AUB named ‘Bank of the Year Middle East 2016’ by Banker
Ahli United Bank (AUB) has been recognized as “Bank of The Year - Middle East 2016” by The Banker, the world’s longest running international banking magazine and member of the Financial Times Group. This represents the second time that AUB has received this prestigious award.
The announcement was made at the official ‘Bank of the Year Awards 2016’ gala event, held recently in London and attended by senior bankers from around the world. Aimed at rewarding and promoting industry wide excellence in the global banking community, the award’s judging panel noted that AUB has “made the most progress over the past 12 months; not only in terms of the bank’s strong financials, but also in the wide range of initiatives which the bank undertook during this period”.
The Banker listed the launch of a new wholly owned AUB subsidiary bank in Dubai International Financial Centre, increasing ownership of its insurance joint venture to 100 percent, increasing the paid-up capital in AUB’s Egyptian subsidiary and the full conversion of its Libyan affiliate to a Sharia-compliant bank despite a very challenging and operating environment as the key factors in winning the regional award. The Banker went on to say that this regional title “is testament to the strong management, sound business model and strategy of AUB”. Accepting the award on behalf of AUB, Group CEO & Managing Director Adel El-Labban said:” We are honored to receive this prestigious award from a leading authority such as The Banker for the second time. This repeat award is a fitting tribute to the continued loyalty and support of our shareholders and customers, to the dedication and professionalism of our team across the AUB Group and to our commitment to excellence in all our efforts to achieve our well defined business strategy and vision.”
El-Labban added :”AUB is very proud to be selected by the industry as a leader in regionalization initiatives and for the recognition given to its various ongoing organic and inorganic business development initiatives across its home markets in the GCC and MENA countries.”