National Bank of Fujairah recognised as "Best Domestic Commercial Bank" for third consecutive year at the 2014 Baker Middle East Industry Awards
Accolade reinforces NBF’s status as the leading bank for business in the UAE
National Bank of Fujairah (NBF) PJSC has announced that it has won the award for "Best Domestic Commercial Bank" at this year's Banker Middle East (BME) Industry Awards. This marks the third year running that the bank has received the prestigious accolade, further emphasising its position as a leading partner for small and medium-sized enterprises across the country.
Organised by publisher CPI Financial, the annual BME Industry Awards recognise the region's leading financial institutions. NBF has been lauded at this forum on numerous occasions, and has also won the "Best Customer Service - Corporate & Investment Banking", "Best Trade Finance Offering - SME" and "Best Treasury Management" titles earlier this year at the BME Product Awards, a sister event celebrating breakthroughs in banking solutions and services in the region.
As one of the earliest entrants into the commercial banking sector in 2003, NBF's dedicated focus in this area has underpinned ongoing efforts at developing tailored solutions for companies in the UAE. The bank recently launched business loan/overdraft as well as structured trade commodity financing facilities designed around the dynamic requirements of companies today, while its medium-to-long term asset financing loans continue to provide businesses with the flexibility to boost productivity and capacity whenever required.
By taking a segmented lending approach that leverages its strengths across trade finance to treasury, NBF delivers multidisciplinary and highly-personalised solutions aimed at supporting the working capital requirements of its customers. It constantly invests in its dedicated and highly experienced team of commercial banking relationship managers, who serve close to 2,000 companies with annual turnovers from AED 10 million to over AED 500 million across the UAE.
In recent years, the bank's commercial banking business has grown from strength to strength; with its loan book expanding by 16% in 2013 and assets hitting the four billion mark, commercial banking constitutes one of NBF's fastest growing segments.
Speaking at the side lines of the awards dinner held at Emirates Towers yesterday, NBF CEO Vince Cook said: "Over the years, the bank has always upheld the belief that success comes from doing the right thing for the customer. Winning this prestigious award three years in a row is therefore a fantastic boost for us because it not only underscores our leadership in the local banking sector, but is a ringing endorsement of our client-focused approach.
"We are extremely pleased to have received this award yet again and on behalf of the bank, I would like thank our long time clients, partners and last but not least, our staff for their trust and support. Exciting developments are afoot in the UAE and the region, and we look forward to partnering our customers in our mutual success."
About National Bank of Fujairah PJSC:
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.
NBF's key shareholders include the Government of Fujairah, Easa Saleh Al Gurg Company LLC and Investment Corporation of Dubai. Rated Baa1/Prime-2 by Moody's and BBB+/A-2 by Standard & Poor's, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol "NBF". It has a branch network of 14 across the UAE.
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