Arab Bank wins Euromoney Best Bank Award.The award was presented to the bank during a special ceremony held in Dubai Dubai (d  bī`), sheikhdom (1995 pop. 674,101), c.1,500 sq mi (3,890 sq km), part of the federation of seven United Arab Emirates, SE Arabia, on the Persian Gulf. , attended by Executive Vice President and Director of the
Chairman/CEO Office Ms. Dina Shoman and top Arab Bank The Arab Bank, formed in 1930, is a prominent financial institution in the Arab world, with 400 branches and offices in 25 countries.[1] Its parent company is Arab Bank plc incorporated in Amman, Jordan, where its headquarters are also located. executives as well
as representatives of the key financial institutions, with intensive
media coverage.
Euromoney Awards for Excellence are given for high-quality and innovative services and products across all areas of commercial and investment banking. Commenting on the achievement, Ms. Shoman said that such awards and the high rankings See Google bomb. Arab Bank receives from international rating agencies reflect the Bank's successful plans and strategies and encourage it to always build on the good reputation it has gained as a bank of excellent performance, high level services and a dedicated and persevering per·se·vere intr.v. per·se·vered, per·se·ver·ing, per·se·veres To persist in or remain constant to a purpose, idea, or task in the face of obstacles or discouragement. team that is always aspiring as·pire intr.v. as·pired, as·pir·ing, as·pires 1. To have a great ambition or ultimate goal; desire strongly: aspired to stardom. 2. to take the Bank to the next level. She said the excellent performance of the Bank is underlined by the various awards it has harvested, which reflect its deep understanding of developments in the banking sector and its ability to keep up with these changes and to stand up to the challenges and the tough competition in the market. The outcome is an advanced status at the local and regional level, the senior executive said. Shoman noted that Arab Bank, whose branch network spans over 29 countries in five continents, works constantly on consolidating its regional and international presence to reach out to a wider customers' base, underlining un·der·lin·ing n. 1. The act of drawing a line under; underscoring. 2. Emphasis or stress, as in instruction or argument. in this context the recent acquisition deal under which Arab Bank now controls 19% of the Libyan Wahda Bank. She also indicated that the Bank has recently launched further banking services that meet its changing customers' needs, along with launching new funds through its investment arms such as AB Capital and AB Invest. One of these, AB Asia Dynamic Bank Fund, has won the prestigious Lipper's Best Fund Award. Arab Bank Group posted in the first quarter of 2008 record pre-tax profits that stood at $295 million, with assets growing to $40.5 and shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. to $7.1 billion. The Euromoney award joins a long list of other such recognitions and high ratings Arab Bank has won. It has been recently selected by Global Finance magazine as the Best Bank in Jordan and Yemen and the Best Financing bank in the Middle East in 2008. [c] 2008 Al Bawaba (www.albawaba.com) |
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