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Emirates NBD SWOT & PESTLE Analysis

ID : 52718653| Jul 2020| 15 pages

COMPANY PROFILE -Emirates NBD

Business Sector :Banking and Financial Services

Operating Geography :UAE, Middle East, Global

About Emirates NBD :

Emirates NBD, the leading banking group in the MENAT region, was formed on 19 June 1963. The Bank has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry with 94% of all financial transactions and requests conducted outside of its branches. Emirates NBD is listed on the Dubai Financial Market, which places it in a unique position to create long-term impact on the UAE’s economy. As of 2020, more than 25,000 people, representing more than 70 nationalities, are employed by Emirates NBD, making it one of the largest and most culturally diversified employers in the UAE. As a national banking champion, Emirates NBD is an ambassador of economic and social progress for the entire UAE to the world.
Emirates NBD’s mission statement reads “Every day we make our customers’ lives simpler by providing solutions to help them fulfil their financial aspirations.” Emirates NBD’s vision statement is “To be globally recognized as the most valued financial service provider in the Middle East.”

Emirates NBD Revenue :


AED 22.4 billion – FY ended Dec 2019 (year-on-year growth of 29%)
AED 17.4 billion – FY ended Dec 2018

Competitive Analysis of Emirates NBD

SWOT
PESTLE
The SWOT analysis of Emirates NBD is presented below:
Strengths
Weaknesses
1. Stable shareholder base and diversified business model
2. Leading in innovations in digital banking
3. Leading the way in the Islamic Finance Market through Emirates Islamic
4. Consistent financial performance history with strong ratings
5. One of the largest banks in GCC and leading bank in the MENAT region
6. Top banking brand in the UAE and worldwide
1. Reduced in headcount amid economic downturn and property market weakness
Opportunities
Threats
1. Official banking partner of Expo 2020 Dubai
2. Expansion in the Kingdom of Saudi Arabia (KSA)
3. Attractive growth prospects in Indian markets
1. Political instability, tensions and civil wars in Middle East region
2. Slowdown due to pandemic and weak oil prices
3. Lower consumer sentiment and delays in leveraged finance investments
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Detailed SWOT Analysis of Emirates NBD

 

Strength

1. Stable shareholder base and diversified business model: Emirates NBD, enjoys the advantage of having a cooperative shareholder base from the Government of Dubai mainly through the Investment Corporation of Dubai. The bank services the corporate, consumer and Islamic banking sectors through a well-diversified and balanced asset composition. The acquisition of DenizBank has further helped the bank expand its geographical reach significantly. As of 2020, NBD has its foreign ownership limit at 20% compared to the erstwhile 5% of September 2019. Emirates NBD has plans to increase this limit to 40% in the near future.

2. Leading in innovations in digital banking: The AED 1 billion digital transformation project announced by Emirates NBD has helped the bank make rapid strides in the fulfillment of its digital agenda. The bank has also been focusing significantly on innovation in the local and regional banking sector in 2019. The above mentioned project is expected to help the bank in improving its end-to-end IT capabilities across IT architecture, operations, governance and security. It is expected that the bank will also find it easier to handle comprehensive data management and ensure faster delivery. The Amazon Web Services have been utilized by the bank to launch Emirates NBD Voice Banking. In support of the Dubai government’s plan to encourage paperless services and transactions, the bank has also introduced a fully digital account opening process in 2019, making it easier for customers to open an account using their smartphones. The digital transformation drive initiated by the bank has caused it to gain several regional and global firsts. A number of important industry awards have been presented to the bank like being named the ‘Most Innovative Financial Institution in the Middle East’ by Global Finance at The Innovators 2019 Awards. The Euromoney Awards for Excellence in 2019 also declared Emirates as a digital banking leader by granting it the Best Digital Bank in the Middle East’ and ‘Best Bank in the United Arab Emirates’ awards.

3. Leading the way in the Islamic Finance Market through Emirates Islamic: Emirates Islamic, an Emirates NBD subsidiary, has become the flagship UAE bank with a mobile banking app. The bank has also rewritten Islamic banking by introducing several other innovations like digital wallets. Every cardholder is offered the use of three digital wallets - Apple Pay, Samsung Pay and Google Pay. Its WhatsApp banking service is another such innovation introduced by the bank.

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Weakness

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Opportunity

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Threat

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Check Out Analysis of Other Relevant Companies

TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Emirates NBD Analysis Report

1. About Emirates NBD - https://www.emiratesnbd.com/en/about-emirates-nbd/about-us/

2. Emirates NBD Annual Report - https://www.emiratesnbd.com/plugins/FinanceManagement/AnnualReport/AnnualEnglish/EmiratesNBD_AnnualReport_2019.pdf

3. Emirates NBD FY 2019 Results Presentation - http://www.emiratesnbd.com/plugins/FinanceManagement/QuaterlyReports/PresentationEng/Emirates_NBD_Results_Presentation_Q4_2019_English.pdf

4. Current Credit Ratings for Emirates NBD Group together with the most recent statement by the rating agency on the status and outlook- https://www.emiratesnbd.com/en/investor-relations/ratings-debt/credit-ratings/

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Emirates NBD SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2020). Emirates NBD SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/emirates-nbd/ [Accessed 09 Jul, 2020].

In-text: (SWOT & PESTLE.com, 2020)

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Emirates NBD SWOT and PESTLE analysis has been conducted and reviewed by senior analysts from Barakaat Consulting.

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Emirates NBD SWOT & PESTLE Analysis
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