Emirates NBD wins Best Automobile Lending Business award for 2015

Press release

Published April 14th, 2015 - 11:14 GMT

Emirates NBD

Emirates NBD won the Best Automobile Lending Business award for 2015. The bank received the award at The Asian Banker’s International Excellence in Retail Financial Services 2015 Awards ceremony, held in conjunction with the region’s most prestigious retail banking event, the Excellence in Retail Financial Services Convention.

In a highly saturated market, Emirates NBD differentiated itself by achieving customer satisfaction through a competitive turnaround time. Its enhanced process attracted new customers that have greatly boosted the bank’s market share in the Middle East region where auto loans are mostly sold on pricing.

In order to meet the requirement for a faster turnaround, Emirates NBD completely transformed its auto loan product between 2011 and 2012. Through process engineering where the bank reviewed and revamped all existing process flows using a LEAN approach, Emirates NBD was able to improve turnaround time by up to 70%.

With most business originating from dealerships, the bank focused on dealer relationship management and handled them with a centralised team. It became one of the few banks in the region to launch a dedicated dealer loyalty programme, ‘STAR TRACK’, which resulted in greater dealer engagement.

As dealers participated with greater dedication, they were able to earn multiple awards based on their sales volume, year-on-year growth and portfolio quality with the bank.

Apart from product and process innovation, Emirates NBD aimed to further improve offers for customers and carried out comprehensive campaigns to offer them exclusive deals with premium brands. Through all key parameters, the bank successfully delivered solid results to stakeholders with significant increase in market share amongst more than 30 auto lending players with one of the largest auto lending books in the market.

About 200 senior bankers from award-winning banks in 29 countries across the Asia Pacific, the Middle East, Central Asia and Africa attended the glittering event that recognised their efforts in bringing superior products and services to their customers. The awards programme, administered by The Asian Banker and refereed by prominent global bankers, consultants and academics, is the most prestigious of its kind.

Background Information

Emirates NBD

Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.