Ibrahim Abdulla and Mahmoud Hadi holding the award
Commercial Bank of Dubai (CBD) yesterday received the Best Local Bank in the UAE 2010 award at the celebrated annual Middle East Banking Awards (MEBA) 2010, organised by EMEA Finance.
Ibrahim Abdulla, General Manager, Administration & Finance and Mahmoud Hadi, General Manager, Systems & Operations received the award on behalf of CBD at a ceremony held at the Jumeirah Beach Hotel in Dubai yesterday to honour the MEBA Awards winners. The EMEA Finance awards represent one of the leading industry recognitions in the Middle East’s banking sector.
Peter Baltussen, CEO of CBD said: “We are pleased and honoured to have received this prestigious award from EMEA Finance. This recognition is a clear confirmation of our strong performance in 2010 and our ability to navigate challenging economic conditions. It is also a vindication of the prudent strategy and policies that we followed, which ensured our stability and growth in what was a tough year for the global economy,” he said.
The 2010 EMEA Finance awards honour Middle East banks that are delivering impressive results despite one of the most severe and dramatic downturns in economic history, boasting rising profits and expanding in the Middle East and internationally.
“As a result of our focus on family owned companies and affluent individuals, the quality of our credit portfolio remained strong in 2010. Our profitability ratios are among the highest in the UAE banking sector. Our robust fundamentals, especially our strong liquidity, ensure that we are well geared to take advantage of the increasing opportunities that will come with the acceleration of economic recovery,” the CEO added.