The National Bank of Abu Dhabi (NBAD) has been ranked the “Best Bank for Payments and Collections” in the Middle East by Global Finance, the international financial magazine.
To rank Best Treasury and Cash Management Banks and Providers 2014, Global Finance used a multi-tiered assessment process, which included a readers’ poll, input from industry analysts, corporate executives, technology experts and independent research.
The award considers various criteria including profitability, market share and reach, customer service, competitive pricing, product innovation and the extent to which treasury and cash management providers have successfully differentiated themselves from their competitors around core service provision.
“Being selected the best bank for payments and collections in the Middle East reflects NBAD’s strength and its ability to deliver value to clients,” said Vineet Varma, managing director and head of global transaction banking at NBAD.
NBAD provides a wide range of products and tailor-made solutions in cash management as well as a team of experts and advisors to support clients in achieving their business goals.
In 2013, NBAD was selected “best cash management services in the Middle East” at the EMEA Finance Treasury Services Awards.
NBAD’s growth ambitions are guided by its West-East Corridor Strategy, which “represents vast potentials with unlimited resources, growing economic activities, and an emerging middle class”. It plans to use its strategic locations to tap into the growing economies that span from West Africa across to East Asia. The “corridor” includes increasingly important economies in MENA, the Indian Sub-continent, South East Asia and China.
As part of this strategy, NBAD plans to have eight hubs to serve its wholesale clients in Abu Dhabi, Hong Kong, Lagos, Paris, London, Mumbai, Singapore, and Washington, DC.