GIB named Best Investment Bank in the Middle East and Best Investment Bank in Bahrain for 2014
GIB has won two awards for Best Investment Bank in the Middle East and Best Investment Bank in Bahrain in the investment banking category of the Global Banking & Finance Review Awards for 2014. This was announced in February in a press release issued by Global Finance magazine.
An Awards Ceremony for all winners will be conducted on 11th October 2014, at The National Press Club in Washington DC, United States of America.
Global Finance stated in their press release that "The past year saw investment banks restructuring and streamlining to focus on core competencies. Restructuring was, and continues to be, an essential step in both dealing with complex new regulatory regimes, under Basel III, Dodd-Frank and EMIR, and increasing return on equity".
"Those banks that excel in this market have focused on controlling costs, managing regulatory developments and employing technology to further both of these goals," said Joseph D. Giarraputo, publisher and editorial director of Global Finance.
With input from industry experts, Global Finance editors used a series of criteria to select the winners for the awards, including market share, number and size of deals, service and advice, structuring capabilities, distribution network effort to address market conditions, innovation, pricing, after-market performance of underwritings, and market reputation.
On this occasion, Mr. Abdulla Al Zamil, the Chairman of GIB Capital said "I am very pleased that GIB Capital has been yet again awarded for its notable achievements. We wish to continue to make sound progress and to offer premier services to our customers".
GIB Capital is the investment banking arm of GIB, offering innovative solutions in the fields of financial restructuring, private placements, private sale, IPOs, bond and sukuk issuance, underwriting equity and debt as well as mergers and acquisitions.
Dr. Yahya Alyahya, GIB's Chief Executive Officer, also commented "These awards are a reflection of the successful business strategy which is predicated on providing innovative customer-centric solutions. We look forward to celebrating more achievements and working on developing innovative solutions for our expanding portfolio of customers".
In 2013, GIB Capital led five major regional investment banking deals including the Kingdom of Bahrain's US$1.5 billion bond issue, a Saudi Riyal 1 billion Sukuk issue by Saudi Binladen, a Saudi Riyal 677 million debt re-profiling and a Saudi Riyal 200 million rights issue for the Middle East Specialised Cables Company (MESC), and advised Saudi Aramco Mobil Refinery Company in raising multicurrency debt financing.