Awards for excellence - Regional awards - Middle East
In a closely-fought contest, Gulf International Bank wrests back its crown as best bank in the Middle East. Morgan Stanley is top in a growing debt market. Julian Marshall
Gulf International Bank
Best debt house:
Best equity house:
Best M&A house:
Salomon Smith Barney
Best at transaction services:
Best at risk management and treasury:
This year Gulf International Bank reclaims the best bank award from its closest rival, National Bank of Kuwait. Again these two contested closely but GIB takes the award.
One leading analyst covering the region points out: "If you're looking at the dominant regional performer, then GIB comes out ahead of NBK. It is particularly strong in wholesale banking but is improving in other areas as well."
These include investment banking, where it is adding to its product range following its acquisition of Saudi International Bank two years ago. GIB has also been developing its project finance franchise.
GIB's earnings in 2000 regained momentum, following an 18% decline in 1999 related to merger costs.