Emaar names its new financial entity Dubai Bank
The new bank to be launched by Emaar Properties later this year will be named Dubai Bank. Announcing the launch of the name and the logo, Chairman of Emaar Properties Mohamed Ali Alabbar said: “The name reflects the bank’s positioning as one of the key drivers of the financial sector in Dubai. Our vision is to build an iconic status for the bank and its association with the success of Dubai.”
“Dubai is a city with enormous potential for growth and we believe that Dubai Bank will help to establish the financial landscape for the future. We are very proud to announce the name and identity of Dubai Bank which was chosen after extensive research to be synonymous with the modernity, innovation and excellence that Dubai stands for,” Alabbar added.
“Currently the United Arab Emirates (UAE) banking sector consists of 47 local, regional and international companies which are sometimes seen as price-driven and offer unclear commission structures. The opportunity for Dubai Bank therefore lies in establishing credibility, trust and reliability and introducing innovative products and services backed by superior customer support,” said Ahmed Bin Brek, the Bank’s chief executive.
Dubai Bank will be involved in all aspects of the banking business and offer products and services for both individual consumers and corporations. This will be implemented through a number of different delivery vehicles, including traditional branches and remote banking facilities such as the internet.
Emaar Properties, a public joint stock company listed on the Dubai Financial Market, currently has five major real estate projects under development. “The new bank is in total conformity with Emaar’s core real estate focus, which aims at optimizing the investment of group resources, while actively diversifying the sources of its revenues,” a company statement read. — (menareport.com)
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