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BAHRAIN |
Best Bank: National Bank of Bahrain | |
Best Investment Bank: Sico Bank | |
National Bank of Bahrain (NBB) wins the award for Bahrain’s best bank this year, having taken advantage of higher interest rates and better provision requirements to boost its activities in the capital markets. All of this helped it to record a net profit of BD71 million ($188 million) for 2022, an increase of 29% year on year. The Manama-headquartered bank, which had total assets of BD4.8 billion at the end of March 2023, was particularly innovative in the digital and environmental, social and governance (ESG) areas.
The bank expanded its range of ESG-related products and services to enable customers to improve their own environmental footprint. This included retail financing for solar power and electric and hybrid vehicles.