National Bank of Fujairah cements position as leading partner for businesses in the UAE with best corporate and commercial bank wins at the 2015 Banker Middle East Industry Awards
Bank wins “Best Commercial Bank UAE” for fourth consecutive year and “Best Corporate Bank UAE” for the first time
National Bank of Fujairah PJSC (NBF) announced today that it has won "Best Commercial Bank UAE" and "Best Corporate Bank UAE" at the 2015 Banker Middle East (BME) Industry Awards. This is the fourth consecutive year that the bank has retained the best domestic commercial bank title whilst securing the best local corporate bank award for the first time, further reinforcing its status as the leading bank for businesses across the UAE.
Organised by CPI Financial, the annual BME Industry Awards is regarded as one of the leading platforms for recognising excellence in the regional financial services, with winners being shortlisted through public voting.
NBF's first ever best corporate bank accolade at the BME has served to validate its longstanding strategic focus. Incorporated as a full services corporate bank over 30 years ago, NBF has consistently adopted a multidisciplinary approach towards servicing clients in the UAE, leveraging both expertise in areas from trade finance to treasury and market insight in specialised industries from precious metals to energy and marine to provide bespoke business solutions. Since 2012, the bank's corporate and institutional banking (C&IB) division has managed to achieve compound annual growth rates of close to 20 per cent for its assets and operating income respectively.
As one of the foremost banks in the UAE to establish a unit in 2003 dedicated to SMEs, NBF has also quickly emerged as one of the leading partners for SMEs and mid-sized companies in the country. An integral part of C&IB, NBF's dedicated commercial banking team currently serves a portfolio of over 2,000 companies and has consistently delivered double digit growth year-on-year for its loan book.
The bank's recent introduction of new service solutions from equipment to diamond financing is further testament to its customer-centric approach. Its recent "NBF Corporate Days", networking forums apprising corporate clients of the latest developments in international trade, treasury and cash management, also typify the bank's commitment to relationship building.
These two accolades add onto the record haul of five trophies at the BME Product Awards, a sister event held earlier this year to acknowledge the best in banking products and services. It won "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, the bank's fully-owned subsidiary. These plaudits are consistent with the bank's traditional strengths in treasury, trade finance and the mid-market segment, whilst acknowledging its capability in delivering bespoke corporate advisory solutions.
NBF CEO Vince Cook said: "To win both corporate and commercial banking titles at one go is both a tremendous honour and an unprecedented achievement for NBF. Most importantly, this latest success not only validates our business focus but shows that we are making extremely good progress in our transformation into one of the fastest growing and most well-respected financial institutions in the UAE and perhaps the region.
"NBF has managed to maintain its growth momentum remarkably well and this latest show of appreciation from the market will only spur us to even more exciting things. On behalf of the bank, I would like to thank all of our customers and partners, who have believed in and supported us over the years, and very much look forward to working with you to achieve greater heights."
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.