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Eye of Dubai
Business & Money | Monday 19 June, 2023 2:07 pm |
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Emirates NBD celebrates 60-year journey from homegrown UAE bank to international banking brand

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, marks a significant milestone this year, with the bank celebrating its 60th anniversary. The landmark occasion also marks the bank’s journey and tremendous progress from a homegrown local bank to a homegrown international bank, employing over 30,000 people across its markets and serving over 17 million customers in 13 countries. 

 

 

 

Following the theme of ‘60 years together’, the bank has a series of festive events planned to mark the historic milestone, aiming to bring together all its stakeholders including employees, customers, the community and shareholders. To commemorate the milestone, the bank has also unveiled a special logo, to be used on all bank communications through the anniversary year. 

 

 

 

Emirates NBD has made significant strides over the past six decades, transforming from a local UAE bank to an international banking brand, with a rich legacy and landmark achievements across key pillars. 

 

 

 

Commenting on the milestone, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD said: “Emirates NBD has played a pivotal role in supporting the growing economic prosperity of the UAE and its communities over the years. 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.” 

 

 

 

“We take this opportunity to extend our gratitude to HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for his inspiring vision and wise leadership, which has enabled Dubai and the UAE to become a leading player in the global financial services sector. We would also like to thank our loyal and valued shareholders and customers, dedicated employees and the community, who have played a significant role in our continuing success.”

 

 

 

His Highness added, “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.” 

 

 

 

Geographical expansion across global trade corridors

 

Emirates NBD emerged following the merger between National Bank of Dubai and Emirates Bank International which was completed in 2007. Its legacy spans six decades to the historic day in 1963, when late Sultan Al Owais and a leading group of merchants approached the late Ruler of Dubai, Sheikh Rashid bin Saeed Al Maktoum, to set up the first national bank in the country. National Bank of Dubai was born to support the growing prosperity in the emirate following the discovery of oil.

 

 

 

Sixty years and several transformations later, the entity, which began with one branch and a handful of clients, has become a leading banking group in the UAE, serving over 17 million customers in 13 countries. 

 

 

 

International growth and diversification has remained one of the core pillars of Emirates NBD’s strategy as it aims to capitalise on key opportunities across its unique network. The Group currently has operations in the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, and Bahrain and representative offices in China and Indonesia with a total of 879 branches and 4,130 ATMs / SDMs.  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.

 

 

 

Leading on Emiratisation

 

Emirates NBD has always been firmly committed to supporting the advancement of UAE nationals in the financial and banking sector in alignment with the UAE government’s Emiratisation goals. 

 

 

 

Over the years, the bank has led the way on Emiratisation by significantly investing in upskilling, re-skilling and developing Emiratis though international training and development programmes. The bank is proud to be among the UAE’s largest employers of Emiratis and currently 70% of the bank’s senior management team in the UAE are Emiratis.

 

 

 

Partner to the UAE economy

 

As a leading local bank, Emirates NBD has continued to finance the economy of the UAE and contribute to the long-term economic growth and development of the region. The bank enables job creation, drives value for UAE businesses and serves as an active participant and supporter of the country’s vital sectors and sustainability initiatives. Emirates NBD continues to work hand-in-hand with the UAE’s government, regulators and the private sector to boost the nation’s global standing as a key global investment hub.

 

 

 

Moreover, as a national banking champion, the bank has always supported the needs of homegrown SMEs that contribute to the UAE economy and continues to introduce compelling value propositions to further the growth and ambitions of small businesses and entrepreneurs. 

 

 

 

Digital

 

As a leading local bank that has always been committed to driving innovation in the region, Emirates NBD leads the future of digital banking to enhance financial prosperity for its customers, people and communities. The bank holds a solid track record of pioneering several first-to-market innovations and digital-first banking solutions that simplify and deliver positive change to the lives of customers.

 

 

 

As a digital pioneer that has led innovation in the region’s banking sector, Emirates NBD is deeply committed to technological advancement and focuses on offering innovative digital banking services that are both inclusive and environmentally responsible. The bank continues to provide technology driven banking solutions which are tailored to client needs and are at pace with this evolving digital world. It is a key participant in the global digital banking industry with 84% of its customers becoming digitally active and 97% of all financial transactions and requests conducted outside of its branches. 

 

 

 

Sustainability

 

Emirates NBD's sustainable and responsible business practices have a direct, meaningful impact on the communities it serves, and the bank continues to lead the way in building more inclusive and empowered communities. 

 

 

 

Among Emirates NBD’s key sustainability milestones, its new, independent ESG Department marks an important step towards further advancing its ESG strategy and framework. The bank has joined the list of signatories of the United Nations Global Compact initiative to implement universal sustainability principles and the United Nations Principles of Responsible Investment, the leading global network for investors committed to integrating ESG considerations into their investment practices. It has also developed its own Wealth Management and Sustainable Investment Framework.

 

 

 

As the bank embarks on its sustainability journey, it continues to bolster its position as an innovative and responsible financial services provider with the aim of integrating ESG best practices into all aspects of its business.

 

 

 

Focus on diversity and inclusion 

 

Emirates NBD is proud to have a dedicated Diversity and Inclusion department to further enhance and celebrate the bank’s diversity, which already boasts more than 85 nationalities working across 13 countries. The bank's operations include a 40 percent female workforce that is well above the global benchmark for financial services.

 

 

 

The bank aims to continue focusing on gender diversity across the organisation. It has collaborated and partnered with various organisations such as UN Women, Dubai Chamber, UAE Gender Balance Council, Pearl Initiative, etc. to deliver gender balance policies across the bank and thus, build a pathway for women’s professional growth and development. Several activities have been launched to facilitate networking and promoting physical as well as mental well-being of women within the organisation. These activities aim at creating the right ethos for women and the Group is well in course of achieving its target of 25% women in senior leadership roles by 2027. 

 

 

 

 

 

-Ends-

 

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