Dubai, once a small fishing village, has emerged as a major cosmopolitan financial hub. It is frequently recognized as the Middle East’s top entrepôt and is often compared to Singapore and Hong Kong. Oil money accelerated the growth of the city, which was already a significant commercial centre. Since the early 20th century, Dubai has served as a hub for regional and global trade. Dubai’s economy is fueled by trade, tourism, aviation, real estate, and financial services. In 2018, the emirate’s GDP from oil output was less than 1%. On June 19, 1963, Emirates NBD was established, becoming the dominant banking group in the MENAT (Middle East, North Africa and Turkey) region. The bank exists in 13 countries and has more than 14 million customers. This article is about Emirates NBD, the best bank in Dubai and one of the international banks in Dubai.
Emirates NBD had total assets of AED 694 billion as of March 31st, 2022. (equivalent to approx. USD 189 billion). With a total of 901 branches and 4,060 ATMs / SDMs, the Group operates through representative offices in China and Indonesia, as well as in the United Arab Emirates, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia, and Bahrain.
The Group has a sizable social media following and is the only bank in the Middle East to be listed in The Financial Brand’s top 20 “Power 100 Social Media Rankings” for 2019. The Emirates NBD Group offers a variety of financial products and services, including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, brokerage, and business operations to clients, organizations, enterprises, governments, and governments.
On March 6, 2007, NBD and Emirates Bank International (EBI) amalgamated to establish Emirates NBD, the region’s largest banking group by assets. On October 16, 2007, Emirates NBD’s shares were formally introduced on the Dubai Financial Market (DFM). The combination of the second and fourth largest banks in the UAE to form Emirates NBD, a banking champion capable of delivering increased value across Corporate, Retail, Islamic, Investment, and Private Banking, Global Markets & Treasury, Asset Management, and Brokerage operations throughout the region, became a regional consolidation blueprint for the banking and finance sector.
The Group is a key player in the global digital banking market, with 94% of all financial requests and transactions taking place outside of its branches. The Group also runs Liv, a lifestyle digital bank for millennials, and E20, a digital business bank for entrepreneurs and SMEs. The primary development and sustainability efforts in the UAE, including financial literacy and the inclusion of individuals with disabilities, are actively supported and participated in by Emirates NBD.
For the eighth year in a row, the Euromoney Awards for Excellence 2021 named Emirates NBD “Best Bank in the UAE” and “Best Bank in the Middle East.” At the 2021 Bank of the Year Awards, The Banker named Emirates NBD “Bank of the Year – UAE” for the sixth consecutive year. In addition, as a reward for its efforts in addressing the Covid-19 problem, Emirates NBD was given the “Excellence in Leadership in the Middle East” award, which was established in 2020 considering the effect of Covid-19, in 2020. Forbes’ list of the Top 100 Middle Eastern firms for 2021 placed Emirates NBD at number five. According to The Banker’s ranking of the top 1,000 banks in the world for 2021, the Bank is rated 95th overall. Aside from that, According to The Asian Banker 500 Largest and Strongest Banks Rankings, Emirates NBD is the “Strongest Bank in the UAE” and the “Fifth Strongest Bank in the Middle East.”
To ask any questions related to the rights of NRIs, PIOs, and OCIs, you can download SBNRI App from the Google Play Store or App Store. You can also use the SBNRI app for investment in stock market/ mutual funds, NRI account opening, tax filing, etc. To ask any questions, click on the button below. Also, visit our blog and YouTube channel for more details.
FAQs
National Bank of Dubai.
In 2007.
Emirates NBD was established In 1963.
In the United Arab Emirates, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia, and Bahrain, as well as through representative offices in China and Indonesia.
