Middle East Awards for excellence 2006 winners
All the financial institutions doing business in the Middle East have had excellent results in the past year. Bank after bank has delivered record profits, with the best showing earnings up by 100% or more.
|BEST BANK: National Bank of Kuwait
BEST INVESTMENT BANK: HSBC
BEST DEBT HOUSE: ABN Amro
BEST EQUITY HOUSE: Credit Suisse
BEST M&A HOUSE: Deutsche Bank
BEST PROJECT FINANCE HOUSE: BNP Paribas
BEST TREASURY AND RISK MANAGEMENT HOUSE: Samba
BEST CASH MANAGEMENT HOUSE: HSBC
It could, however, be the last year of easy profits for all but the best managed of Arab banks. For the financial sector is on the verge of some of the most dramatic changes since the oil boom of the 1970s led to the influx of western banks desperate to recycle petrodollars.