H.H. Sheikh Hamdan bin Mohammad bin Rashid Al Maktoum Crown Prince of Dubai and Chairman of the Executive Council of Dubai, reviewed recent achievements of Emirates NBD
DUBAI, 10 March, 2020 - Crown Prince of Dubai H.H. Sheikh Hamdan bin Mohammad bin Rashid Al Maktoum today visited Emirates NBD's Head Office along with H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of Dubai International Financial Centre, DIFC, on the sidelines of the Bank's 13th General Assembly Meeting.
Their Highnesses were also accompanied by H.H. Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah; H.H. Sheikh Sorour bin Mohamed Al Nahyan; and H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD.
Sheikh Hamdan said: "Emirates NBD is a pioneer in the region's banking industry and has played a vital role not just in the transformation of the UAE's financial sector but also in enhancing its economic growth and resilience. The Bank has delivered exceptional growth even amidst severe headwinds from global economic fluctuations and set high global benchmarks in delivering products and services. It has also played an instrumental part in the expansion of the UAE's footprint across the global banking and financial sector and is continuing to raise the country's influence in international capital markets and trade corridors. As the UAE embarks on a new phase of growth, Emirates NBD will remain a key contributor to the country's vision of being a major player in shaping the future of the global economy."
During his visit, Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, Emirates NBD, briefed Sheikh Hamdan on the Bank's strategic plans. He said the acquisition of DenizBank has positioned Emirates NBD as a banking powerhouse in the Middle East, North Africa and Turkey, MENAT, region. Emirates NBD is today the only bank in the region with a strong pan-regional presence and a growing network across major trade corridors linking Asia, through the Bank's presence in India, Singapore China and Indonesia; with Russia; the MENAT region, through its branches in the UAE, Egypt, KSA, Turkey and Bahrain; and Europe, through its presence in the United Kingdom, Austria and Germany. With a footprint in 13 countries, the Bank services over 14 million customers through around 1,000 branches.
The Managing Director of Emirates NBD outlined the Bank's recent successful initiatives including the move to raise the foreign ownership limit from 5% to 20% and offer valued shareholders an exceptional opportunity to participate in a Rights Issue of AED 6.45 billion. He also touched on the Bank's major achievements including the gain of AED 4.389 million on the partial disposal of a stake in Network International.
Hesham Al Qassim also spoke about how the Bank's strategic initiatives enabled it to record an annual net profit of AED 14.5 billion for 2019 with total assets of more than AED 680 billion (USD 186 billion) and a strong balance sheet that supports a diversified business model.
A leading Bank in the MENAT region, Emirates NBD (DFM: Emirates NBD) is ranked among the top 20 in the Forbes' list of the World's Best Regarded Companies, and has a leading spot among global brands.
The Bank has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry with 94% of all financial transactions and requests conducted outside of its branches. The Bank announced the creation of E20., a digital business bank for entrepreneurs and SMEs while Liv., the lifestyle digital bank for millennials continues to be the fastest growing retail proposition in the UAE. Emirates NBD was named 'Best Digital Bank in the Middle East' at the Euromoney Awards for Excellence in 2019, affirming the Bank's status as a digital banking leader among its regional peers.
The Bank has operations in the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 979 branches and 4,150 ATMs / SDMs. Emirates NBD is the only bank in the Middle East ranked among the top 20 in the 'Power 100 Social Media Rankings', compiled by The Financial Brand for 2019.
Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai.