Arab Bank, one of the largest financial institutions in the Middle East, has secured the “Best Bank in the Middle East 2021” award from the New York-based Global Finance magazine, for the sixth year in a row.
This global recognition came as part of Global Finance’s 28th Annual Best Bank Awards. The selection of the winner was made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world.
According to the statement, “In selecting best banks, Global Finance considered factors that ranged from the quantitative objective to the informed subjective.” The objective criteria considered growth in assets, profitability, geographic reach, strategic relationships, new business development, and innovation in products. Whereas, the subjective criteria comprised the opinions of equity analysts, credit rating analysts, banking consultants, and others involved in the industry.
“Receiving this global recognition for the sixth consecutive year is a testament to the strength of the bank’s business model and its ability to deliver strong performance across its regional network despite the exceptional circumstances and challenges posed by the COVID-19 global pandemic. The bank continues to provide comprehensive banking solutions to its customers across various sectors locally and regionally, in addition to its focus on keeping pace with the latest technological developments in the banking industry, in line with its comprehensive strategy and ambitious future vision.”
Global Finance Awards cover more than 150 countries and territories across Africa, Asia-Pacific, the Caribbean, Central America, Central, and Eastern Europe, Latin America, the Middle East, North America, and Western Europe.
Headquartered in Jordan, Arab Bank serves clients in more than 600 branches spanning five continents. Arab Bank is a publicly held shareholding company listed on the Amman Stock Exchange. The bank is a major economic engine in Jordan and throughout the Middle East and North Africa (MENA) region, providing banking services and capital, and facilitating development and trade throughout the region.