Due to increasing awareness of a sustainable and healthy economy, Bank of Abu Dhabi and UAE banks are amongst the top performing in GCC. By taking active measures, these two banks continue to attract corporate clients and boost the Gulf’s confidence in the region. For them, this is the result of careful evaluation of the latest trends and global standards, while respecting the diverse cultures and settings.
UAE banks’ strategy of cutting costs while increasing productivity is commendable. They want to be competitive in the global market while helping the country’s growth in providing high quality services and infrastructure. The bank had previously been at the bottom of the GCC league table, but the economic developments in the region have brought about a significant change and has become one of the top-performing GCC financial institutions.
Their track record on improving their net profit margin, giving more value to the OEM, is very impressive. The bank is also well known for its commercial operations and several projects that benefit the environment and improve its quality. Under this bank, many foreign businesses are able to gain access to credit and services, thereby boosting business and job opportunities.
A survey conducted by KPMG in 2020 revealed that almost half of the UAE banks had maintained their profitability, which was the result of prudent management, increased competition in the market and improved working capital management. The report highlights that by improving their financial and operational capabilities, banks have been able to increase their profits and profitability. This has helped them maintain a healthy cash flow, which is essential for the ongoing expansion of business and hiring of new employees. Now, the government is encouraging them to develop their reputation as a highly efficient and competitive financial institution.
One of the major reasons for UAE banking’s consistent and uninterrupted profitability is the low and stable oil prices. As a result, the economy is moving ahead from low to medium growth and making money available for the welfare of the people. Banking services have also been proven to be beneficial for the private sector and large organizations by increasing the efficiency of business processes, as well as minimizing the paperwork and unnecessary red tape.
When the central bank of UAE changed the banking rules in 2020, the bank effectively managed to enhance its reputation among their customers. This resulted in its successful introduction into the GCC market. As of 2020, they were also included among the top GCC financial institutions with the highest profit margin.
If you want to run your own business, you should hire the services of UAE bank as they have an excellent track record of providing quality services and technical solutions to commercial companies and corporate borrowers. These banks have not only made huge contributions to the country’s development but also play a vital role in the future economy of the country. Due to their commitment to financial growth and expansion, these banks are going to stay as one of the top performing banks in the GCC.
To ensure that you can enjoy all the benefits of a smooth and successful business, you need to hire the services of top performing UAE bank. Today, they have several options for you to choose from, so that you can find the most suitable banking solutions for your needs. Their helpful services and efficient manpower will enable you to make the most out of your business and help you realize your dreams.