UAE lenders improve rankings in global list

Dubai - The other four UAE banks that secured spots among the top 200 banks in the list include National Bank of Abu Dhabi (NBAD), First Gulf Bank (FGB), Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank (DIB).

 Five UAE banks led by Emirates NBD have improved their global rankings and brand values in The Banker's annual brand valuation list for 2016.
Emirates NBD has secured the spot among the top 100 global banking brands with a brand valuation of $2.186 billion. The valuation ranks Emirates NBD as the UAE's most valuable banking brand with a 23 per cent increase in brand valuation from 2015.
The other four UAE banks that secured spots among the top 200 banks in the list include National Bank of Abu Dhabi (NBAD), First Gulf Bank (FGB), Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank (DIB).
In the wider region, a total of 11 Gulf banks secured spots in top 200 banks in The Brand Finance Banking 500, a prestigious ranking of the world's 500 biggest banks, conducted by brand valuation consultancy Brand Finance.
Only one Qatari bank secured a spot in the top 200 list, which is Qatar National Bank. The rest of the five GCC banks belongs to Saudi Arabia - Al Rajhi Bank, NCB, Samba Financial Group, Riyad Bank and Arab National Bank.
Emirates NBD has moved up 10 places from its 2015 spot in The Brand Finance Banking 500, conducted by leading brand valuation consultancy Brand Finance, and published in the February edition of The Banker. The bank has been ranked fourth among all banks in the Middle East and Africa region.
Emirates NBD is the largest banking group in the UAE by total income, net profit and branch network. The bank recently reported record earnings with net profit up 39 per cent to Dh7.1 billion for the first time in its five-decade-long history. Asset growth, an increase in income, a control on expenses and a significant improvement in the cost of risk all contributed to the bank's robust operating performance, with total income growing five per cent to Dh15.2 billion.
NBAD improved its ranking by one level and ranked at 119 in the top 500 banks list. The brand valued at $1.54 billion. The bank declared a net profit for 2015 at 5.23 billion with a six per cent growth. FGB jumped from the level of 148 in 2015 to 129 in 2016 with brand valuation of $1.38 billion and the Abu Dhabi-based bank's net profit increased by six per cent to Dh6.01 billion.
ADCB also improved its ranking significantly and secured the 138th spot with brand value of $1.23 billion compared to 154 spot in 2015. The bank's 2015 full year net profit increased by 17 per cent 4.9 billion.
DIB moved only one level to 189 with brand valuation of $798 million. The Shariah-compliant bank's profit surged by 37 per cent to Dh3.84 billion.
abdulbasit@khaleejtimes.com