Emirates NBD recognized as best retail bank in the Middle East

By Rahul Vaimal, Associate Editor
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Emirates NBD
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Emirates NBD, one of the largest banking groups in the Middle East has been recognized for its retail banking leadership at The Asian Banker Excellence in Retail Financial Services 2020 international awards program.

The Dubai government-owned bank is awarded as the Best Retail Bank in the Middle East and the UAE for the fourth continuous year and the digital lifestyle bank of Emirates NBD known as Liv. was honored as the Best Digital Bank in the region for the third consecutive time.

In 2019, the Retail Banking division of Emirates NBD posted strong revenue growth, gaining market share in most retail products and segments. The banking group initiated several new products including the Emirates NBD Lulu 247 Mastercard and the updated Emirates NBD Marriott Bonvoy Credit Card while the Priority Banking and Business Banking brand propositions were refreshed.

As part of its mission to help SME customers, the Emirates NBD Expo 2020 Dubai Account was launched with preferential pricing and privileges. The Better Together platform was set up in line with its customer service development program which targets to provide solutions that will help customers carry out their financial aspirations.

Emirates NBD’s digitization agenda helps customers easily open accounts through their smartphones and to receive account and card updates on their Amazon Alexa devices, Voice banking was also initiated. Besides Smart Pass a two-factor authentication soft token based transaction authorization feature was extended to all customers.

The lifestyle digital bank Liv. continued to be the fastest-growing retail scheme in the UAE, utilized by more than 400,000 customers. Liv. enhanced its product suite by introducing a digital credit card proposition and a personal loan offering. The banking service marked its expansion into the second market as the proposition was extended to KSA.

Suvo Sarkar, Senior Executive Vice President and Head of Retail Banking & Wealth Management of Emirates NBD, expressing their gratitude for this recognition stated that “the awards are a testament to our customer-first philosophy and continued commitment to advancing digital banking innovation. “

Asian Banker Award

One of the most prominent and transparent award programs for consumer financial services, the Asian Banker awards were started in 2002. The program recognizes financial institutions for their vision, execution and market-leading propositions that make a real impact on their business and the local consumers.