Andre Al Sayegh, CEO of FGB, Karim Karoui, Chief Financial Officer, First Gulf Bank, and Clive Horwood, Editor of Euromoney
Following extensive research and studies of quantitative data and performance measures pertaining to the bank, leading financial partner of choice First Gulf Bank (FGB) won the prestigious financial publication Euromoney award as the “Best Bank in the UAE”. FGB was recognised during Euromoney’s Awards for Excellence- Middle East 2012, which took place recently in Dubai, and was attended by prominent financial institutions and banks from the region.
FGB recognition follows an analysis of the bank’s offerings and services provided to its customers in different domains and for varying needs. It is also based on financial performance and studies in areas like: debt capital markets, equity capital markets, M&A transactions corporate advisory, project finance, and solutions such as foreign exchange and cash management.
Commenting on the award Abdulhamid Saeed Board Member and Managing Director, FGB stated: “Our board members are very proud to receive such a prestigious award which proves that First Gulf Bank’s continuous high financial performance and customer-focused strategy has earned it a leading position among regional banks”.
On the other hand, Andre Al Sayegh, CEO of FGB commented: “First Gulf Bank’s win of the Euromoney Award for Excellence comes to reiterate our strong presence in the UAE and the region, in addition to our high quality of services. Our bank has always been focused on enhancing its products, and ensuring that we provide the best consultation and advisory to our customers, due to the fact that we have extensive experience, through our long-established presence in the country.”
“Having been named as the “Best Bank in the UAE” by Euromoney, reflects our sound strategy and policies, and serves as yet another reminder of FGB’s uniqueness in providing top-notch products and throughout the years, maintaining a consistent and sound financial performance ,” Sayegh added.
Being held for the 20th year in a row, the Euromoney Awards for Excellence cover over 100 countries, and annually honor banks and financial institutions that have shown innovation, expertise and outstanding services to their clientele.
Elaborating on FGB’s receiving of the title, Clive Horwood, Editor of Euromoney said: “This year we acknowledge a bank which has demonstrated resilience – and whose profitability and low bad debt levels throughout the crisis have wowed investors. This bank has been a spectacular turnaround story over the past ten years.”
FGB’s Euromoney Award falls within a list on the many titles which First Gulf Bank has received recently, including EMEA’s Finance's “Best Local Bank in the United Arab Emirates 2011 award” in addition to being ranked as the third best performing institution in the UAE in 2011 in Forbes Middle East’s “Top 50 Companies in the UAE 2011” list. FGB’s website has also won the “Best Creativity Award” from Banking Web Awards Committee under Commercial and Corporate Banks Category in 2012.