| Global Awards for Excellence | ||
| Outstanding Contribution to Financial Services in the Middle East | ||
| Bahrain | Egypt | Iran |
| Jordan | Kuwait | Lebanon |
| Oman | Qatar | Saudi Arabia |
| UAE | ||
 |
Best bank: MashreqBank Best debt house: Standard Chartered Best equity house: Shuaa Capital Best M&A house: Citi
|
It was a hit and miss year for the UAE’s leading banks. Abu Dhabi Commercial Bank found itself caught up in the US sub-prime crisis, leading to a $152 million writedown in 2007, with the possibility of more to come. Dubai Islamic Bank, too, is undergoing a difficult period after police detained the former chief executive of Deyaar Development, of which DIB owns 41%, as part of an investigation into a possible fraud.
One bank, however, stands out from the pack: MashreqBank.
Although the bank is active in capital markets, its core strengths are in retail and corporate banking.
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