By IANS/WAM,
Dubai: UAE’s Emirates NBD has been ranked the largest bank in the Middle East in a latest ranking by the US-based Global Finance magazine.
Besides the Middle East region, the Emirates NBD also has a significant presence globally at a time when emerging markets continue to drive the global economy out of recession, the monthly magazine said.
Despite the impact of the global financial downturn, Emirates NBD has sustained a year-on-year compound annual growth rate (CAGR), supported by its focus on sustainable growth and its ongoing new business product and service launches such as Emirates NBD Asset Management, Emirates Money and Gold Business.
The bank projects that it will sustain this growth over the next three years, on the back of strategic policies and further long-term initiatives, Jamal Bin Ghalaita, deputy chief executive officer of Emirates NBD Group, said Thursday.