FGB named Best Bank in the UAE for third year in a row and Best Bank in the Middle East

FGB has been named Best Bank in the UAE for the third year running and Best Bank in the Middle East at the 2015 Banker Middle East Industry Awards. The awards were recently presented to bank representatives during an awards ceremony at the Emirates Towers Hotel in Dubai.

Organised by CPI Financial, the Banker Middle East Industry Awards recognise financial excellence throughout eight different countries in the region. Over 200 institutions from across the Middle East, including the UAE, Qatar, Saudi Arabia, Oman, Kuwait, Bahrain, Jordan and Lebanon were amongst this year’s nominees. The awards cover a variety of financial services including retail, corporate, investment, private banking, asset management, fund management, finance companies and consultancy practices.

André Sayegh, CEO of FGB, said: “The past year has been a very exciting one for FGB and these awards are a reflection of the significant progress we’ve made towards achieving our strategic ambitions. We have continued to deliver a strong financial performance, enhanced our product and service capabilities, strengthened our global footprint and diversified our revenue sources. We are looking towards the future with optimism and we are very proud to see our customers making FGB their “First Choice”, as we put them first.”

The Banker Middle East Industry Awards are judged through a combination of published audited financial statements, along with a peer-vote process involving registered readers of the Banker Middle East, Islamic Business & Finance, Wealth Arabia and Finance ME, as well as users of www.cpifinancial.net.

Robin Amlôt, Chief Executive Officer of CPI Financial, publisher of the Banker Middle East, said: “For the third year in a row, FGB has been named the Best Bank in the UAE and, for the first time, Best Bank overall in the analysis carried out to create the BME 100, our annual ranking of the top-performing financial institutions in the Middle East.”

He continued: “Our research based on financial institutions’ own published, audited results demonstrates clearly which banks are outperforming their peers and provides clear and unarguable proof of the healthy growth and overall improving performance of the industry.” 

The BME 100 is calculated using banks’ own published financial metrics. Statistics compiled for this exclusive listing of the top 100 banks in the Middle East, show the region’s leading banks controlled assets totalling USD 1.987 trillion at end-2014, up from USD 1.8 trillion in 2013. Together the top 100 banks made aggregate net profits of USD 34 billion in 2013, rising 21% on the previous year (USD 28 billion).