Shayne Nelson will soon celebrate four decades in the banking industry and what better way to do so than as the CEO of Dubai’s largest bank. Emirates NBD may have lost its rank as the biggest in the country thanks to merger of National Abu Dhabi Bank and First Gulf Bank, but analysts are confident that under Nelson’s leadership, it will continue to out perform.
Emirates NBD is in the unique position of being the Dubai government’s bank of choice and it will continue to finance infrastructure projects ahead of Expo2020. The bank said its profit rose 5.8 percent in the second quarter, due to higher loan rates, tighter expenses and lower provision costs.
It remains at the forefront of digital banking, announcing that it would use savings from last year to invest about $300m into digital technology over the next three years.