- Awarded Best Retail Bank in the Middle East for the fourth time in recent years
- Liv. recognized as Best Digital Bank in the Middle East for third consecutive year
Dubai, UAE: Emirates NBD, a leading bank in the MENAT (Middle East, North Africa and Turkey) has won top honours for its retail banking leadership at The Asian Banker Excellence in Retail Financial Services 2020 international awards program.
The bank was recognized as the Best Retail Bank in the Middle East and the UAE for the fourth year in a row, while Emirates NBD’s digital lifestyle bank, Liv. was recognised as the Best Digital Bank in the Middle East and the UAE for the third consecutive time.
The bank’s Retail Banking division registered robust growth in revenues in 2019, gaining market share across most retail products and segments. Several new products were rolled out, such as the Emirates NBD Lulu 247 Mastercard and the revamped Emirates NBD Marriott Bonvoy Credit Card while the Priority Banking and Business Banking brand propositions were refreshed. The Emirates NBD Expo 2020 Dubai Account was introduced for SME customers, with preferential pricing and privileges. The Better Together platform was set up to bring together a panel of customers to support with co-creating and beta testing new solutions.
The division continued to advance its digitization agenda enabling customers to open accounts instantly from their smartphones. Emirates NBD Voice Banking was launched enabling customers to obtain account and card updates on their Amazon Alexa devices. In addition, Smart Pass, a two-factor authentication soft token based transaction authorization feature was extended to all customers.
Liv., the lifestyle digital bank for millennials continued to be the fastest growing retail proposition in the UAE, reaching a base of over 400,000 customers. Liv. enhanced its product suite by introducing a digital credit card proposition and a personal loan offering. The mobile-only bank’s new landing page was also enhanced to allow customers to carry out travel, cinema, restaurant and entertainment bookings. Liv. also marked expansion into its second market as the proposition was extended to KSA.
Commenting on the win, Suvo Sarkar, Senior Executive Vice President and Head of Retail Banking & Wealth Management, Emirates NBD, said: “We are honoured to be recognised as the national and regional champion of retail banking at the prestigious Asian Banker awards. The awards are testament to our customer-first philosophy and continued commitment to advancing digital banking innovation. I would like to express our sincere gratitude to all our customers whose unstinting patronage and support is helping us achieve these distinctions.”
The Asian Banker awards is considered one of the most prestigious and transparent award programmes for consumer financial services. Since its commencement in 2002, the programme has recognised financial institutions for their vision, execution and market leading propositions that make a real impact to their business and the local consumers. Administered by The Asian Banker and refereed by prominent global bankers, consultants and academics, winners are chosen following a stringent three-month evaluation process based on a balanced and transparent scorecard.
About Emirates NBD:
Emirates NBD (DFM: Emirates NBD) is a leading Banking Group in the MENAT region. As at 30th September 2020, total assets were AED 692 Billion, (equivalent to approx. USD 188 Billion). The acquisition of DenizBank represents a significant milestone for Emirates NBD with the Bank expanding its presence to 13 countries, servicing over 14 million customers. The Bank is ranked among the top 20 in the Forbes’ list of the World’s Best Regarded Companies, securing 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 continued to be the fastest growing retail proposition in the UAE. Emirates NBD was named “UAE’s Best Bank” in 2020 for a fifth consecutive year by Euromoney. In addition, Emirates NBD received the “Excellence in Leadership in the Middle East” award, introduced this year in light of the Covid-19 impact, as a recognition of its efforts in responding to the Covid-19 crisis.
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 925 branches and 4,115 ATMs / SDMs. The Bank has a large social media following, being 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 is a major player in the UAE corporate segment and has strong Islamic banking, investment banking, private banking, asset management, global markets & treasury and brokerage operations.Emirates NBD is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. The Bank is recognised for the pioneering efforts in employee volunteering and corporate social responsibility by IMPACT2030, the corporate volunteering arm of the United Nations. Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai.