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LATEST ARTICLES
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Commercial International Bank wins region’s best bank award; winners reflect year of reform and easing bank liquidity; record year for Gulf debt capital markets sees HSBC retaining investment-banking title, while local and international banks do battle for regional and domestic awards.
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Best bank in the Middle East Emirates NBD Best investment bank in the Middle East HSBC Best digital bank in the Middle East Emirates NBD Best bank for financing in the Middle East Citi Best bank for advisory in the Middle East Barclays Best bank for markets in the Middle East National Bank of Abu Dhabi Best bank for transaction services in the Middle East Abu Dhabi Commercial Bank Best bank for wealth management in the Middle East Audi Private Bank Best bank for CSR in the Middle East Arab African International Bank Best bank for SMEs Bank of Alexandria Best bank transformation Al Ahli Bank of Kuwait Outstanding contribution to financial services Hisham Ezz Al Arab . Country Awards for Excellence 2016: Middle East Awards for Excellence Middle East press release
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Low oil price no bar to expansion; international business up 13% year-on-year.
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Alex Thursby learnt his trade at StanChart and ANZ, but it’s to Asia’s regional champions that he looks for inspiration in his new role as CEO of National Bank of Abu Dhabi. Clients come first, but his big plan is a bold one: to put NBAD at the centre of where east meets west.
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The Bahrain award is one of the easier ones in the region to decide upon; Ahli United is the leader on almost any metric. Its $579.4 million net profit for the 2013 financial year ($366.5 million after allowing for a one-off exceptional gain) was a record and a 25.7% improvement on the previous year, as well as being the biggest profit in the country’s banking industry. Total assets grew 9.3% to $32.65 billion; loans, 8.3%; customer deposits, 17.4%. NPLs are a healthy 2.4% and total provisions for those NPLs 149.4%, while the bank’s capital adequacy ratio now stands at 16.2%. Most of these metrics lead the industry.
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The National Bank of Abu Dhabi’s (NBAD) $850m floating rate note sold in December has set a new benchmark for the region’s issuers both in terms of size and spread.