(MENAFN - Arab News) Gulf International Bank (GIB) has been named by The Banker magazine (owned by the Financial Times Ltd.) as the Most Innovative Investment Bank from the Middle East in 2012.
Winners of The Banker's Investment Banking Awards were announced in London recently.
The magazine's key criteria for granting the awards were innovation and genuine value creation for clients and markets. Its distinguished panel of independent judges looked for innovative transactions that generated cost savings, risk reduction and real returns for clients.
GIB Chairman Jammaz Al-Suhaimi said: "We are pleased to receive such a unique and prestigious award that recognizes the bank's leadership and achievements in the field of investment banking in the region. We are also delighted to know that GIB was the only bank from the Middle East to receive an investment banking award from The Banker this year."
Yahya Alyahya, the bank's CEO, said: "GIB and its investment services subsidiary GIB Capital have one of the best and largest investment banking teams in the GCC and have completed a number of milestone transactions over the past two decades. This reflects our commitment to further strengthening GIB's status as a leading provider of innovative corporate advisory services in the region."
GIB's awards were won based on the recent successes of its investment banking business.
On the debt side, GIB concluded a number of major transactions in the past couple of years.
GIB and GIB Capital offer innovative solutions in the fields of financial restructuring, private placements, private sale, IPOs, underwriting equity as well as mergers and acquisitions.
The bank provides client-focused, innovative financial products and services to a wide customer base in the region, including asset management, IPOs, private equity placement, mergers and acquisitions, sukuk/bond issues and Shariah-compliant banking services.