By Staff writer
The Banker ranks Dubai bank 75th worldwide with brand valuation of $3.4bn, up from 96th last year
Emirates NBD has been named the UAE’s most valuable banking brand with a $3.4 billon valuation, according to a new report.
The Banker’s annual brand valuation league table ranked the Dubai bank among the top 100 global banking brands, coming in 75th, up from 96th in 2016.
Last month, the bank announced the launch of Liv., the UAE’s first digital bank targeted at millennials, as part of its planned investment of AED500 million ($136 million) towards digital innovation and multichannel transformation over the next three years.
Hesham Abdulla Al Qassim, vice chairman and managing director, Emirates NBD: “We are honoured to be ranked as the highest valued banking brand in the UAE this year by a prestigious publication such as The Banker.
"In the past year, Emirates NBD has launched campaigns that resonate strongly with our target audience and we feel rewarded to be recognised for our successful efforts.
"Going forward, we will continue to engage with our core audience and enhance the Emirates NBD brand with our focus on customer-centricity and our drive to offer our customers a new age, superior and a 24x7 accessible customer experience.”
In addition to its brand engagement, the bank delivered a solid set of results for 2016 with net profit up 2 percent from 2015 to AED7.24 billion, driven by asset growth and higher recoveries which helped offset lower non-interest income.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.