Dubai - Mubasher: Emirates NBD has been named the most valuable banking brand in the UAE with a brand valuation of $ 1.78 billion, a significant increase of 40% from 2014, the bank announced.   

Ranked third among all banks in the Middle East and Africa region, and 106th globally in The Banker’s ranking of top 500 global banks, the Dubai-based bank moved up 24 places from its ranking in 2014.

“Being ranked the most valuable bank in the UAE is testament to our continued efforts to deliver the most simplified banking solutions to customers in the UAE, and beyond. The overall ranking also reaffirms our vision to be globally recognised as the most valued financial services provider based in the Middle East,” said Shayne Nelson, Emirates NBD Group CEO.

Emirates NBD is the largest banking group in the UAE in terms of total income and branch network. It recently reported record earnings with net profit of AED 5.1 billion for 2014, up 58% compared to figures from 2013. Total income for the year 2014 grew by 22% to AED 14.4 billion, while net interest income rose 17% to AED 9.5 billion.