Fatma Rashed Salem
Emirates National Bank of Dubai
News Release FOR IMMEDIATE RELEASE
FOR MORE INFORMAMTION:
June 30, 2011
Sulaiman Al Mazroui General Manager, Group Corporate Communications 00971 4 316 0318
DUBAI, Jun.29- Sheikh Ahmed bin Saeed Al Maktoum was appointed as Chairman of Emirates NBD, the UAE's largest bank, replacing Ahmed Humaid Al Tayer as chairman. A new deputy chairman and three new board members will also be appointed. The decision was made by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. Mr. Al Tayer, the outgoing chairman was appointed in 2007. He retains his position as Governor of the Dubai International Financial Center (DIFC). Sheikh Ahmed chairs large number of companies such as, Investment Corporation of Dubai (ICD), Dubai Civil Aviation, Dubai Supreme Fiscal Committee and Emirates Airline.The second half of 2011 brings lots of main changes among the top levels of the UAEâ€™s corporations. Specially, Sheikh Ahmed Bin Mohammed Bin Rashid as he was appointed as a chairman of Noor Islamic Bank.
Fatma Rashed Salem
Emirates NBD has had tough situation for the past few years as it was forced to set aside large amounts of capital to cope with the aftermath of Dubai World's restructuring; although analysts said the bank had overcome the crisis well. The new chairman and members of NBD’s board held a meeting today to review the bank’s strategic plans and performance for this year and the future. “I would like to take this opportunity during the first meeting of the new board of directors to extend my sincere thanks and gratitude to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, for his valuable confidence and insightful vision. I would also like to extend my thanks and appreciation to the former chairman and members of the board of directors at the bank for their dedicated and sincere efforts.” Sheikh Ahmed said. Emirates NBD's stock rose 0.73 per cent to Dh4.13 a share following the announcement, changing the trend on local bourses, with the Dubai Financial Market falling 1.06 per cent to 1,521.15. The bank, 39.03 per cent of which is publicly traded, is 55.64 per cent owned by ICD. Emirates NBD, the leading banking group in the region, was formed on 16th of October 2007 as a result of the merger between Emirates Bank International (EBI) and the National Bank of Dubai (NBD). It has the largest asset base in the GCC region summing up to AED 281.6 billion as at 31st December 2009, capable of delivering enhanced value across corporate, retail, Islamic and investment banking throughout the Gulf Cooperation Council (GCC) region.
Fatma Rashed Salem
Notes to the editor : Emirates NBD, the leading banking group in the region was formed on 16th of October 2007 when the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The Emirates NBD 2007 merger between Emirates Bank International (EBI) and the National Bank of Dubai (NBD), became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the United Arab Emirates (UAE) to form a banking champion with the largest asset base in the GCC region summing up to AED 281.6 billion as at 31st December 2009, capable of delivering enhanced value across corporate, retail, Islamic and investment banking throughout the Gulf Cooperation Council (GCC) region. The Group has operations in the UAE, the Kingdom of Saudi Arabia, Qatar, the United Kingdom and Jersey (Channel Islands), and representative offices in India, Iran and Singapore. Currently, more than 7.000 employees from over 50 nationalities are employed by Emirates NBD, making it one of the largest and most culturally diversified employers in the UAE. As a National banking champion, Emirates NBD is an ambassador of economic and social progress for the entire UAE to the world. Emirates NBD received many prominent awards over the years. In 2010 it was crowned with the following awards:
Banker Middle East Award 2010 in the Best Use of Technology Banker Middle East - Products Award for Best Personal Loan Best Private Bank in the UAE at the Euromoney Private Banking survey for 2010 The number one banking brand in the Middle East by The Banker 2010 Financial Sector Technology (FST London) award for "Systems Integration Project of the Year". Sh. Mohammed bin Rashid Al Maktoum "Supporters of the Arts Award"