Manama, Bahrain: New York-based Global Finance magazine has named the Arab Banking Corporation-Algeria (ABCA), a subsidiary of the Bahrain-based Arab Banking Corporation Group, as the “Best Emerging Markets Bank in Algeria” for the year 2014.
The magazine has recently announced the World’s Best Emerging Markets Banks in Africa in an exclusive survey that will be published in the May issue. Global Finance editors, with input from industry analysts, corporate executives and banking consultants, selected the best emerging markets bank in 31 countries in Africa.
The criteria for choosing the winning financial institutions included growth in assets, profitability, strategic relationships, customer service, competitive pricing and innovative products, the magazine indicated.
“Faced with slowing growth and volatile markets, these banks are star performers under increasingly challenging conditions,” said Joseph D. Giarraputo, Publisher and Editorial Director of Global Finance. “The banks that Global Finance is honouring may not be the largest or oldest, but they are the best at targeting their products and offerings to the specific markets they serve.”
Nour Nahawi, CEO and Managing Director of ABCA, expressed his appreciation of the latest award granted to the Bank. “I am very pleased with this international recognition and independent testimony of ABC Algeria’s pioneering role in Algeria’s banking industry. For the past five years ABC Algeria has been winning the title of Best Bank in Algeria, and now a new title has been granted to the Bank.”
ABC is a leading player in the region’s banking industry and provides innovative wholesale financial products and services that include corporate banking, trade finance, project and structured finance, syndications, treasury products and Islamic banking. It also provides retail banking services through its network of retail banks in the MENA region.