The National Bank of Abu Dhabi (NBAD), a leading bank in the UAE, has been named the “Best Private Bank in UAE for 2012” in the fourth annual Global Private Banking Awards.

 “At a time when private banking has never been under greater scrutiny, your bank has been recognised as representing the very best in the industry,” said the management of Professional Wealth Management and The Banker.

The Global Private Banking Awards recognise and reward excellence by judging private banks from the Americas, Europe, Middle East and Asia according to rigorous qualitative and quantitative criteria.

Banks were judged on the progress they have made during 2011 in their business/growth strategy and how they were able to boost inflows and profits.

The panel of eight independent judges also evaluated client relationship management blueprints, looked at how banks have adapted portfolio management, asset allocation and product strategy to meet investors’ changing needs. The education, training of advisers, due diligence and risk management were also key areas of evaluation.

“It is an honor to receive this accolade which reflects our commitment in providing best of breed offerings,” said Ashraf Mazahreh, head of Private Banking at NBAD.

“Our deep understanding of clients’ true needs, blended with competent private bankers and creative financial solutions are key components to our success. Our goal is to provide our clients with trusted advice to preserve and grow their wealth through systematic and relevant advice on a consistent basis rather than focusing on a quick sale of investment products.

“We also undertake a thorough assessment of client’s risk tolerance to different asset classes,” Mazahreh added.

 “NBAD Private Banking dovetails its client focused solutions with a full range of products and services offered by NBAD group from its global network that stretches across 15 countries from China to the United States; this boost our proposition and delivery capability to cater for client  demand,” he continued.

“In addition to our onshore booking center; private clients have also the choice to implement their investment strategy offshore via NBAD Private Banking (Suisse SA) with an open-architecture platform supported by highly experienced investment specialists.

“Trusts, wealth protection and estate planning are also be offered through our wholly-owned “NBAD Trust Company (Jersey) Limited,” he concluded. – TradeArabia News Service