Thursday, August 17, 2017
First yallacompare Banking Awards Reveals That 80% Of UAE Residents Would Recommend Their Bank To Others
08-13-2017
yallacompare survey conducted as part of comparison site's first Banking Awards reveals high level of bank satisfaction among UAE residents.

The vast majority of UAE residents would recommend their bank to others, according to a survey conducted by yallacompare, the Middle East’s leading comparison site.                                                      

The survey, conducted as part of the yallacompare Banking Awards H1 2017, sought to ascertain the leading banks and financial products in the UAE by popular vote, and was taken by over 3,500 UAE residents.

According to the results, over 80% of UAE residents would recommend their bank to others, while over 77% would recommend their primary credit card to others. Just under 12% said they would not recommend their bank to others.

“The results to this survey show that, for the vast majority of people in the UAE, banks are doing a good job. With most banks offering much more mature web- and mobile-based banking services, as well as improving their general levels of customer service, it would appear that UAE banks are keeping the majority of their customers happy,” said Jon Richards, CEO of yallacompare.

The survey also quizzed respondents on what they deem to be the nation’s best financial products, providing the basis for the first yallacompare Banking Awards. The survey asked respondents to vote on which financial products should be named as the most impressive of the year.

In the credit card categories, it emerged that airline co-branded products were consumers’ favourite cards for earning air miles with. The Citibank Emirates Ultima Card was voted as the air miles credit card of the year, while other airline co-branded cards scored highly in the category.

In terms of cashback credit cards, users, unsurprisingly, voted for the cards that gave them the largest sums of cashback. Standard Chartered’s Titanium Card picked up the win, thanks largely to the fact that it offers a market-leading 10% cashback on a variety of purchases.

Likewise, rewards figured highly in the mortgage and Islamic home finance categories, with RAKBANK’s Home In One and DIB’s DIB Home products being named winners in their respective categories. These products offer more to consumers than long-term home loans, instead offering complete personal finance packages that allow borrowers to earn benefits from their repayments.

After much painstaking analysis, the results of the yallacompare Banking Awards H1 2017 came out as follows:

Personal loan provider of the year: ADCB

Islamic personal finance provider of the year: Emirates Islamic            

Auto loan provider of the year: Emirates NBD

Islamic auto finance provider of the year: Noor Bank

Home loan provider of the year: RAKBANK

Islamic home finance provider of the year: DIB

All-rounder credit card of the year: NBF Platinum Exclusive Credit Card

Debut credit card of the year: Simplylife Family Credit Card

Cashback credit card of the year: Standard Chartered Titanium Card

Air miles credit card of the year: Citibank Emirates Ultima Card

Premium credit card of the year: American Express Platinum Card

Credit card provider of the year: Citibank

Islamic card provider of the year: ADIB

Savings account provider of the year: National Bonds

Sharia savings account provider of the year: ADIB

SME finance provider of the year: RAKBANK

Current account provider of the year: HSBC

Digital bank of the year: CBD NOW

Customer service award: Most satisfying bank of the year: Emirates NBD

 


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