Innovative UAE-based consumer finance company witnesses sustained growth despite global downturn
Demonstrating the appeal of its unique product range, Emirates Money, a consumer finance company and wholly owned subsidiary of the Emirates NBD Group, announced today that the value of its loan book has reached AED 1 billion.
Founded in mid-2008, Emirates Money has reached this milestone by continuously introducing innovative loan products, such as business loans, non-salary transfer personal loans, loans against point-of-sale receivables, commercial vehicle loans, loans against gold and, most recently introduced, loans against property.
According to Vikas Thapar, General Manager, Emirates Money, the sustained growth in Emirates Money’s book size is even more remarkable given that much of it took place during a period of restrained liquidity, as a consequence of the impact of the global financial crisis, when many lenders worldwide were reluctant to extend financing.
“We are all justifiably proud of how much Emirates Money has accomplished in such a short span of time, and of the contribution the company has made to countless individuals and businesses across the UAE,” Thapar said.
“Through the hard work and commitment of its staff, and the support of the Emirates NBD platform,” he added, “Emirates Money is now firmly established as one of the country’s preferred providers of comprehensive loan solutions.
“From day one, Emirates Money has maintained a single-minded commitment to delivering innovative lending solutions that provide clients with attractive terms, backed by world-class customer service,” he continued.
“Today, as we continue to grow our book and expand our range of products and services, we remain focused on creating new opportunities for our customers to meet their everyday financial needs and realise their longer-term ambitions,” he added.
There are currently three Emirates Money branches in the UAE, including two branches in Dubai, on Baniyas Road and Al Mankhool Street, and one in Abu Dhabi, located on Khalifa Street.