integration during the economic and financial challenges that the global financial industry is witnessing.
"We are confident that the new brand will aid the growth and development of Emirates NBD to meet both the local and international needs of our clients." Emirates NBD's new logo draws inspiration from the collective heritage of two legacy banks, the new brand has been designed to reinforce Emirates NBD's values of customer focus, service excellence, innovation, integrity, passion for performance and teamwork.
Logo
The logo is derived from the common arc elements of the two legacy logos, creating an icon that is symbolic of an equal partnership and common heritage, while being distinct, fresh and relevant.
Following yesterday's launch of the new brand identity, the bank is expected to roll out the new identity to its entire branch network within next two months
Speaking to reporters on the sidelines of the launch, Rick Pudner, Chief Executive of Emirates NBD, said the bank is looking to expand its geographical reach in Asia in 2010 with a full-fledged branch in Singapore and will have a representative office in China.
As far as regional expansion is concerned, Pudner said the bank will pursue organic growth for its commercial banking activities in the region and will focus on expansion of asset management business.
He said the bank's loan growth is expected to remain in line with the central bank's forecast of 10 per cent next year.
The bank confirmed its plans to resume the Euro Medium Term Note Programme (EMTN) in the first quarter of next year. But the CEO said that the bank has no plans for a note issue this year although the investor interest is strong.
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