Emirates NBD recorded a strong performance in retail banking in 2019 with significant growth in revenue and profit that allowed the bank to retain its first position among other peers in the Middle East.
October 13, 2020 | Sana L’ouahidiEmirates NBD was awarded Best Retail Bank in the Middle East at The Asian Banker International Excellence in Retail Financial Services Awards programme 2020.
Significant steps were taken in this year’s assessment of the Best Retail Bank in the Middle East to ensure that the programme remains the most rigorous, comprehensive and transparent of its kind in the financial services industry. In addition, it also incorporated customer derived net promoter score-based ratings from the BankQuality consumer survey on retail banks and how they helped customers during the COVID-19 pandemic.
Based on the evaluation scorecard, Emirates NBD scored high in digital journey, financial performance, sales, customer service, and process/technology management.
Bank’s focus on digital strategy and enhanced customer experience let to business improvement in 2019
Figure1:Emirates NBD recorded strong financial performance and scored the highest in Digital Journey and customer experience compared to its peers.
In the Middle East, the financial services sector has seen numerous changes and reforms, reflected by a competitive banking landscape where banks are increasingly searching to gain scale and stay competitive. Banks in the region, including United Arab Emirates (UAE), are going through consolidation by creating bigger banks to guarantee profitability in medium and long-term progress. Emirates NBD is one of the largest banking groups in the Middle East by assets after First Abu Dhabi Bank (FAB). FAB is focusing on serving UAE corporates while Emirates NBD focuses on developing its digital strategy to significantly enhance the customer experience.
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