National Bank of Fujairah emerges triumpant at the 2015 Banker Middle East Product Awards with five wins
Recurring recognition reaffirms expertise across treasury, trade finance and business banking; new awards for corporate advisory subsidiary and Internet banking demonstrate ongoing commitment towards product innovation and service quality
National Bank of Fujairah (NBF) PJSC announced today that it has won five awards at the 2015 Banker Middle East (BME) Product Awards: "Best Treasury Management"; "Best SME Trade Finance Offering"; "Best SME Customer Service"; "Best SME Internet Banking Service" and "Best Corporate Advisory Service" for NBF Capital Limited, its fully-owned subsidiary. With these five awards, the bank has not only emerged as a top performer at this year's event, but has also established a new benchmark for success since it began participating in the BME Product Awards four years ago.
Organised by CPI Financial, the awards are held annually to celebrate product innovation and service excellence in the local banking sector, with winners being selected through public voting.
For the fourth consecutive year, NBF's treasury team has won the popular vote for its tailored client solutions and extensive market insight, especially in specialised areas such as precious metals and commodities.
The bank also retained the SME trade finance trophy for a third year in a row, underscoring its prominent role in supporting clients' cross-border requirements and the UAE's development as a trade hub.
NBF's first-ever SME customer service award also affirms its strong position in the mid-market segment. One of the earliest local banks to establish a dedicated business banking unit within the UAE, NBF has long prided itself as a trusted partner of small and medium enterprises. It is also a three-time recipient of the "Best Domestic Commercial Bank" at the BME Industry Awards, a sister event that showcases exceptional banks in the region, and currently provides a range of customised solutions from overdraft/loan packages to warehouse financing.
NBF Direct, the bank's Internet banking service, has also been singled out for praise. Since the launch of its corporate banking module last year, NBF Direct has quickly developed a reputation as one of the most secure and user-intuitive online platforms in the market. A distinctive feature of NBF Direct is its suite of trade finance functionalities, which contribute to the migration of clients online. Currently, 41 percent of payment transactions undertaken by NBF's corporate clients are done through NBF Direct, compared to 8 percent one year ago.
NBF Direct was also acknowledged at the recent inaugural CIO 100 Awards, a separate event that celebrates the innovative use of IT by companies in the Middle East.
In another first, NBF Capital Limited, the bank's fully-owned subsidiary, has also been awarded "Best Corporate Advisory Service". This award comes less than two years since the bespoke advisory service was incorporated in the Dubai International Financial Center. Regulated by the Dubai Financial Services Authority, NBF Capital has successfully executed transactions in diverse industry segments from healthcare to precious metals and information communication technology. It currently has over AED 2.5 bil worth of deals that are closed or in the pipeline.
NBF's CEO Vince Cook said: "The exceptional performance at the BME awards serves as a great acknowledgement of the bank's fantastic journey. 2014 not only saw the bank achieve its highest profit in its 30-year operating history, but unequivocally stake its rightful place as a highly credible partner in the local banking sector. That the bank continues to be recognised in its core areas year after year helps reinforce our belief that dedicated business focus and technical expertise delivers a winning combination, whilst new awards handed out in favour of NBF Capital and our online service underscores the bank's ongoing commitment towards product innovation and customer experience.
"It is indeed a joy and privilege to be part of an organisation that is so highly-regarded and that still has so much promise. On behalf of NBF, I would like to take this opportunity to thank our clients, partners and employees once again for their trust, partnership and support."
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 and Shariah compliant services. 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 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 15 across the UAE.
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