AFG launches Sky Bridge complex in New Capital    Dahab Development opens reservation for ITC project at New Capital    Egypt is Canada's top trading partner in Africa: Ambassador Louis Dumas    Hope Givers Foundation honours Egyptologist Ali Abu Dashish    EJB forms new board, pledges to support national economy    Travel bans due to Omicron "hammer blow" to South Africa's local economy recovery: official    Egypt celebrates Day of Mediterranean    MICO entertainment platform enters Egyptian market    Health Ministry advises public to adhere to protective measures to tackle Omicron variant    Art D'Egypte concludes 4th contemporary art exhibition "Forever is Now" at Giza Plateau    Austrian Cultural Forum in Cairo to launch exhibition highlighting Arab-Austrian ties    Egypt, Israel sign deal sign MoU to increase gas supplies, hydrogen transport    Egypt's stocks end week in green as benchmark EWX 30 surges 0.69%    Mortada Mansour sets road map for Zamalek, after normalization committee depart    I seek to secure stable financial sources to build strong judo team: Motei Fakhr El-Din    Egyptian karate players dazzle world in UAE    Orascom Construction joins consortium to develop Egypt's first green hydrogen production facility    Egypt's high committee to organise COP27 convenes to review preparations    98 potential candidates run for Libyan presidency    'Lake Victoria – Mediterranean' navigation corridor awaits feasibility studies, funds: official    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Palestine's Foreign Ministry rejects UK's decision to designate Hamas as terror group    Egypt selected to host COP27 international climate conference in 2022    Number of British tourists to Egypt seen hitting 500,000 this winter – envoy    The unvaccinated prohibited from entry to Egypt state institutions starting December 1    Egypt, Greece ink deal for first subsea power link between Europe and Africa    SCOHRE sparks discussion on harm reduction, tobacco control    Egypt to receive first of six high-trains from Spain's Talgo in mid-November    Egypt's iron and steel exports jump 197% in 8 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    Brazil calls up 8 EPL players for World Cup qualifying    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Sisi calls on House, Senate to commence second legislative sessions on 3, 5 October    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    Qa'a play showing at Lycee El Horreya Theatre, Alexandria is a must go    APO Group enters new exclusive agreement with Getty Images on African press releases and images    On International Museum Day, Egypt opens two new museums at Cairo Airport    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

AAIB recognized as best investment bank in Egypt
Published in Daily News Egypt on 02 - 10 - 2011

CAIRO: The Arab African International Bank (AAIB) has been recognized by New York-based Global Finance magazine as the best investment bank and best foreign exchange bank in Egypt for 2011, the bank announced on Sunday.
Egypt-based AAIB was awarded after Global Finance made extensive consultations and discussions with bankers, global analysts, and financial executives from around the world.
“Global Finance magazine recognition for AAIB as the Best Investment Bank & the Best Foreign Exchange Bank in Egypt for this year emphasizes AAIB's leadership & commitment towards outstanding customer service and operational and technical excellence in the Egyptian market since 1964,” said Hassan Abdullah, CEO of Arab African International Bank in a released statement.
The award is based on the bank's management and overall financial performance in the Egyptian market over the course of 2010.
“The Arab African Bank remains keen on developing and adopting the highest standards of performance in the banking industry, as well as providing distinguished customer-centric banking solutions that answers current and future needs of the Egyptian market; where AAIB continues to follow an expansion strategy that aims ultimately at fulfilling this market's investment challenges” Abdullah added.
Global Finance uses various criteria for choosing the winners in this yearly award. These criteria include feedback from industry experts and analysts, technology experts, and corporate executives.
The magazine also monitors the banks' financial performance, services, key capabilities, earnings, return on equity and market share, as well as deal structuring capabilities.
“The investment banking industry has changed as a result of the financial crisis; the best institutions are those that have a business model focused on customer needs," said Global Finance publisher Joseph D. Giarraputo in the released statement.
“Sovereign debt problems in Europe, China's monetary tightening and the Federal Reserve's quantitative easing are causing volatility in the foreign exchange markets. Corporations around the world need to select a strong, knowledgeable FX bank to help them cope with the turbulence in the markets," Giarraputo noted.
The criterion for the awards also includes the bank's market share, scope of global coverage, innovative financing and new product introduction, and after-market performance of underwritten securities.
Global Finance, one of the world's largest financial information publications, mainly focuses on helping corporation leaders, investors, and bankers to develop in the path of global finance and trade.
AAIB was established in 1964 in Egypt as the first Arab multinational bank. The bank was established on a special law as a joint venture between Egypt's Central Bank and Kuwait Investment Authority.

Clic here to read the story from its source.