Dubai – 22 June, 2011 – CPI Financial today revealed the 45 winners of the Banker Middle East Industry Awards 2011 at a gala dinner at the Ritz Carlton, DIFC, in Dubai. The 11th annual Banker Middle East Industry Awards brought together more than 400 distinguished regional and global industry experts and decision-makers, to honour and celebrate excellence in the MENA banking and finance industry.CPI Financial has introduced new rigour and greater transparency into the awards process, undertaking quantitative analysis to identify the region’s leading financial institutions. This groundbreaking research takes account of banks’ assets, liabilities, total income, net profit and return on assets across eight countries.1
“For the first time, Middle East investors, shareholders and consumers will be in a position to understand the real relative performance of financial institutions and be able to compare their results easily and quickly against others in the region,” said Adam Broom, Chief Operating Officer of CPI Financial.
Compiled as the CPI Financial 100, the top 100 banks in the Middle East controlled assets worth a staggering $1.4 trillion and together made aggregate net profits of $21.7 billion in 2010, rising 24.28 per cent on the previous year. The analysis took account of the actual size of each measure, annual dollar growth and percentage growth thus clearly identifying the best banks in the region as well as the fastest growing institution in each country.
“For too long, many awards programs in the region have demonstrated no clear methodology or justification in the selection of their winners. Now CPI Financial has chosen clear and transparent performance indicators collated from institutions’ annual reports,” added Broom.
The Banker Middle East Industry Awards recognise both corporate and individual distinctions amongst top performers in the industry. Adel A. El-Labban, Group Chief Executive Officer & Managing Director, Ahli United Bank, was honoured with the ‘Lifetime Achievement Award’.
The other individual awards were presented to HE Abdul Aziz Abdulla Al Ghurair, Chief Executive Officer, Mashreq, and Ali Shareef Al-Emadi, Group Chief Executive Officer, Qatar National Bank, for ‘Outstanding Contribution to the Industry’ and ‘Banker of the Year’ respectively.
“For more than a decade, the Banker Middle East Industry Awards have been setting the benchmark for successful banking and financial institutions in the MENA region. This latest evolution in our Awards process ensures that we will continue to do so,” said Robin Amlôt, Managing Editor of CPI Financial. “We are proud of our analysis and we take pride in being able to honour the region’s banks and financial institutions – an industry which has led and continues to lead the development of the MENA economies in building opportunities for the future.”
For a full list of winners: click here
- CPI Financial (themarketbuzz.net)