Middle East country category winners 2023: Best corporate bank in Bahrain: Bank ABC
In a period marked by rapid technological evolution across its entire business, Bank ABC has made several digital enhancements to its corporate product offering. The bank has been named best corporate bank in Bahrain this year in recognition of these transformative efforts, alongside its involvement in a number of important regional transactions.
The banks in each market that have excelled across a range of core banking activities over the past 12 months.
The domestic bank launched digital corporate customer onboarding this year. The service, which was made available to all the bank’s 15 global units throughout 2022, enables clients to open an account in under eight hours – substantially faster than the 60-day industry average.
The bank also introduced improvements to its transaction services offering. It launched the first module of its front-end channel for trade finance, a tool that enhances integration with import clients.
It also completed the first phase of its trade operations-hub project, which enhances automation. In supply-chain finance, the bank’s backend solution was complemented with a front-end customer interface, a feature that enables corporate clients to easily initiate letters of credit, guarantees and collections.
Bank ABC’s headline deals include arranging a $400 million dual-tranche syndicated term loan for Oman-based BankDhofar, a $75 million term loan facility for Industrial Bank of Kuwait and a $100 million term-loan facility for Agricultural Bank of China.