National Bank of Fujairah recognised as "Best Domestic Commercial Bank" at the 2013 Banker Middle Eat Awards
Award is bestowed on NBF for two years running and cements its status as preferred partner for small businesses in the UAE
National Bank of Fujairah PSC (NBF) announced that it has received the "Best Domestic Commercial Bank" at this year's Banker Middle East (BME) Industry Awards. This marks the second year running that NBF has been acknowledged for its longstanding support of the small business sector and reaffirms its tradition of excellence in the areas of commercial banking, trade finance and treasury.
Organised by publisher CPI Financial, the annual BME awards celebrates the best in class in the regional banking sector, and NBF received plaudits for its trade finance, treasury and commercial banking services when it first participated in the forum last year.The bank extended its winning streak this April, retaining the "Best Treasury Management" title for a second consecutive year and securing "Best Foreign Exchange Service" and "Best SME Trade Finance Offering" at the product awards, a separate BME event focusing on the best in banking products and services.
Since its inception in 2003, NBF's commercial banking division has grown from strength to strength to become one of the fastest growing segments of the bank in terms of revenue and currently constitutes about 13 per cent of the bank's loan book and a quarter of its operating income.
A trusted partner to more than 1,000 companies with annual turnovers from AED 5 million to AED 200 million, NBF's strong track record in the local economy has given it an intuitive grasp of the needs of small businesses, while its focused and segmented approach made it more adept at customising solutions that best meet the working capital and capital expenditure requirements of its customers. NBF's tailor-made solutions include a collateral-free business loan for companies from different industry segments while its highly experienced team of relationship managers regularly connects clients to the bank's award-winning trade finance and treasury teams for specialised service offerings.
As part of ongoing efforts to engage its business clients, NBF also organises workshops apprising customers of the latest trends in international trade. This year, the bank launched its first-ever branding campaign featuring long-time clients Gulf Star Cooling Services, Taj Mahal Restaurants, Brands For Less and Royal Printing Press, companies that the bank closely supported as they expanded within the UAE and the Middle East.
Speaking on the sidelines of the BME awards dinner at the Emirates Towers Hotel in Dubai last Wednesday, NBF CEO Vince Cook reiterated the bank's commitment to the small business sector in the UAE.
"Since participating at the BME Awards last year, we have been humbled by the remarkable show of support that our customers and industry peers have given us. We are glad to see the bank's profile grow year on year, and this latest award has only served to lend greater conviction to our ongoing efforts at becoming one of the UAE's leading business banks and to do the right thing for our customers.
"NBF remains committed to partnering the country's business community. I would like to take this opportunity to once again thank our clients and partners for their trust and support, and as the UAE economy turns a new chapter in its development, look forward to working with them to maximise the growth opportunities within the region for greater success."
About National Bank of Fujairah PSC:
Incorporated in 1982, National Bank of Fujairah PSC (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. It is listed on the Abu Dhabi Securities Exchange under the symbol "NBF" and has a branch network of 14 across the UAE.