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A journey of success
Emirates NBD, the first national bank of the UAE, celebrates 50 years as a financial pillar
As Emirates NBD, a leading bank in the region, announced plans to celebrate the 50th anniversary of its establishment as the first national bank in the UAE, congratulatory messages began to pour in from leading public and private sector professionals and decision makers from the government and financial services sector in the UAE.
Shaikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, said: “On behalf of the entire management and staff of Emirates NBD, we take this opportunity to extend our gratitude to His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, for his inspiring vision and wise leadership, which has enabled Dubai and the UAE to become a leading player in the global financial services sector.”
“On the occasion of our 50th anniversary, we would like to thank our customers, employees, shareholders and the community, who have played a significant part in growing our success,” he added.
Acknowledging the warmth of good wishes, Hesham Abdulla Al Qassim, Vice-Chairman of Emirates NBD, said: “Emirates NBD looks back today at an eventful 50-year journey, throughout which the bank has contributed strongly towards the economic growth in the country, through enabling the development of various businesses, and enriching the lives of the resident communities. Having launched several pioneering and innovative initiatives, we are justifiably proud of who we are and what we have achieved in the financial services sector over the past five decades.”
Offering congratulations on behalf of the UAE Ministry of Economy, the Undersecretary Mohammed bin Abdul Aziz Al Shehhi, said: “Emirates NBD continues its development journey, which started five decades ago. On the occasion of its golden jubilee, we would like to congratulate the bank’s management and staff for their success in establishing Emirates NBD as one of the best national financial institutions in the UAE. During half a century of operations, the bank has provided the residents of the country with the highest level of services and products on par with international best practices.”
“Emirates NBD has played a significant part in the national economy, while supporting the economic and social development of the UAE. It has also contributed immensely to stabilising the local banking industry despite the economic and financial challenges the world has recently witnessed.”
“I would also like to stress the important role played by Emirates NBD in supporting the SME sector, as it underlines the bank’s belief that the sector forms the true basis of the knowledge economy and should become a national responsibility to receive support from government and private sector entities. We at the Ministry of Economy, aim to bring together all the efforts of our partners to enhance the real concept of SMEs,” he added.
Abdullah Mohammed Saleh, Governor, Dubai International Financial Centre, said: “Over the past years, Emirates NBD has proved to be a financial giant that has played a vital role in supporting Dubai’s economy. It has contributed to its stability and competitiveness through maintaining the highest standards of banking on par with international best practices. Emirates NBD holds a leading position in the banking industry and has a wide customer base, who have always expressed satisfaction with the services provided. It is noteworthy to mention that the support extended by the wise leadership, to local banks in their development journey, has led to the merger of two leading financial entities resulting in the formation of a world class organisation.”
Abdul Aziz Al Ghurair, Chairman, UAE Banks Federation, said: “My warmest congratulations to Emirates NBD for a successful journey which extends to 50 years in the banking industry, indeed a true reflection of a sound foundation and wise leadership. The bank has emerged as one of the leading and most dynamic financial institutions in the country.”
“I commend the exemplary efforts of everyone affiliated with Emirates NBD, and extend my appreciation for its valuable contributions towards the development of the financial sector and the economy overall.”
“On behalf of all the members of the Banks Federation, we appreciate Emirates NBD’s role for being a key member at the federation, and its cooperation in various issues related to the banking sector, as well as developing and improving the banking services to best practice standards,” he added.
Hailing the 50th anniversary celebrations of Emirates NBD’s establishment as the first national bank in the country, Abdul Rahman Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry, said: “Its 50th year is a historic milestone for Emirates NBD, which traces its origins to the post-oil era as the first national bank established in the UAE by a leading group of Dubai-based merchants. Since then, despite several mergers and name changes, the bank has stood rock solid in adverse situations, especially during the global financial crisis, and has been steadily supporting the growing economic prosperity of the emirate and the country. I take this opportunity to wish everyone at Emirates NBD a bright and prosperous future.”
Mohamed Alabbar, Chairman, Emaar Properties, said: “I extend my congratulations to Emirates NBD and its entire team on the occasion of its 50th anniversary. Under the leadership of the bank’s Chairman Shaikh Ahmed bin Saeed Al Maktoum, Emirates NBD has set remarkable milestones that serve as a model for the banking sector creating a robust platform for sustained growth. As the UAE’s leading banking institution today, Emirates NBD has been an integral partner in driving the growth of Dubai’s and the nation’s economy. I am confident that Emirates NBD will continue to set impressive benchmarks in its journey forward.”
Reiterating the strength of the long standing relationship between Dubai Multi Commodities Centre (DMCC) and Emirates NBD, Ahmed bin Sulayem, Executive Chairman, DMCC, said: “On behalf of DMCC, we would like to congratulate Emirates NBD, a DMCC member since the launch of its Gold Branch in Almas Tower in 2010, for its contributions to the UAE’s financial infrastructure over the past 50 years. The Emirates NBD brand is synonymous with customer efficiency, innovation and industry expertise, and it has been a pleasure to collaborate with Emirates NBD on numerous initiatives that promote the flow of trade through Dubai and continue to strengthen the UAE’s finance industry.”
