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.
“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,” Jammaz Al-Suhaimi, GIB’s Chairman, 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,” Dr. Yahya Alyahya, the Bank’s Chief Executive Officer, said.
“Earlier this year GIB was also named by New York-based Global Finance magazine as the “Best Equity Bank in the Middle East” and the “Best Investment Bank in Bahrain.” Moreover, The Banker magazine’s Deal of the Year 2012 title for the Islamic Finance-Middle East category was given to Almana Group’s US$215 million Sukuk issuance, in which GIB played the role of sole book runner and joint lead manager,” Dr. Alyahya added.
GIB’s awards were won based on the recent successes of its investment banking business. In 2012, GIB acted as joint book runner and joint lead arranger of the US$ 1.5 billion bond issuance by the Kingdom of Bahrain. In 2011, GIB Capital – GIB’s fully owned, Riyadh-based subsidiary – advised on the Hail Cement Company IPO of SAR 489.5 million in the Kingdom of Saudi Arabia (KSA). This was the largest IPO of the year in KSA and the second-largest IPO in the entire region in 2011.
On the debt side, GIB concluded a number of major transactions in the past couple of years. The Bank arranged SAR 8.5 billion contracting facilities for the Saudi Binladin Group for the expansion and development of King Abdulaziz International Airport in Jeddah. In addition, GIB Capital acted as joint lead manager and joint book runner for Ajil Financial Services Company’s privately placed SAR 500 million Sukuk, issued via Ajil Cayman – a limited liability special-purpose company incorporated in the Cayman Islands.