Emirates NBD launches new brand identity

Emirates NBD, the largest bank in the Middle East in terms of assets, yesterday officially announced the conclusion of the merger with the launch of its new brand identity.

The new brand has been described as the embodiment of the successful unity of Emirates Bank and National Bank of Dubai (NBD), two of the region's leading financial institutions.

NBD was formed in 1963 and Emirates Bank was established in 1977. On March 6, 2007, these banks agreed to merge into one entity. On October 16, 2007, Emirates NBD shares were listed on the Dubai Financial Market.

As a merged entity, Emirates NBD now has more than 110 branches and more than 650 automated teller machines and smart deposit machines.

Emirates NBD's international presence extends to the Kingdom of Saudi Arabia, Qatar, the United Kingdom, Jersey, India, Singapore and Iran. Emirates NBD will look at increasing its reach to China by 2010.

The vision behind the flagship merger of 2007 was to create a national banking champion, in line with the growth and economic development plan of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President, Prime Minister and Ruler of Dubai.

Since the merger, the bank's assets have grown from Dh165 billion to Dh291bn, confirming its position as one of the largest banks in the Middle East.

The bank said the look of the new logo has been derived from the common arc elements of the two legacy logos, creating an icon that is symbolic of an equal partnership and common heritage, while being distinct, fresh and relevant. A statement from the bank said the chosen colours represent safety and confidence, with blue symbolising continuity, yellow standing for energy and dynamism and white representing peace stability and longevity.

"I am proud to announce the launch of the Emirates NBD brand, which reflects and reinforces our position as a leading banking group in the region. It is testament to the strategy of our management team and the strength of the bank's core businesses that we have been able to complete this landmark merger and integration during the economic and financial challenges that the global financial industry is witnessing," said Emirates NBD's Chairman, Ahmed Humaid Al Tayer, who has also been appointed as the new Governor of DIFC.

The Chief Executive Officer of the bank, Rick Pudner, said the launch of the new brand marks and celebrates the bank's achievements over the past two years during which it focused on capturing synergies, streamlining operations and building on common values.

"We have been committed to developing an identity for Emirates NBD that reflects the heritage and prosperity of both the banks and the region. We feel that this new brand encapsulates the qualities on which we pride ourselves and gives us an identity upon which we can build our business, both locally and internationally," said Pudner.


China Foray next year

Emirates NBD, the UAE's biggest bank by assets, aims to expand into China next year and will open a branch in Singapore to boost growth.

"In 2010, we will increase our reach to China" with the opening of a representative office, Chief Executive Officer Rick Pudner told reporters in Dubai yesterday.

State-controlled Emirates NBD will also convert its representative office in Singapore into a branch, he said.

 

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