Emirates NBD wins Banker Middle East – Products Award for Best Personal Loan

• Winners selected by poll  of 10,500 financial services professionals
• Emirates NBD builds on 2009 award for Best Retail Bank

Emirates NBD, the largest banking group in the Middle East in terms of assets, announced today that it has won the Banker Middle East – Products Award 2010 in the “Best Personal Loan” category, building on its success in 2009 when it was named Best Retail Bank. Emirates NBD’s Personal Loan was selected as the best from among seven nominees short listed by Banker Middle East from entries received from financial institutions across the Middle East.

Emirates NBD has also been previously recognised for its contribution to financial services by Banker Middle East, when the Chairman, HE Ahmed Humaid Al Tayer, was the recipient of the Lifetime Achievement Award in 2007 and the Group CEO, Rick Pudner, was named “Banker of the Year” in 2008.

“We are pleased to receive the Banker Middle East award for one of our most popular products, at a time when the banking industry in the region is becoming increasingly sophisticated,” said Jamal Bin Ghalaita, Group Deputy CEO, Emirates NBD. “Emirates NBD has a comprehensive suite of financial products to serve the varied needs of our customers. We work closely with our customers to develop products that are tailor made to meet their financial requirements, and this award is a significant recognition of our excellence in the area of product innovation.”

“At Emirates NBD, we believe it is our responsibility to educate our customers to borrow wisely,” said Vikram Krishna, Head – Group Business Marketing, Emirates NBD, who received the award on behalf of the bank at the awards ceremony on April 20, 2010. “As the only bank in the region to have launched a CSR campaign to help customers make informed decisions about personal loans, Emirates NBD encourages customers to do an objective self-assessment of their own repayment capacity before taking a loan.”

“The campaign has been designed to help customers borrow wisely and live within their means. We also offer a seven-day loan return option, should customers decide to change their minds,” he added.

Pointing out that Emirates NBD is the only bank in the region that offers double insurance coverage with its “Enhanced Credit Life insurance,” Krishna said: “With this product, not only is the loan repaid to the bank by the insurance company, but the equivalent amount is also given to the next of kin in the event of unforeseen circumstances.”

Emirates NBD, which recently launched a “Seed Capital Loan” for UAE Nationals in the personal loan category, also offers a range of products and services specially designed to cater to the needs of UAE Nationals.

At the Banker Middle East – Products Award 2010, a total of 23 banks and financial institutions from across the GCC, Levant and North Africa received awards for products in 27 categories. While a panel of judges short listed a maximum of nine entries in each category, the final winner in each category was selected via an online poll of 10,500 financial services practitioners who are registered readers of Banker Middle East magazine.