Month: March 2009

AHLI UNITED BANK NAMED ‘BEST BANK IN THE MIDDLE EAST 2009’ BY GLOBAL FINANCE MAGAZINE

Ahli United Bank has been named ‘Best Bank in the Middle East 2009’ by reputed New York-based banking publication Global Finance magazine. In addition, AUB was also recognized as the ‘Best Bank in Bahrain’.

This marks the fourth consecutive year AUB has won this prestigious accolade in Global Finance’s survey of “Best Emerging Markets Banks in the Middle East”, in yet another testimony to the Bank’s leading position across the Middle East.

“We are very pleased to be named best bank in the Middle East by the highly regarded Global Finance, as this award recognizes our continued efforts to achieve operational excellence and provide best in class products and services. As the banking industry continues to grapple with the ramifications of the global financial crisis, this award underlines the strong fundamentals of AUB franchise, which remains well placed to weather the current market conditions and deliver outstanding results to our stakeholders and valued customers,” said Fahad Al-Rajaan, Chairman, AUB.

This is the sixteenth year that Global Finance magazine, one of the banking sector’s leading publications, has selected top banking performers in emerging markets. For its annual surveys, Global Finance editors with input from industry analysts, corporate executives and banking consultants select the best banks by region and by country, including 13 countries in the Middle East. Criteria for selecting the winners included growth in assets, profitability, strategic relationships, customer service, competitive pricing and innovative products.

“We are in an unusually challenging environment for banks and their customers,” said Joseph Giarraputo, publisher of Global Finance. “More than ever, customers are demanding superior competence from their banking partners. These are the banks best providing that competence.”

AHLI UNITED BANK WINS PRESTIGIOUS EUROWEEK AWARD FOR US$ 800 MILLION SYNDICATED LOAN FACILITY

Ahli United Bank (AUB) has received three prestigious awards from Euroweek, a leading provider of information on global capital markets, for securing a successful US$ 800 million loan facility in September last year. Despite the weakened economic conditions that prevailed then, which challenged the ability of many banks to raise funding, AUB’s syndicated loan was substantially oversubscribed and was, in fact, the largest sum raised by a GCC bank in 2008.
In its Annual Review 2008 and Outlook 2009 Awards issue, Euroweek named AUB’s loan facility “Best Middle Eastern Loan for Financial Institutions” and “Best Bahraini Loan”. In addition, the bank was awarded “Best Bahraini Loan Borrower” ahead of two other prominent, local institutions.

Euroweek’s renowned awards are conferred on the basis of data collected from the publication’s annual poll of market participants including bankers, borrowers and investors to ascertain the best transactions and overall best banks and borrowers in various categories across different countries.

“It is rewarding to be recognised by Euroweek for a major deal that bucked the prevailing trend in capital markets. The overwhelming response to the facility despite difficult market conditions speaks volumes of AUB’s leading reputation and the underlying confidence that participating banks have in our long term strategies and core values,” said David Hatton, Group Head, Financial Institutions, AUB.

28 banks from across the Middle East, Europe, North America and Asia participated in AUB’s US$ 800 million syndicated loan facility. The loan facility was arranged by Bayern LB, Commerzbank, Lloyds TSB Bank, Mizuho Corporate Bank and The Royal Bank of Scotland.

Earlier this month AUB was named ‘Best Trade Finance Provider in Bahrain’ 2009 by New York-based international finance publication, Global Finance.

AUB was also recently named ‘Bank of the Year – Bahrain 2008’ by The Banker magazine and ‘Best Foreign Exchange Bank Middle East’ from Global Finance, for the third consecutive year.