Dubai's Emirates NBD targets growth from new markets in 60th year of operations
UAE mega-bank targets more growth from overseas, launches new logo for 60th year
Dubai: Emirates NBD will continue to press its growth case in ‘new geographies’ – and maintain its position ‘as the strongest bank in the UAE’.
“Emirates NBD has played a pivotal role in supporting the growing economic prosperity of the UAE and its communities over the years,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD.
“We have demonstrated the strength of our vision and brand to the world, positioning ourselves as a regional leader in global banking innovation. Today, we can proudly say that Emirates NBD is one of the forerunners for the country’s financial services industry.”
The statement from Sheikh Ahmed comes as the Dubai bank marks its 60th year of operations as the ‘first national bank in the UAE’. Emirates NBD – which has a 30,000 strong workforce across its network – has 17 million plus clients in 13 countries.
To mark the 60th year, the bank introduced a special logo as well as the ’60 years together’ theme.
"Looking ahead, leaning on our strategic pillars, Emirates NBD will continue to expand and drive growth in new geographies and maintain our position as the strongest bank in the UAE,” said Sheikh Ahmed.
Its origin dates back to 1963, when late Sultan Al Owais and a leading group of merchants approached the late Ruler of Dubai, Sheikh Rashid bin Saeed Al Maktoum. This turned into the first national bank in the country, with NBD 'born to support the growing prosperity in the emirate following the discovery of oil'.
Overseas presence
International growth remains an integral part of the bank's go-for-growth script. It currently has operations in Egypt, India, Turkey, Saudi Arabia, Singapore, the UK, Austria, Germany, and Bahrain and representative offices in China and Indonesia. All of which adds up to 879 branches.
"With enhanced geographical coverage and its extensive network across key trade corridors, Emirates NBD is well poised to facilitate increased volumes of trade and capital flows with the larger MENAT region," the bank said in a statement.