Emirates NBD named Best Private Bank in the UAE for Philanthropy and Social Impact Investing by Euromoney
London, March 15, 2015: Emirates NBD, a leading bank in the Middle East, has been named “Best Private Bank in the UAE for Philanthropy and Social Impact Investing” by pre-eminent international finance magazine Euromoney. The awards were presented at the 2015 Euromoney Private Banking Awards Dinner in London.
On presenting Emirates NBD with the award, Clive Horwood, Editor of Euromoney Magazine, noted: “Each year through our survey the industry recognizes the brightest and the best institutions in global Private Banking. In a challenging and competitive market, this year’s winners have continued to invest in the people and resources necessary to service their clients’ needs.
“Social impact investing, the art of putting money to work for both profit and positive social impact, is still in its infancy as an industry, but it has the potential to become part of the fabric of financial markets. Through the survey respondents, Emirates NBD won the award in recognition of its commitment to driving this industry forward.”
Speaking on the award win, Saod Obaidalla, Head of Private Banking for the Gulf Region at Emirates NBD, said: “Emirates NBD is among the first banks in the region to recognise the power of impact investing. The private banking team is committed to furthering this concept among clients that will better serve the community while providing a healthy return on investment.”
Emirates NBD Private Banking division is currently the leading private bank in the UAE, and has several achievements to its credit. The Private Banking division has expanded regionally and internationally with dedicated Emirates NBD Private Banking centres being established in Dubai, Abu Dhabi, London, Riyadh and Singapore. Since its establishment in 2007, Private Banking has achieved significant growth in combined assets and liabilities, as well as in client portfolios.
Regarded as the benchmark awards for the global private banking industry, the Euromoney Private Banking Awards are now in their 12th year. The survey provides a qualitative and quantitative review of the best services in private banking, by region and by areas of service. It is an informative guide for high net-worth individuals on the range of professional wealth management service providers that are available. Factors such as assets under management, profitability, ratio of clients to relationship managers, and services offered, among other things, are all considered in developing the ranking of top private banks.