Sunday 14, May 2017 by Georgina Enzer

Winners revealed! Banker Middle East Industry Awards 2017

The Best Bank in the Middle East was revealed as Saudi Arabia’s Al Rajhi Bank at the 18th Banker Middle East Industry Awards’ Gala Dinner, held at Jumeirah Emirates Towers in Dubai on 11 May.

In a remarkable triple, Al Rajhi was also named the Best Bank in Saudi Arabia, as well as being the Fastest Growing Bank in Saudi Arabia.

GFH Financial Group, Fastest Growing Bank in Bahrain, continued its remarkable growth story of recent years, also taking the title of Fastest Growing Bank in the Middle East.

The winners were announced before an audience of some 400 senior bankers and financiers, including more than 30 Chief Executives from around the region.

Among the individual award winners, Shayne Nelson, GCEO of Emirates NBD and Omar Bouhadiba, CEO of International Bank of Qatar were named Banker of the Year – UAE and Banker of the Year – Qatar, respectively.

Dr. Adnan Chilwan of Dubai Islamic Bank received the CEO Award – Excellence in Islamic Banking while, reflecting GFH Financial Group’s own performance, the investment bank’s CEO, Hisham Al Rayes, won Investment Banker of the Year.

The Award for Best Strategic Vision went to Shailesh Dash of Regulus Capital and Promoth Manghat of UAE Exchange was awarded Excellence in Financial Services.

Patrice Couvegnes of Banque Saudi Fransi was recognized for his Outstanding Contribution to Banking and Finance.

Two set of Awards to institutions were made: based on peer-votes by the readers of Banker Middle East and the 76,000 registered users of the website; and from the analysis that creates the BME 100 index of regional financial institutions, using metrics derived from published financial data.

The BME 100 is calculated using banks’ own published financial metrics.  Statistics compiled for this exclusive listing of the top 100 banks in the Middle East, show the region’s leading banks controlled assets totalling $2.098 trillion at end-2016, up 5.96 per cent from $1.980 trillion in 2015. Together the top 100 banks made aggregate net profits of $32.031 billion in 2016, falling by one per cent on the previous year ($32.372 billion).

“Our research based on financial institutions’ own published, audited results demonstrates clearly which banks are performing strongly across a range of metrics,” said Robin Amlôt, Chief Executive Officer of CPI Financial.

In the peer-voted categories, Banque Saudi Fransi and Dubai Islamic Bank picked up four Awards each, while Al Khaliji Commercial Bank and International Bank of Qatar won three apiece. Banks taking home two Awards included Al Ahli Bank of Kuwait, Blom Bank, National Bank of Fujairah, National Commercial Bank, Trade Bank of Iraq and Warba Bank.

“Each year, the Banker Middle East Industry Awards reward excellence in financial services, identifying the key players working to help create a prosperous diversified future for all the MENA economies,” concluded Amlôt.

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