Dubai-UAE: 16 December, 2015 – Noor Bank, a leading Shari’a Compliant bank in the United Arab Emirates, has been named ‘Best Bank for Home Finance UAE 2015’ as well as ‘Best Bank for Priority Banking UAE 2015’ by the respected London-based business publication, Global Banking & Finance Review.
Speaking about the wins, Hussain Al Qemzi, CEO, Noor Bank, said, “I am proud of these award wins from Global Banking & Finance Review, which reflect the bank’s exemplary performance and convenient product solutions in the market. Both Priority and Home have witnessed consistent growth in 2015, a result of our strategic focus we undertook at the start of the year. As we end the year and look ahead, we would redouble our efforts to ensure that we continue on the path to success as far as these two businesses are concerned along with others.”
The win for Home Finance exemplified Noor Bank’s wide portfolio of products ranging from Vanilla Purchase, Buyout, Equity Release products to niche segment products, like Commercial Property Finance, Non-resident finance, Flexi Finance and Off-plan. It also acknowledged the bank’s stellar performance in the home finance sector which saw Noor improve its market share moving to capture around 14% of transactions in the same year. It has truly lived up to the spirit of innovation and customer centricity of Noor Bank through its technological breakthrough platforms, systems and processes.
Noor Bank’s win in the Priority Banking category identified the bank’s wide portfolio of solutions and its success in catering to priority banking customers in three core areas; the wealth management, financial services and benefits and lifestyle benefits. The bank particularly displayed success in catering to the growing wealth segment in the UAE and providing excellent personalised service that matched their customer’s needs.
Noor’s Priority Banking also caters to international clients and almost one third of its high net worth investors’ portfolio consists of non-residents from GCC, Africa, parts of Asia and Europe. It has specific teams that cater to these markets exclusively. Noor Bank’s asset-backed products also offered additional liquidity, which provided a more robust proposition to priority banking customers
Noor Bank’s awards come after a rigorous judging process by Global Bank and Finance Review’s editors based in London. The Global Banking & Finance Review Awards annually recognise innovation, achievement, strategy, progression and inspirational change taking place within the Global Financial community.