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| © 2018 Euromoney |
Bankers from across the Middle East gathered to attend the Euromoney Middle East Awards for Excellence dinner at Grosvenor House Hotel in Dubai on Tuesday.
The awards recognized banks that stood out during a year when it became clear that reform in the Middle East is not just about dynastic change. Across the region, banks are adapting to changing economic conditions, while activity in the capital markets remains robust with the promise of much more to come.
Dubai’s Emirates NBD was named the Middle East’s best bank.
Euromoney said: “The success of Emirates NBD owes much to its forward thinking in recent years, as it strove to ready itself for the future by completely revamping its digital offering. Last year the bank completed its five-year digital transformation.
“The changes introduced in 2017 included paperless personal loan applications and account openings, a new online banking platform, face-to-face conversations online with a financial adviser, voice recognition for phone banking, access to Apple and Samsung Pay, and the integration of blockchain technology into cheques.
“Such innovative features are, in today’s banking world, central to a bank’s success.”
In a highly competitive field, Citi stood out as the Middle East’s best investment bank.
Presenting the award, Euromoney cited Citi’s “return to rival-beating form last year, showing rare leadership of both financing and advisory. It increased its share of debt capital market volume and rose up Dealogic’s equity and M&A league tables too.
“It also remains committed to smaller and more difficult markets, as in its leadership of Iraq’s first standalone bond in over a decade, raising $1 billion, and in Jordan’s $1 billion debut 30-year bond.”
Other regional awards were similarly split between local banks and those with a global platform. HSBC was named best bank for financing after an impressive year in both debt and equity markets; Moelis & Co won the best bank for advisory; and Standard Chartered was named best bank for transaction services.
Mashreq Bank was named best digital bank in the Middle East in a year when more of the region’s banks embraced the challenge of technology.
A number of Middle Eastern banks are taking a prominent role in the development of ESG-related activities, with AlexBank winning the award for best bank for corporate social responsibility, and Arab African International Bank taking the inaugural prize for sustainable finance.
View the Middle East results online now
The Euromoney Awards for Excellence, launched in 1992, were the first of their kind in the global financial publishing industry.
Euromoney’s Awards remain the hardest to win, and the most sought-after, in the global banking industry.
Euromoney’s award decisions are made by a committee of senior journalists, chaired by Euromoney’s editor, following the receipt of detailed submissions from market participants and extensive year-round research into the banking and capital markets in the region by our editors, journalists and research team.
Euromoney’s Awards for Excellence cover more than 20 global product categories, best-in-class awards in all regions and the best banks in close to 100 countries around the world.
Access the results
Please contact Patrick McCulloch on +44 2895 912905, patrick.mcculloch@euromoneyplc.com or subscribe online.
