Abu Dhabi/London (November 14, 2012) – Arab Bankers Association chose Michael Tomalin, the Group Chief Executive of the National Bank of Abu Dhabi (NBAD), as the first recipient of the distinguished service award to Arab Banking and as such the Arab Bankers Association (ABA) “Banker of the Year”.
Arab Bankers Association, founded in 1980 in London, represents and promotes the interests of Arab banks and financial professionals who work with Arab banks. This is particularly important with the very strong and significant banking and trade links between the UK and the Arab world.
NBAD launched its London branch in 1977. It provides private banking, trade finance, corporate banking, and treasury products.
“The National Bank of Abu Dhabi is a strong brand and an exemplary institution; an institution that is the highest ranked Middle East bank in the World’s 50 Safest Banks list and growing,” said George Kanaan, the Chief Executive Officer of Arab Bankers Association. “NBAD continues to expand globally with presence from Hong Kong to North America; obviously, given this profile, we found it appropriate to select Michael Tomalin as the first recipient of our distinguished service award as this extraordinary growth took place under his watch.”
NBAD, the UAE’s largest bank by market capitalisation and one of the largest banks by assets in the country, has been ranked since 2009, for four consecutive years, in the World’s 50 Safest Bank list published by the prestigious Global Finance.
NBAD, which has the largest global network among UAE banks, expanded into China and Malaysia this year, as part of a plan to be represented in over 40 geographies from the current 15 within 10 years. Much of the expansion will be Asia focused reflecting the growing trade and investment links between the Middle East and Asia.
In accepting the very first award for distinguished service by the ABA, Mr. Tomalin spoke of the need for Arab banks to play a larger role on the global financial stage especially with the decline of traditional European banks. He also emphasized the strong links between London and Arab banking.