AUB named ‘Bank of the Year Mid­dle East 2016’ by Banker

Kuwait Times - - BUSINESS -

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.”

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