In the United Arab Emirates, banks have become more competitive in retaining their customers as a result of new regulations, while the rest are developing their individual strengths gained from their own customer experiences. The experiences of National Bank of Abu Dhabi and Abu Dhabi Commercial Bank illustrate how banks have adapted their strategies to new developments in the banking sector.
February 03, 2016 | Shenming WangThe banking industry in the United Arab Emirates (UAE) is moving towards recovery from the economic slowdown of previous years. In 2014, the UAE central bank revised early settlement charges downward to 1% of total outstanding, and banks started to implement shorter processing times for loan approval. Under the stimulus measures and with strong foreign direct investment (FDI) as well as local regulations firmly observed, we project the growth of retail loans in the UAE to have risen 15% from 2013 to 2014.
National Bank of Abu Dhabi
Retail operations of the National Bank of Abu Dhabi (NBAD) have been growing steadily over the last few years, with retail income increasing from 1.9 billion UAE dirham (AED) ($0.44 billion) in 2012, to AED3.09 billion ($1.19 billion) in 2013; and further to AED3.34 billion ($1.1 billion) in 2014. In 2013, the bank’s global retail and commercial operations earned revenues of AED3.34 billion ($1.1 billion). It posted AED1.22 billion ($0.33 billion) in net profit, which accounted for more than one-fourth of the group’s operating profit for 2013. Retail and commercial operations again exhibited strong performance in 2014, with revenues up 8% and net profits by 11%, reflecting continued strength in retail loans and deposits in the region (Figure 1).
NBAD’s strong financial performance is a result of changes in the strategy and structure of its global retail and commercial business
Changes in the strategy and structure of NBAD’s global retail and commercial business were largely responsible for the bank’s strong retail performance. The bank moved towards providing a more seamless customer experience across all channels such as branches, call centres, internet se...
Categories:
Retail Banking, Technology & OperationsKeywords:UAE, NBAD, ADCB, Retail Banking, Retail Performance, Loans, Personal Loans, Retail Loans, Online Banking, Mobile Banking, Credit Cards, Technology
In the United Arab Emirates, banks have become more competitive in retaining their customers as a result of new regulations, while the rest are developing their individual strengths gained from their own customer experiences. The experiences of National Bank of Abu Dhabi and Abu Dhabi Commercial Bank illustrate how banks have adapted their strategies to new developments in the banking sector.
February 03, 2016 | Shenming WangThe banking industry in the United Arab Emirates (UAE) is moving towards recovery from the economic slowdown of previous years. In 2014, the UAE central bank revised early settlement charges downward to 1% of total outstanding, and banks started to implement shorter processing times for loan approval. Under the stimulus measures and with strong foreign direct investment (FDI) as well as local regulations firmly observed, we project the growth of retail loans in the UAE to have risen 15% from 2013 to 2014.
National Bank of Abu Dhabi
Retail operations of the National Bank of Abu Dhabi (NBAD) have been growing steadily over the last few years, with retail income increasing from 1.9 billion UAE dirham (AED) ($0.44 billion) in 2012, to AED3.09 billion ($1.19 billion) in 2013; and further to AED3.34 billion ($1.1 billion) in 2014. In 2013, the bank’s global retail and commercial operations earned revenues of AED3.34 billion ($1.1 billion). It posted AED1.22 billion ($0.33 billion) in net profit, which accounted for more than one-fourth of the group’s operating profit for 2013. Retail and commercial operations again exhibited strong performance in 2014, with revenues up 8% and net profits by 11%, reflecting continued strength in retail loans and deposits in the region (Figure 1).
NBAD’s strong financial performance is a result of changes in the strategy and structure of its global retail and commercial business
Changes in the strategy and structure of NBAD’s global retail and commercial business were largely responsible for the bank’s strong retail performance. The bank moved towards providing a more seamless customer experience across all channels such as branches, call centres, internet se...
Categories:
Retail Banking, Technology & OperationsKeywords:UAE, NBAD, ADCB, Retail Banking, Retail Performance, Loans, Personal Loans, Retail Loans, Online Banking, Mobile Banking, Credit Cards, Technology
