Emirates NBD named 'Best Retail Bank in UAE' by Asian Banker

2 Min | 30 March 2017

Emirates NBD, a leading banking group in the region, was recognized as the 'Best Retail Bank in UAE' for 2017 by Asian Banker. In addition, the bank also received the 'Auto Loan Product of the Year in Asia Pacific' award for 2017.

Recognised for innovation and superior proposition in Retail Banking

Also wins Auto Loan Product of the Year

Dubai, 30 March 2017: Emirates NBD, a leading banking group in the region, was recognized as the ‘Best Retail Bank in UAE’ for 2017 by Asian Banker. In addition, the bank also received the ‘Auto Loan Product of the Year in Asia Pacific’ award for 2017. The awards were received by Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD at a ceremony held in Tokyo earlier this month.

Emirates NBD was named UAE’s best retail bank for its robust financial performance, registering a strong growth in operating profit and a declining cost-to-income ratio. Last year, the bank’s Retail Banking Group grew faster than market across most product categories, gaining market share.

The bank continued to lead the market on innovation and digitization, providing customers with enhanced value, easier access and a better user experience. From its Emirates NBD Future Lab™ innovation centre, the bank introduced several first-to-market solutions such as Emirates NBD Pay, a contactless payment service allowing to customers make in-store purchases instantly via their mobile banking app, mePay that allows customers to transfer cash to a friend instantly across the UAE, and Timesavers, a tablet banking app that fast tracks customers from queues and services specific requests instantly.

The bank opened the region’s first Branch of the Future at Emirates Towers, Dubai, featuring Pepper, an artificial intelligence robot, as well as showcasing emerging breakthroughs in banking and payment technology. EVA, the region’s first intelligent voice-based and chatbot virtual assistant was launched, and the bank’s widely popular 60-second DirectRemit service extended to new corridors including Egypt and Sri Lanka.

Commenting on the win, Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD said: “It’s an honour to be recognised once again by Asian Banker as the best retail bank in the country. This is the fourth time the bank is being recognised with this prestigious award, which is a recognition of our commitment to providing customers with innovative value-added products and the highest levels of customer service. Our digital proposition continues to lead the market and enables customers to carry out day to day banking, pay bills, transfer money or apply for new products on the move and round the clock.”

Emirates NBD was also awarded the Auto Loan Product of the Year award for its popular Auto Loan product. Despite a slow market, the bank introduced a number of successful initiatives including customer promotions jointly with dealers to grow market share. The Auto Cash Loan, a unique product variant that allows customers to borrow against their existing cars and unlock equity was launched.

“Our Auto Loan business continues to lead the market, offering customers attractive promotions, flexible payment options, buy-back programmes, and quick approvals. Our Auto Cash Loan launched last year allows customers to borrow against their existing cars, providing access to liquidity during difficult times while our recently launched Green Auto Loan offers customers added pricing incentives to buy electric or hybrid cars and contribute to a cleaner environment,” added Sarkar.

Winners of The Asian Banker Awards were selected after a stringent three-month evaluation process based on a balanced and transparent scorecard refereed by prominent global bankers, consultants and academics, and is one of the most prestigious of its kind.

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