QNB was named Best Bank in the Middle East at the Euromoney Middle East Awards for Excellence 2014 dinner in Dubai on Wednesday evening. It is the first time that the bank has won this coveted award.
HSBC retained the award for Best Investment Bank in the Middle East for 2014.
Nemeh Sabbah, the chief executive of Jordan’s Arab Bank, won the award for Outstanding Contribution to Financial Services in the Middle East.
The awards were presented at a gala dinner in Dubai attended by bankers from the region’s leading financial institutions.
Commenting on QNB’s accolade, Euromoney editor Clive Horwood said, “The regional strength of this year’s winner can no longer be ignored. It is by a distance the biggest house in the region on every metric. This was the year in which a great deal of acquisitive activity in previous years was bedded down and turned productive. The bank is taking advantage of the big-spending gumption of its home country and is using its heft to create a regional force.”
Commenting on the significant achievements, Ali Ahmed Al-Kuwari, Acting Group Chief Executive Officer, said, “This is a notable milestone for the QNB Group and continues the impressive momentum delivered over recent years. Our rapid and sustained domestic and international growth is underpinned by robust financial performance and we are now operating across 26 countries and 3 Continents. Our focus remains to deliver enhanced shareholder returns through the delivery of sound and progressive strategic planning. This will both continue to drive our approach and develop our international footprint. Recognition of our ongoing performance from an esteemed and respected publication of the standing of Euromoney helps continue this momentum and we are especially delighted to have received the prestigious “Best Bank in The Middle East” Award.”
The Euromoney Awards for Excellence are the global benchmark for the global banking industry.