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Emirates NBD launches unique Personal Loan Education Campaign
- United Arab Emirates: Tuesday, October 07 - 2008 at 14:29
- PRESS RELEASE
Emirates NBD, one of the largest Banking Groups in the region in terms of assets, has launched a unique new Personal Loan Education Campaign.
The campaign was launched on the 21st of September via high-impact advertising, and is designed to advise
UAE residents to borrow responsibly and within their repayment capacity.
This new initiative is in line with the Group's reputation of being a financial institution that cares for its customers. The initiative will be supported by a sustained media campaign that will advise the
UAE residents on the merits of borrowing prudently and avoiding the temptation of high loan amounts.
Mr. Jamal Bin Ghalaita, General Manager, Consumer Banking and Wealth Management at Emirates NBD, said:
"There are many ways to get high loan amounts rather easily today, and this can result in customers being over-leveraged into a long-term debt trap by borrowing more than they need. This initiative is designed to raise awareness of borrowing within one's budget, and will be strongly supported by our Staff who will carefully assess a borrower's repayment capacity before disbursing a loan."
Mr. Suvo Sarkar, General Manager, Retail Banking at Emirates NBD, said:
"Emirates NBD is the first Bank in the region to introduce a unique 7-days loan return option under which any loan customer who is not satisfied with any of our terms and conditions can return the loan to the Bank within a week. All levied fees and charges will be reversed. Helping to educate consumers on how to properly manage debt is more than a corporate goal for Emirates NBD, as we believe that sound financial planning is a pillar for continued economic growth."
After assessing personal loan applicants for their repayment capacity, the bank will disburse the loan for a tenure that is suitable to the borrower. Large loan amounts and long repayment periods that can place a considerable strain on the borrower will be minimized through this process.
Mr. Jamal Bin Ghalaita, General Manager, Consumer Banking and Wealth Management at Emirates NBD.
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Posted by Siba Sami Ammari
Tuesday, October 07 - 2008 at 14:29 UAE local time (GMT+4)
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For more details about this unique new campaign, please visit any Emirates Bank or National Bank of Dubai branch or call 04 3160202.
About Emirates NBD:
Emirates NBD (DFM: ENBD) is the biggest banking group in the Middle East by assets. The Group has a leading retail banking franchise in the UAE, with over 115 branches and over 488 ATMs. It is a major player in the UAE corporate banking arena, with a combined market share of almost a fifth of corporate loans. It also has strong Islamic banking, investment banking, private banking, asset management and brokerage operations. The Group has operations in the UAE, the Kingdom of Saudi Arabia, Qatar, the United Kingdom and Jersey (Channel Islands), and representative offices in India, Iran and Singapore.
About National Bank of Dubai:
Founded in 1963, National Bank of Dubai is the oldest, locally incorporated bank in the Southern Gulf. Known as the bank with a performance that is second-to-none, NBD has built a reputation of stability and strength much appreciated by shareholders and customers alike. Recognizing this leading performance, NBD has been awarded with the Dubai Quality Award for the year 2005.
Offering diversified financial services, NBD is a leader in corporate banking. Its portfolio covers a wide range of services including transport, real estate, construction, manufacturing, tourism and service industries throughout the region. In addition, NBD's private banking services, offer highly tailored solutions to preserve and protect the personal wealth of its customers. Furthermore, NBD offers customers automated banking services, which consist of an internet service (NBD Online), a telebanking facility (NBD Telebank), an SMS based service (NBD Mobile) and an online brokerage trading in UAE shares through its subsidiary, NBD Securities.
NBD also recently established NBD Investment Bank which is its' investment arm operating from DIFC. With a comprehensive card portfolio that provides an array of benefits, NBD has, over the years, built a wide ATM network as well as Point of Sale terminals in select locations throughout the UAE.
National Bank of Dubai currently has an extensive branch network that includes 39 branches throughout the UAE. In addition, NBD also has a branch in London and Qatar as well as a representative office in Tehran.
About Emirates Bank:
Emirates Bank is the flagship institution of the Emirates Bank Group and epitomizes the dynamism of the group. Since inception in 1977, the bank has constantly strived to offer cutting-edge corporate and retail products and services, supported by investments in technology and a commitment to service excellence. The bank's Consumer Banking division offers a full range of products and services comprising accounts, deposits, loans, cards, mortgages, investments and insurance, to meet the customer's every financial need. In addition, its priority banking customers can benefit from relationship management support, specialized products, and other advantages, through the Al Shaheen Club.
Emirates Bank has one of the largest branch and ATM networks in the country providing customers with easy and convenient access. Customers can also bank 24 hours through online and phone banking, as well as benefit from a wide variety of bill payment options.
For more information please contact:
Zeina El Haj
Head of Marketing, Communication & Events
For Consumer Banking & Wealth Management
Emirates NBD
Tel: +9714 209 2669
Fax: +9714 2329147
Aya Elamine
Account Manager- PR
tamra-c2
Tel: +9714 295 1177
Fax: +9714 295 1188
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