New-York based Global Finance magazine has named Gulf International Bank (GIB) as the “Best Bank in Bahrain” after conducting a survey of the best emerging market banks in the Middle East and Africa.
With input from industry analysts, corporate executives and banking consultants, the magazine editors selected the best bank in each of the 24 countries in the Middle East and Africa region. This exclusive survey is published in the May 2005 issue of the magazine, which specializes in international finance issues.
According to Global Finance, “the criteria for choosing the winning banks included growth in assets, profitability, strategic relationships, customer service, competitive pricing and innovative products.”
Dr. Khaled M. Al-Fayez, GIB’s Chief Executive Officer, commented: “We are very pleased to receive another award that recognizes our leadership and achievements. The implementation of our new merchant banking strategy, which started in 2002, has strengthened GIB’s financial position, increased its profitability and widened its client base.”
GIB has won several other prestigious awards over the past five years, including “Best Investment Bank” from Banker Middle East magazine in 2004, “Best Bank in the Middle East” from Euromoney in 2001 and “Bank of the Year for Bahrain” from The Banker in 2000.
Gulf International Bank (GIB) is a leading merchant bank in the Middle East with its principal focus on the Gulf Cooperation Council (GCC) states. In addition to its main subsidiary Gulf International Bank (UK) Ltd., the Bank has branches in London, New York, Riyadh and Jeddah, in addition to representative offices in Beirut and Abu Dhabi.
© 2005 Mena Report (www.menareport.com )