Euromoney names NBAD Best Bank in the UAE

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,  the prestigious international publication which covers international banking, finance and global markets.

Euromoney Awards for Excellence, regarded as the benchmark awards for financial services globally, rated NBAD the Best Bank in the UAE. This is the fifth time in 10 years and the third consecutive year that NBAD has won this title.

“Winning this award five times in a decade confirms that NBAD is the Number One Bank in the UAE and that our commitment to excellence, focus on serving customers, and executing wise business practices bear results for all our stakeholders,” said Michael H. Tomalin, the Group Chief Executive of NBAD.

“I thank Euromoney for their award which makes all of us in NBAD feel very proud. I also thank NBAD staff for their commitment to uphold NBAD’s customer-centric values and in supporting the Bank’s mission to provide our customers products and services of enduring values to help our customers grow.”

NBAD has also been rated one of the 50 Safest Banks in the World in 2009 and 2010 by Global Finance.

NBAD is the first UAE bank to break the US$1 billion net profits as it earned AED3,683 million ($1.003 billion) in 2010. In 2004, NBAD became the first UAE bank to earn more than AED1 billion in annual net profits.

Between 2000 and 2010, NBAD’s net profit has grown seven fold increasing at an average annual growth rate of around 22% year-on-year making it one of the fastest growing and highest performing banks in the wider Middle East region.

NBAD has a written and active social sustainability and responsibility (CSR) mission, which forms an important element of the Bank's overall strategy. In 2010, NBAD became the first UAE bank and among one of the few Arab companies to begin publishing its annual Sustainability Report. The Bank was recently named in the Pan-Middle East Award the Best Corporate Social Responsibility (CSR) programme by the prestigious emeafinance magazine.

NBAD is committed to supporting Abu Dhabi Vision 2030, which provides the blueprint for sustainable growth to make Abu Dhabi a global destination for learning, culture and commerce.

Saif Al Shehhi, the Senior General Manager of Domestic Banking Division at NBAD and Abdulla Ghobash, NBAD’s Regional Manager in the Northern Emirates received the award at a glittering award ceremony in Dubai.