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| Regional Awards for Excellence 2013: Middle East | |
| Outstanding contribution to financial services in the Middle East | |
| Middle Eastern winners by country Bahrain Egypt Israel Jordan Kuwait Lebanon Oman Palestinian Territories Qatar Saudi Arabia United Arab Emirates |
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Best Bank: Ahli United Bank |
| Although the Bahraini economy continues to struggle with political instability, its banking system is faring remarkably well. And within that, Ahli United Bank continued to perform strongly, to win this award once again. The bank booked its highest-ever net profits in 2012, $335.7 million, up 8% on the previous year, with a strong performance across the corporate, retail and private banking segments. There was consistent growth across all the main metrics, including total assets, loans and advances, and customer deposits. It is already the largest bank in Bahrain. But in most areas it outperformed its closest peer, Arab Banking Corporation. Ahli United maintains a conservative non-performing loans coverage ratio of 150%, a figure that was prudently increased from the 135% figure in 2011 despite a slight reduction in the value of non-performing loans during the year. | |