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Project UniFi is a solution that will streamline financial and information management across the group.

Emirates NBD, the largest banking Group in the Middle East in terms of assets, announced the launch of Project UniFi – an AED 25 million implementation of a world class state-of-the-art ERP (Enterprise Resource Planning) framework based on Oracle eBusiness Suite Release 12.

The project is another landmark in the integration process of Emirates NBD.
The launch of Project UniFi was announced at a gathering attended by H.E. Ahmed Humaid Al Tayer, Chairman of Emirates NBD and more than 150 Emirates NBD executives and staff.

In his address at the launch, H.E. Ahmed Humaid Al Tayer said: “Last year, we set ambitious plans for our integration and I am glad to see that this year we are reaping the results of this planning. Our integration process is gaining pace and reinforcing Emirates NBD’s position as a true UAE Banking Champion. Emirates NBD is committed to lead the region’s banking and finance industry by adopting and establishing best practices and this project is in line with this commitment. I would like to take this opportunity to thank all Emirates NBD shareholders, management, employees and other stakeholders for their commitment and efforts.”

Outlining the vision of this initiative, Mr. Sanjay Uppal, Group Chief Financial Officer, Emirates NBD said: “Project UniFi is a dynamic and innovative technological solution fundamental to Emirates NBD’s integration and a cornerstone for the Group’s aspirations. In the increasingly complex financial markets, this system will be a vital tool to help strengthen governance, controls and enhance shareholder value.”

Project UniFi is the culmination of 18 months of the joint efforts of over 300 staff across Emirates NBD and an investment in excess of AED 25 million. The solution will help strengthen and upscale financial and information management, streamline procurement to payment, property to cash cycles and provide a sustainable framework to support Emirates NBD’s growth ambitions.

Mr. Abdulla Qassem, General Manager, IT, Operations and Administration at Emirates NBD added: “The Oracle eBusiness Suite Release 12 sets the benchmark for technological innovation and its implementation will allow Emirates NBD to build on our success and our position as the bank of choice for the region. It also reflects the integrated approach we are taking as the merger of two of the region’s leading banks goes from strength to strength.”

The announcement of Project UniFi represents the latest in a line of integration milestones achieved by Emirates NBD and follows the recent creation of the Emirates NBD Large Corporate Unit, the launch of the pilot scheme to integrate the bank’s new core banking system and the integration of more than 484 ATM machines. The challenging integration process between the two merged banks is expected to be accomplished during the first quarter of the year 2009.

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About Emirates NBD

Emirates NBD (DFM: ENBD) is the biggest banking group in the Middle East by assets. The Group has a leading retail banking franchise in the UAE, with over 110 branches and over 484 ATMs.

It is a major player in the UAE corporate banking arena, with a combined market share of almost a fifth of corporate loans. It also has strong Islamic banking, investment banking, private banking, asset management and brokerage operations.

The Group has operations in the UAE, the Kingdom of Saudi Arabia, Qatar, the United Kingdom and Jersey (Channel Islands), and representative offices in India, Iran and Singapore.

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