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UAE’s NBAD wins two awards

ABU DHABI - The National Bank of Abu Dhabi (NBAD) was named the Bank with the Best Risk Management in Middle East and North Africa (MENA) and Best Bank in the UAE for 2011 in the Banker Middle East Industry Awards for Excellence 2011.

The prominent awards from the Banker Middle East come shortly after Euromoney named NBAD the Best Bank in the UAE.

“In 2011, NBAD has again won top recognition from prestigious publications that set the benchmark for excellence. The latest accolades confirm the industry’s recognition of NBAD’s outstanding business results, growth, and leadership in risk management practices,” said Michael H. Tomalin, the Group Chief Executive of NBAD. “I thank Banker Middle East. I also thank the NBAD staff for their commitment to uphold NBAD’s customer-centric values and for adopting quality risk management practices, which reflects NBAD’s commitment to value all our stakeholders.”

NBAD is the first UAE bank to break the US$1 billion net profits as it earned AED3,683 million ($1.003 billion) in 2010. In 2004, NBAD became the first UAE bank to earn more than AED1 billion in annual net profits.

NBAD is also named in the 50 Safest Banks in the World in 2009 and 2010 by Global Finance. Euromoney has named it the Best Bank in the UAE three years in a row, 2009, 2010, 2011, and five times over the last decade.

• UAE