NBB awarded ‘Middle East’s Best Bank Transformation’

Manama, July 15 (BNA): The National Bank of Bahrain (NBB) has celebrated a significant milestone in its transformation journey after being awarded ‘The Middle East’s Best Bank Transformation’ by the Euromoney Awards for Excellence 2020 – the global financial sector’s most esteemed accolades, which also honored it with the ‘Bahrain’s Best Bank’ honor for the second consecutive year.

NBB was nominated as a result of its significant transformation, positive results delivered over the past year, as well as its continued market leadership and ongoing efforts and investments in innovation.

These coveted awards are a milestone of NBB’s successful growth journey which has seen the Bank heavily invest in the latest technologies and talent skill to digitally transform and modernize every aspect of the banking experience, converting it into a leading customer centric financial institution.

“This recognition is without doubt a proud accomplishment for NBB, and an even prouder moment for the Kingdom of Bahrain, which is regionally acknowledged as a regulatory benchmark and still holds firm as the financial hub of the Middle East,” the Chairman of NBB, Farouk Yousuf Khalil Almoayyed, said.

“The awards stand testament to the efforts exerted over the course of the last three years to transform NBB into an institution focused towards the future and a solid, and agile entity that can adapt to changing market dynamics.”

“Today, NBB is reaping the rewards of its strategic shift as a customer centric, digitally capable, modern and accessible banking institution with a unique value proposition for everyone it serves. I would like to extend my sincere appreciation to the Bank’s Board and management for navigating the complex market conditions and steering the organization to new heights, and above all, to our customers for their unwavering loyalty and the people of NBB whose efforts have paved the way for the Bank’s numerous milestones including this regional accolade.”

Over the last three years, in light of the shift in customer expectations, banking habits and increased demand for digital solutions, NBB remained focused on serving the evolving needs of each and every segment of its customer base, spanning retail, corporate and SMEs, while maintaining high level standards in risk management and controls framework.

With the customer experience as the driver of its strategy, the Bank prioritized its transformation across all customer touch points, serving different community members, including the special needs, who are being provided with physical, visual, and hearing supported services.

“It is an honor for us at NBB to have received such recognition at local and regional level. These two awards underline the remarkable progress we have made in the past three years in executing and bringing to life our transformation strategy, despite the industry and market challenges,” Jean-Christophe Durand, Chief Executive Officer of NBB, said.

“These accolades underscore our achievements to-date and further boost our drive to realize all our business ambitions. Today, we are in the position to be delivering on our brand promise, ‘Closer to You’; a commitment we made to our customers to add value and elevate their banking experience through service quality, innovation and the latest offerings.”

“It is a journey that has taken a lot of work and dedication to achieve by every single person at NBB, and I would like to thank our teams, board members, and particularly our customers for putting their trust in NBB, and for continuously supporting us on our growth path as we continue to make further progress. ”

“This award recognizes NBB’s radical transformation program, which is already delivering impressive results. Digital has been at the heart of the bank’s strategy, becoming the first bank in MENA to roll out Open Banking Solutions. It has invested in areas such as IT, internal processes, risk management structures and is raising the compliance function to international standards. Underpinning it all is the contribution made by the bank’s people,” Virginia Furness, Middle East editor at Euromoney, said.