By Sam Bridge
Dubai banks moves up eight paces to 68th globally in The Banker's annual brand valuation league table
Emirates NBD continues to be the UAE’s most valuable banking brand with a $4.13 billion brand valuation in the latest edition of The Banker’s annual brand valuation league table.
The bank said it also secured a spot among the top 100 global banking brands and was ranked second in the Middle East and Africa region.
Emirates NBD moved up eight spots from last year to rank 68th worldwide in the Brand Finance Banking 500, a ranking of the world’s 500 biggest banks, conducted by consultancy Brand Finance and published in the February edition of The Banker.
“Emirates NBD is deeply proud and honoured to maintain our position as the UAE’s most valuable banking brand,” said Shayne Nelson, group CEO, Emirates NBD.
“Our steadfast commitment to advancing digital innovation, combined with our customer-first philosophy, community-focused initiatives, and market-leading products and services has helped Emirates NBD cement its standing as a frontrunner in the region’s banking sector. As we prepare for Expo 2020 Dubai this year, we will continue to strengthen our proposition to be the bank of choice for customers, employees and shareholders.”
YouGov’s daily brand tracking tool BrandIndex has once again ranked Emirates NBD among the UAE’s 10 most recommended brands. The bank climbed four places to place fifth in the 2019 UAE Advocacy Rankings.
Emirates NBD delivered a robust set of results in 2019, achieving a record net profit of AED14.5 billion and total assets in excess of AED683 billion. The bank’s balance sheet remains strong with healthy liquidity and stable credit quality.
The bank also successfully completed the acquisition of Turkey-based DenizBank in the third quarter of 2019 and increased its presence to 13 countries, servicing over 14 million customers in the MENAT region.