Investor Presentaiton
EMIRATES NBD
REVIEW OF
PERFORMANCE
cross-sell ratios and customer satisfaction scores for the
segment. Personal Loan campaigns were carried out to
encourage customers to transfer existing relationships
and drive acquisition. The employee payroll business
was expanded through targeted promotional
campaigns.
Priority Banking
Priority Banking had a good year with revenues growing
by 14% over the previous year led by a significant uplift
in wealth and FX fee income. The customer proposition
was expanded with the launch of an upper tier Signature
proposition for high net-worth customers offering
enhanced benefits and privileges. An insurance referral
partnership was put in place. Customer service was
reinforced through a series of initiatives such as
proactive servicing, relationship manager customer
satisfaction scoring and extensive service training of
front-line staff. The division's Moments of Wow customer
outreach programme continued to be received well.
Business Banking
Business Banking continued to stabilize revenues in a
challenging market environment led by a healthy 13%
growth in the Liabilities book. FX revenues grew well
supported by dedicated product specialists and targeted
customer campaigns. Trade income ramped up by 26%
supported by client activation programmes as well as
innovative product promotions. The value proposition
was refreshed with the launch of new customer
packages that provided free access to full-suite online
banking as well as a host of other benefits bundled to
suit the requirements of businesses of all sizes.
Private Banking and Wealth Management
Private Banking net interest income was impacted by
lower interest rates redressed partly by a 21% growth
over end 2020 in the CASA book, while fee income grew
well by 14% y-o-y. Customer engagement and service
delivery remained strong, reflecting in a record customer
Net Promoter Score of 61. Investment outlook webinar
podcasts were carried out to provide market updates
and guidance. The product platform was enhanced with
the addition of a range of funds along with continued
expansion of the proprietary Emirates Signature Funds
programme, which crossed USD 300 million of assets.
Reinforcing the Group's commitment to integrating
sustainable practices throughout its value chain, all
relationship managers and investment advisors were
provided with ESG training and certification. Emirates
NBD Asset Management grew revenues by 16%
compared to the previous period and was ranked
among the Middle East's 30 Biggest Asset Managers by
Forbes.
Corporate and Institutional Banking (C&IB)
Corporate Banking
Corporate Banking maintained momentum and
continued to grow its revenues and liabilities portfolio in
2021. In addition, C&IB sustained its balance sheet
whilst improving profitability through growth in fee
income and competitive pricing.
Emirates NBD continued to extend support to our
clients in 2021, empowering them to contribute and be
part of the ongoing economy recovery. Strong recovery
in the economy was witnessed through the increase in
the on-boarding of new clients. Our approach in 2021
remained focused on supporting digitisation through
bespoke products and services to adapt to customers'
changing needs, which was reflected in the sizeable
growth in non-funded income and our liabilities book.
Financial Institutions
Financial Institutions (FI) manages relationship across
banks, non-banking financial institutions, supranational
and sovereigns; offering a wide range of market leading
products across Transaction Banking, Global Markets,
Credit and Investment Banking Solutions. Our network
in the MENAT region, complemented by global
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Emirates NBD Group celebrates 50th UAE National Day
ANNUAL REPORT 2021
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