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SUCCESS STORY Emirates NBD: Successful entry into Saudi Arabia
which it achieved in 1994. Over the years, the bank consolidated its international operations and sold businesses in some nations that were no longer considered strategic. This has helped maintain its focus on key destinations and chalk out future ones, one of which includes a planned presence in Beijing, China.
Emirates NBD achieved a milestone task in the year 2004 by establishing the very first foreign bank offering full-fledged banking services in Saudi Arabia. This involved passing through a strict selection process to qualify for a banking license to enter this lucrative economy. The group had to take on the challenges of being a pioneer in this market as the laws and regulations drafted for a foreign bank were still in the beginning stages. However, Emirates NBD successfully accomplished the task of taking its UAE success further through implementing its policies of customer focus and service excellence in banking. Since opening its branch in Riyadh, the bank>s business has grown significantly and now represents a key part of the group’s future strategy.
Emirates NBD’s strong Investment, Retail and Private Banking Services, coupled with leadership in Asset Management products, has enabled the group to deliver outstanding value to its shareholders, customers and employees. The group has consistently been recognised with several prominent awards including the Mohammed bin Rashid Al Maktoum Business Award for Finance; Best Bank in the UAE by Global Finance in 2009 and Best Retail Bank in the UAE by The Banker Magazine. What’s more, Emirates NBD has received numerous accolades from leading international agencies, such as the Products Award for Best Personal Loan 2010 by The Banker Middle East; Best Private Bank in the UAE at the Euromoney Private Banking survey for 2010; Number One Banking Brand in the Middle East 2010 by The Banker Magazine; and the 2010 Financial Sector Technology (FST London) award for ‘Systems Integration Project of the Year’.
Success stories of 110 UAE - based international investors