The National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE, has been named the Best Bank in the UAE by Euromoney magazine for the second year in a row and fourth time in the last ten years.
The London-based publication voted NBAD the Best Bank in the UAE in its Euromoney Awards for Excellence 2010. The Award, which is in its 19th year, is regarded as the benchmark of excellence for financial services companies across the world.
"We are delighted that NBAD has been awarded the Best Bank in the UAE Award especially as it comes during a period of unprecedented market turbulence," said Michael Tomalin, the NBAD's Chief Executive. "Winning this prestigious award two years in a row is a true honour and a valuable recognition of the overall results NBAD has achieved during 2009 in the highly challenging global financial environment."
Despite the financial challenges in the global financial market, NBAD expanded with new businesses, branches and entering new markets such as opening the Bank's branch in Hong Kong in December 2009. NBAD also opened its Amman, Jordan, Branch in January 2010 as a springboard for further expansion in Jordan and the Levant.
"NBAD's business performance is the outcome of the many approaches it adopts with regard to fostering leadership, developing its people, implementing strategy, serving its customers, constantly improving its processes and systems and pursuing corporate social responsibility. Excellent organisations invariably use these factors as enablers to achieve excellent performance." Mr. Tomalin explained.
"We thank Euromoney for this honour, and will pursue the ideals of the Award by continuing to provide our customers and stakeholders with the best services."
Winning the Best Local Bank in the UAE Award adds to a list of 2010 and 2009 credits, including making the list of the World's 50 Safest Banks by Global Finance; Retail Bank of the Year; Best Corporate Governance Award; Best Personal Loan in the Middle East; and 2009 Best Investors Relations Company Award.
In addition, several of the Bank's deals won global recognition. For instance, a series of project financing deals worth $5.55 Billion received four accolades from prestigious international publications.
"NBAD has become one of the leading institutions in the world because this Bank remained prudent. During the past two years of the global financial crisis, NBAD did not completely close the vaults; we remained true to our principles of looking for the right investments. Our financial strength has allowed us to continue doing business in 2009," said Abdulla M.S. AbdulRaheem, the Senior General Manager and Group Chief Operating Officer of NBAD.
"At NBAD, we pledge to provide innovation, pursue efficiency and secure products and services to allow our valued customers to enjoy the most convenient banking experience. Therefore, we are constantly seeking new ways to provide our valued customers with the highest standards of service. Pursuing this approach has made NBAD a leading bank in the UAE and the Middle East financial services industry." Mr. AbdulRaheem said.
Aymen Samawi, the Managing Director of Abu Dhabi Financial Services (ADFS), received the award on behalf of NBAD.
