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Bank Audi sal - Audi Saradar Group was granted the “Best Bank in Lebanon” award at the 2009 Euromoney Awards for Excellence Middle East ceremony. The gala dinner, which took place on June 9, 2009 at the Four Seasons Hotel in Doha – Qatar, was hosted by Euromoney and attended by around 200 prominent guests comprising top executives of the regional banking sector and financial institutions. This prestigious recognition is one of a series of awards which reinforce Audi Saradar Group’s leadership as regards to Euromoney awards, confirming its positioning as the most awarded Lebanese banking institution by Euromoney.
On this occasion, Mr. Simon Brady, Managing Director – Euromoney, stated: “As the Lebanese banking sector continues its development and performs a greater role in the growth of the Lebanese economy, banks will increasingly have to generate fee-based income in this low rate environment. In 2008, Audi’s fee-based income grew about 40%, comfortably outstripping other major banks in the country and setting a solid foundation for further growth.”
Dr. Georges Achi, Chairman and General Manager of Bank Audi sal - Audi Saradar Group, commented: “We truly appreciate being selected by Euromoney as Best Bank in Lebanon, as an acknowledgement of the sustained efforts in consolidating our leadership in the domestic market, as witnessed by the increased size differential with our direct peers, and in diversifying our asset classes translating into a better balanced breakdown of our income over interest and non-interest income on one side, and over business segments on the other side. This has actually improved the quality of our earnings, and thus their immunity against trend reversals in the market at large. Such recognition from Euromoney actually means a lot to us and represents an additional incentive to pursue our efforts in all areas of business development.”
Euromoney Magazine has been the voice of international capital markets for 40 years, offering unparalleled coverage of the global bond, equity and foreign exchange markets. Its annual Awards for Excellence program has been running for 18 years and forms a benchmark for financial institutions featuring high-quality products and services across all areas of commercial and investment banking. The selection of Best Bank Awards is based on quantitative and qualitative criteria over the examined 12-month period. This year’s awards process has attracted over 300 submissions from around 70 banking institutions in the Middle East.
Founded in Lebanon in 1962, Bank Audi sal - Audi Saradar Group is a regional Bank with three fully owned subsidiaries in Lebanon, two in Europe, 5 in the Middle East and North Africa, a branch network in Jordan and a representative office in Abu Dhabi – United Arab Emirates. Bank Audi has a universal banking profile covering commercial, retail, private and investment banking activities, in addition to bancassurance. At end March 2009, consolidated assets of the Bank reached US$ 20.7 billion and US$ 27 billion when including fiduciary deposits, security accounts and assets under management. Shareholders’ equity stood at US$ 2 billion. Bank Audi is currently the largest bank in Lebanon and one of the leading Arab banking groups in the region.
On this occasion, Mr. Simon Brady, Managing Director – Euromoney, stated: “As the Lebanese banking sector continues its development and performs a greater role in the growth of the Lebanese economy, banks will increasingly have to generate fee-based income in this low rate environment. In 2008, Audi’s fee-based income grew about 40%, comfortably outstripping other major banks in the country and setting a solid foundation for further growth.”
Dr. Georges Achi, Chairman and General Manager of Bank Audi sal - Audi Saradar Group, commented: “We truly appreciate being selected by Euromoney as Best Bank in Lebanon, as an acknowledgement of the sustained efforts in consolidating our leadership in the domestic market, as witnessed by the increased size differential with our direct peers, and in diversifying our asset classes translating into a better balanced breakdown of our income over interest and non-interest income on one side, and over business segments on the other side. This has actually improved the quality of our earnings, and thus their immunity against trend reversals in the market at large. Such recognition from Euromoney actually means a lot to us and represents an additional incentive to pursue our efforts in all areas of business development.”
Euromoney Magazine has been the voice of international capital markets for 40 years, offering unparalleled coverage of the global bond, equity and foreign exchange markets. Its annual Awards for Excellence program has been running for 18 years and forms a benchmark for financial institutions featuring high-quality products and services across all areas of commercial and investment banking. The selection of Best Bank Awards is based on quantitative and qualitative criteria over the examined 12-month period. This year’s awards process has attracted over 300 submissions from around 70 banking institutions in the Middle East.
Founded in Lebanon in 1962, Bank Audi sal - Audi Saradar Group is a regional Bank with three fully owned subsidiaries in Lebanon, two in Europe, 5 in the Middle East and North Africa, a branch network in Jordan and a representative office in Abu Dhabi – United Arab Emirates. Bank Audi has a universal banking profile covering commercial, retail, private and investment banking activities, in addition to bancassurance. At end March 2009, consolidated assets of the Bank reached US$ 20.7 billion and US$ 27 billion when including fiduciary deposits, security accounts and assets under management. Shareholders’ equity stood at US$ 2 billion. Bank Audi is currently the largest bank in Lebanon and one of the leading Arab banking groups in the region.
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