Shayne Nelson, Group CEO, Emirates NBD
Emirates NBD, a leading financial institution in the Middle East, announced today that it has recently won three prestigious awards at Asian Banker’s third Annual Middle East and Africa Awards ceremony.
The bank was named as winner for the Achievement in Credit Risk Management award 2015 at the Asian Banker Risk Management Awards Programme for the Middle East & Africa. In addition, the bank won the ‘Best Trade Finance Bank in the UAE 2015 award’, while Emirates NBD Egypt won the ‘Best Cash Management and Trade Finance Bank Award in Egypt for 2015’.
Commenting on the triple win, Shayne Nelson, Group CEO, Emirates NBD said: “Winning three prestigious awards from the Asian Banker is an honour and a significant recognition of Emirates NBD’s robust standing in the industry. I would like to take this opportunity to recognise the efforts of the teams involved: Group Risk, led by General Manager, Manoj Chawla; Group Transaction Banking, headed by Executive Vice-President, Samir Sahu; and our fast-growing Egypt business led by Egypt CEO, Giel-Jan Van Der Tol.
Key Highlights of the awards:
Achievement in Credit Risk Management 2015
The bank was commended for its integrated stress testing framework which encompasses the forward-looking assessment of economic scenarios,an added bonus especially with the unpredictable financial environment today. Moreover, maintaining a structured management framework for consumer banking risk management enables Emirates NBD to identify and evaluate the significance of all credit risks that the bank can potentially face. The risk team has also introduced an early warning process used proactively for portfolio management that allows the bank to detect weaknesses related to customer credit worthiness as well as the monitoring of market related risks. The effectiveness of the bank’s initiatives to change the culture of the bank on their first line of defense can be seen in their Total Capital and Tier 1 Capital ratios.
Best Trade Finance Bank in the UAE 2015
Emirates NBD transaction banking business experienced growth in both cash management and trade finance this year, with a 13% growth in revenue and over 10% in market portion of trade finance business in regards to SWIFT messaging. Emirates NBD remains one of the primary banks in cash management and trade finance for its expanding customer base offering a rich product offering in trade finance including liquidity management, import/export factoring and advanced trade portal. The bank’s smartBUSINESS online platform provides corporates with a single sign in for both cash management and trade services.
Best Cash Management and Trade Finance Bank Award in Egypt for 2015
This prestigious accolade recognises Emirates NBD Egypt as a national leader in providing cash management and trade finance services. Asian Banker’s judging panel praised the breadth and level of customisation of Emirates NBD Egypt’s cash management and trade finance solutions. Also commended was the bank’s focus on pioneering online service options for both cash management and trade finance, and which have now been taken up by over 65 per cent of corporate clients.