Emirates NBD is a top banking group in the MENAT (Middle East, North Africa, and Turkey) region, with a presence in 13 countries and over 17 million clients. As of December 2022, the company’s total assets were AED 742 billion, or roughly USD 202 billion.
The Group operates 879 branches and 4,130 ATMs / SDMs across the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia, and Bahrain, in addition to representative offices in China and Indonesia. Emirates NBD is the top name in financial services in the UAE, with a brand worth USD 3.6 billion.
Emirates NBD Group assists its clients (individuals, businesses, governments, and institutions) in realizing their financial goals, through a variety of banking services and products, such as retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations.
With 97% of all financial requests and transactions occurring outside of its branches, the Group is a significant player in the global digital banking sector. The Group also runs Liv., the lifestyle digital bank by Emirates NBD, which continues to be the fastest-growing bank in the area with close to 500,000 subscribers.
Emirates NBD helps to build a sustainable future, by actively participating in and supporting the primary development and sustainability objectives of the UAE, such as financial wellness and the inclusion of people with ambition. Emirates NBD was a pioneering backer of the sustainability program ‘Dubai Can,’ a citywide drive to limit the usage of single-use plastic water bottles.
Recently, Emirates NBD has announced its plans for further expansion in India, following authorisation from the Reserve Bank of India (RBI) to open two new branches in Gurugram and Chennai to service the northern and southern markets of the country.
Also, Emirates NBD recently recorded a 78% jump in its second-quarter net profit as net interest income surged amid continued economic momentum in the UAE.
The brain behind this successful venture is 64-year-old Shayne Nelson, who is a veteran banker and CEO of the company.
Who Is Shayne Nelson?
- Shayne Nelson was born and brought up in Melbourne, a city in Australia
- He completed his bachelor of professional studies in engineering and business management from the Australian Institute of Company Directors
- Shayne Nelson started his career as a Standard Chartered Chief Risk Officer for Wholesale Banking based in Singapore, Regional Head of Corporate and Institutional Banking Audit for the Asia Pacific Region and India
- Between 2006-2010, he was the Regional CEO of Standard Chartered Bank Middle East and North Africa
- Shayne Nelson also held the position of Chief Executive Officer and Managing Director of Standard Chartered Bank, Malaysia Berhad based in Kuala Lumpur
- From 2010-2013, he served in Singapore as the Chief Executive Officer of Standard Chartered Private Bank. He was also the Chairman of Standard Chartered Saadiq Islamic Advisory Board and a Board member of Standard Chartered Bank (China) Ltd
- In 2013, Shayne Nelson joined Emirates NBD as a group CEO
- During his tenure, the bank’s market capitalization has increased from AED 15.8 billion to around AED 90 billion
- In 2021, Shayne Nelson was awarded ‘CEO of the Year’ for Asset Management business by the Emirates NBD
- According to Forbes Middle East, as of January 2023, Shayne Nelson’s net worth is around 190 Billion
Emirates NBD Eyes On Saudi Arabia
According to CEO Shayne Nelson, Emirates NBD plans to expand in Saudi Arabia, he told Gulf Business in an interview.
“There’s a lot of quite interesting countries within the MENA, and one place we would like to get much bigger in is Saudi Arabia. That’s an obvious one for us – since it is the biggest economy in the region. We have a large branch there, with 250 people, and we are the only UAE bank that has a fully-fledged branch in Saudi Arabia,” he said.
“It offers a full range of services including private banking, retail banking and corporate banking, but having one branch in the Kingdom of Saudi Arabia is not really much,” the publication quoted him as saying.
According to Nelson, Saudi Arabia’s market presents little difficulty for UAE businesses.
“I think if you talk to local UAE companies that have expanded in Saudi Arabia, they have done pretty well. The UAE and Saudi Arabia have strong cultural, economic and political ties. We see it as a good market that we would like to grow into,” he said.
Photo Credits: Emirates NBD