The National Bank of Abu Dhabi, NBAD, has been selected as Best Private Bank in the U.A.E. for the third consecutive year by The Banker and Professional Wealth Management Magazine, at the 6th Annual Global Private Banking Awards.
The Global Private Banking Awards recognise and reward excellence in private banking in the Americas, Europe, the Middle East and Asia, according to qualitative and quantitative criteria.
Private Banks were judged by their business performance, their approach to client relationship management, and how they have adapted portfolio management, asset allocation and product strategy to meet investors' changing needs. Staff developments, due diligence, and risk management were also key areas for evaluation.
"We are honoured to be recognised as the Best Private Bank in the U.A.E. for the third year in a row," said Ashraf Mazahreh, the Managing Director and Head of Private Banking, U.A.E., at NBAD. "This accolade reflects our strong position in understanding clients' needs and providing them with the necessary advice and tailored-made investment solutions to preserve and grow their wealth." Mr. Mazahreh added, "Over the past three to four years, Global Private Banking at NBAD has maintained its focus on becoming the reference private bank for the Arab World. Its initiatives include expanding its international footprint and further developing our international investment competence. Today, our clients receive seamless private banking services through our global team across four geographical areas - the U.A.E., Egypt, France, the UK and Switzerland.
"Our clients benefit from our wide range of investments products and in-depth knowledge of the local and global financial markets. This is supported by our world class client servicing platform and research capabilities," says Mr. Mazahreh. "To sustain our position as the best Private Bank, means ensuring our products are competitive, aligned to the needs of clients and delivered efficiently. As such, we have promoted a robust fulfilment process that ensures seamless integration between front, middle and back office activities while regularly monitoring turn-around times and service standards." NBAD, acknowledged as the 25th safest bank in the World and the safest bank in the Middle East and Emerging Markets, offers a wide range of investment products and wealth solutions which include Discretionary Portfolio Management and Advisory Services, Securities Brokerage, Custodian Services, Real Estate Financing, Wealth Planning and Trust Services.