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Global Finance, the prestigious financial magazine, named the National Bank of Abu Dhabi (NBAD) the Best Bank in the UAE in its Best Emerging Markets Banks 2013 ranking.
Global Finance selected NBAD the Best Bank in the UAE based on input from industry analysts, corporate executives and banking consultants. The criteria to choose the winners in the 12 MENA countries included growth in assets, profitability, strategic relationship, customer service, competitive pricing and innovative products.
NBAD, along with other winners in each perspective country, is the most effective financial institution in meeting customers’ demands and needs and coping with challenges in its market, according to Global Finance.
“Each region and individual country presents unique challenges for banks and their customers, especially under the difficult conditions global financial markets continue to face,” says Joseph Giarraputo, publisher of Global Finance. “For this reason, customers must depend on excellence in execution from their banking partners. These are the banks that are providing best-in-class solutions for these distinctive markets.”
Michael H. Tomalin, the Group Chief Executive of NBAD, says: “This coveted endorsement confirms NBAD’s commitment to our esteemed clients and customers, shareholders, and the communities we are active in. I would like to state that our financial success is directly correlated to NBAD’s mission, values and pledge to provide exceptional service to our customers, to help them grow, to value our stakeholders, and to invest in our future.”
Mr. Tomalin continues: “We are thankful to Global Finance for providing a ranking of top banks in emerging markets, which provides a gauge of success and achievements for the industry.”
In 2012 NBAD’s total annual assets increased 17.6% to over AED300 billion; and it earned AED4.332 billion, an increase of 16.8% from 2011.
NBAD is also ranked one of the World’s 50 Safest Banks by Global Finance, a distinction it has kept since 2009. It is the highest ranked Middle East Bank in the list, which serves as a trusted standard of the financial strength and credit worthiness of a bank.
“NBAD’s strategic expansion and growth as well as our commitment to serve shareholders and clients have allowed us to achieve outstanding growth and return on invested capital and also earned exceptional value for the NBAD brand, as confirmed by international accolades and recognition,” says Abdulla M.S. AbdulRaheem, the Deputy Group Chief Executive of NBAD. “NBAD will continue to invest capital and strengthen our strategies to achieve our global ambitions and be recognized as the World’s Best Arab Bank.”
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