UAE-based Banker Middle East magazine has named Gulf International Bank (GIB) as the Best Project Finance House in the region. An award-giving ceremony was organized by the magazine in the Kingdom of Bahrain on 16th May 2005.
Nigel Rodrigues, Chief Operating Officer of Corporate Publishing International, which publishes Banker Middle East, said: “I would like to congratulate GIB for winning this award. This is a clear recognition of the Bank’s efforts and achievements over the last 12 months. Furthermore, to be voted as the best project finance house by competing banks and financial institutions is an impressive accomplishment by itself.”
He added: “The Banker Middle East awards have been designed to encourage, inspire and reward excellence within the banking community. Moreover, it is essential to recognize the financial institutions that are leading the regional industry.”
Dr. Khaled M. Al-Fayez, GIB’s Chief Executive Officer, commented: “We are pleased with this new award, which reflects a recognition by the market players of GIB’s contributions in the development of project finance in the region. What makes the Bank stand out is the fact that it not only has been the most active and consistent provider of finance in the region for many years, but also it has been the leading regional underwriter and distributor of project and structured debt across all the GCC countries.”
Besides lending, explained Dr. Al-Fayez, GIB provides project finance advisory services through a separate dedicated team and assists regional private sector sponsors in raising equity for financing projects. This capability of offering a whole range of products and the Bank’s track record of acting as a reliable bridge between the regional players and international banks have secured GIB a unique place in the global and regional debt markets, particularly in the project and structured finance field.
GIB has been at the top of the Middle East’s regional project finance league tables for five consecutive years, as rated by trade publications such as Project Finance International, Euromoney and MEED, and by Dealogic ProjectWare, a UK-based global database covering project finance deals.
Bahrain-based Gulf International Bank B.S.C. is a leading merchant bank in the Middle East with its principal focus on the Gulf Cooperation Council (GCC) states. It is one of the largest regional banks in the GCC, with more than $26 billion of its own assets and in excess of $18 billion of clients’ assets under management. With a proven track record spanning more than 30 years, GIB provides client-led, innovative financial products and services to a wide customer base in the region, including investment banking, asset management, project and structured finance and Islamic banking.
