Ahli United Bank has been named “Best Bank in the Middle East” by leading international finance magazine Euromoney. In addition to the regional award, AUB was also named Best Bank in Bahrain for 2012 for the seventh consecutive year.
The announcement was made at the 2012 Euromoney Middle East Awards for Excellence Gala Event, which was held in Dubai and was attended by leading bankers from across the region.
Long regarded as the benchmark awards for financial services globally, the Euromoney Awards for Excellence are now in their 22nd consecutive year. This year’s awards attracted over 600 submissions from banks worldwide. Euromoney’s research team and awards panel rated the banks on both quantitative and qualitative factors, including financial ratios, regional diversification and innovation over the past 12 month period to decide the award winners, honoring those institutions that demonstrate leadership, innovation, and momentum in the markets in which they excel.
Euromoney commended AUB for successfully navigating a very turbulent year. Euromoney Editor Clive Horwood highlighted how “Ahli United Bank ‘s geographical diversification throughout the Middle East has helped the bank flourish in challenging times. AUB managed to post a 17% net profit increase in 2011, with the rise continuing into the first quarter of 2012. Despite geopolitical upheavals regionally, AUB Group profit was at its highest ever.”
Receiving the award on behalf of AUB, Group CEO Adel El-Labban said: “This award is a fitting and well appreciated tribute to the efforts and dedication of all our staff in pursuing our collective vision of a prudence-led, customer-focused bank which takes a long term approach to growth while continuing to best service its clients and manage its risks under very adverse conditions. It is a clear reflection of AUB Group ‘s strength and resilience to win this award for the second time after our initial selection in 2007, and it is particularly gratifying to see our commitment to entrenching a culture of excellence being recognized by a leading authority such as Euromoney”.
This award by Euromoney marks the fourth major honor for AUB in 2012. Earlier in the year, AUB was named “Best Foreign Exchange Bank in the Middle East” for the sixth consecutive year and ‘Best Bank in Bahrain’ for the seventh consecutive year by Global Finance as well as “Best Private Bank in Bahrain” for the second consecutive year by Euromoney, further cementing AUB’s reputation as a premier financial services provider in the Middle East.
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