– UAE SME sector receives boost as Emirates NBD Business Banking announces 34% increase in loan facilities for SMEs
In line with its aim to boost SMEs and the national economy, Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, reports a 34% increase in loan facilities in favor of SMEs compared to the previous year.
As the country’s leading bank, Emirates NBD has always championed the needs of local SMEs that contribute to the country’s GDP. Additionally, Emirates NBD Business Banking has significantly contributed to the financing of SMEs in the country to meet their working capital needs. The bank also opened more than 7,000 new business accounts for large and small businesses, with account packages including a host of features and benefits for business owners and their entities.
Emirates NBD’s unique offering for SMEs in the UAE incorporates a premium service model, allowing all customers free access to its best-in-class digital platforms, supported by consultancy services through a network of branches rapidly expanding in the main trade corridors of the United Arab Emirates, Saudi Arabia and Saudi Arabia. Egypt.
For its contribution to empowering the SME sector, Emirates NBD was recently recognized at the Middle East & Africa Retail Banking Innovation Awards 2023 by The Digital Banker. The bank was named ‘Best SME Bank in the UAE’ and ‘Best SME Bank in the Middle East’, in recognition of its efforts to provide value-added products and innovative digital services to drive business growth. SMEs in the UAE and the wider region. .
Commenting on the win, Marwan Hadi, Group Head, Retail Banking and Wealth Management at Emirates NBD, said: “Driving growth in the SME sector is a key strategic objective for Emirates NBD. We are honored to be recognized by The Digital Banker, thereby strengthening our leadership position in the banking sector in the region, also demonstrating our efforts to empower the SME segment.
He added: “Our customers are our greatest achievement: one in four UAE SMEs now do business with Emirates NBD, demonstrating the success of our proposition. The SME sector is w
It is our engine that drives this country’s economy, and we will continue to create and deliver more innovative tools that enable businesses and entrepreneurs of all sizes to successfully manage their operations.
Emirates NBD Business Banking embodies a holistic solutions-based approach with a diverse range of banking services that enables businesses in the UAE to thrive – from accounts to transactions, facilities to investments, cash management to payments. The bank’s unique approach offers customers the flexibility to choose between the convenience of digital banking or the personal touch of its dedicated SME centers and branches. Through its dedicated centers, the bank offers its SME clients convenient access to advisory services through dedicated relationship managers, in addition to award-winning digital services, including businessONLINE, the bank’s global cash management digital platform.
Emirates NBD Business Banking operates as a one-stop solution for SMEs in the UAE, meeting all their business needs across multiple products and services across the major trade corridors of the UAE, Saudi Arabia and Egypt , making it the bank of choice for SME customers.