The congratulatory note was echoed by Hamad Buamim, Director General, Dubai Chamber of Commerce and Industry, who said: “For the last 50 years, Emirates NBD has been delivering enhanced value to corporate, retail, Islamic and investment banking across Dubai, the UAE and the entire GCC region. Like the Dubai Chamber, the bank is playing a pioneering role in offering value-added services to the business community. As a leading member of the Bankers’ Business Group, which operates as one of the 27 business groups under the umbrella of the Chamber, Emirates NBD has added a new dimension to the financial sector in Dubai, and is a step ahead in enhancing communication among various business groups and government authorities. I firmly believe that the bank will continue to serve the business community while achieving many more milestones for itself in the coming years.”
Commending Emirates NBD’s contribution to Dubai’s trade and commerce sector, Sami Al Qamzi, Director General, Dubai Department of Economic Development, said: “While evolving into one of the leading banks in the region during the last 50 years, Emirates NBD has also remained a major enabler and facilitator of trade and commerce in the UAE. Economic activity and businessmen in Dubai have especially benefitted from the financial expertise, network and local knowledge of Emirates NBD.”
Helal Saeed Almarri, Director General of Dubai Tourism and Commerce Marketing, lauded Emirates NBD’s significant role in Dubai’s financial sector saying: “On behalf of DTCM, I would like to congratulate Emirates NBD and all its staff, on its 50th anniversary and on what it has accomplished so far. Emirates NBD is a beacon of success and progress for Dubai’s financial sector, which is a crucial element of the Emirate’s economy and underpins much of its continued development and growth. As Dubai looks to further bolster its economy through developing key industry sectors, such as trade, tourism and financial services, collaboration between major stakeholders across all sectors will be vital. We wish Emirates NBD another 50 years of success.”
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), said: “One of the mainstays of the UAE economy, Emirates NBD has continued to grow and develop its banking expertise over half a century, to become one of the forerunners for the country’s financial services industry. Dewa takes this opportunity to congratulate the bank on its 50th anniversary and looks forward to greater achievements in the future.”
Emirates NBD’s role in the local financial services sector was also acclaimed by Abdul Baset Al Janahi, CEO of Dubai SME, who said: “A six-year old bank backed by 50 years of knowledge, Emirates NBD combines the best of youth and experience. As we extend our greetings on its 50th anniversary celebrations, we would like to congratulate the leaders and the management for creating a financially sound institution with strong strategic expertise.”
Hamed Ali, Acting Chief Executive of Nasdaq Dubai, said: “Since its foundation Emirates NBD has played a key role in developing Dubai and the UAE’s economy, starting in the years before independence and continuing through decades of rising national wealth and growing economic sophistication. Today, it is a powerhouse of innovative banking and capital markets services, supporting entrepreneurs, established businesses and individuals, and a vital part of the nation’s economic fabric. As both a broker and an issuer of bonds on Nasdaq Dubai, Emirates NBD has played an important part in the growth of the exchange and Nasdaq Dubai looks forward to further strengthening these ties in future.”
The bank was also commended for its contribution to the community. Major General Mohammad Saeed Al Marri, Deputy Director General, Department of Society Services, Dubai Police, said: “In half a century of banking operations, Emirates NBD has become an integral aspect of UAE society, and continues to play a crucial role in its betterment, through enabling various community and sport-focused activities.”
Accolades also came in from Saeed H. Al Tayer, Chairman of the Board and CEO, Meydan Group, who said: “Meydan congratulates Emirates NBD on this milestone achievement in its history of serving the UAE community. This is recognition for the strength of the company and the invaluable role it provides for the people and businesses throughout the region. The bank’s commitment and support of Meydan and the Dubai World Cup’s Al Quoz Sprint, serves to bring the best of world-class horse racing that Dubai is proud to share with the local community and the wider world. Emirates NBD is an invaluable partner and Meydan is proud to be associated with the company and looks forward to further years of success for Emirates NBD.”
Saeed Al Khoory, Chief Executive Officer of Enoc, said: “We congratulate Emirates NBD as it marks a true milestone for the banking industry of the UAE by bringing truly world-class financial products and services to the people for the past 50 years. The thought leadership of the organisation, which has also been a key player in promoting Emirati talent in the banking sector, is an inspiration for all organisations. Emirates NBD has played an integral role in promoting trade and commerce and supporting the nation’s overall economic growth, and we are confident that the bank will set new and impressive milestones in the future.”
Focusing on the bank’s contribution to the changing economic scenario during its 50-year history, Ahmad bin Shafar, Chief Executive Officer, Empower, said: “Emirates NBD has established itself as a leading financial institution in the region and an integral part of the UAE economy. Empower is pleased to extend its congratulations to Emirates NBD on its golden jubilee celebrations and wishes the bank another 50 years of success.”
Emirates NBD was unveiled in its present entity in 2007, following the merger between National Bank of Dubai and Emirates Bank International. However, its history spans five decades to the historic day in 1963, when Sultan Al Owais and a leading group of merchants approached the late Ruler of Dubai, Shaikh Rashid bin Saeed Al Maktoum, to set up the first national bank in the country. National Bank of Dubai was born to support the growing prosperity in the emirate following the discovery of oil.
Fifty years and several transformations later, the institution, which began with one branch and a handful of clients, has become a leading banking group in the UAE, offering the widest range of retail banking products and services, and with more than 149 branches and 720 ATMs and CDMs in the group.
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