Emirates Islamic Bank announced yesterday that it has been recognised as "The Best Islamic Bank in the UAE" by two leading international business magazines.
The awards were announced at the World Finance's 2013 Islamic Finance Awards and Capital Finance International (CFI)'s 2012 Islamic Finance Awards.
The recognition was the result of the bank's exceptional achievements and transformation during 2012. Within the short span of a year, the bank has managed to grow its branch network by 50% and customer base by 30%, mainly driven by the introduction of a strong suite of customer-focused offerings.
Emirates Islamic Bank was also recognised for its excellence in innovation, improvement in customer service, and overall for being the fastest growing bank in the market. In particular, Emirates Islamic Bank was also commended for its successful handling of the migration of Dubai Bank's portfolio and branches onto the EIB platform in a seamless manner during the course of 2012.
Established in 2004, the Bank was among the fastest-growing banks in the United Arab Emirates in 2012, with operating profit growing at over 60 percent. In December 2012, the bank announced the successful completion of the migration of Dubai Bank portfolio and branches onto its platform, thus becoming the third-largest Islamic bank in the country.