MENA’s international banking powerhouse becomes the third time winner of this prestigious title by The Banker, Financial Times, underscoring the Bank’s accelerated performance, innovation and digitization initiatives that have introduced a new kind of banking experience across its markets of presence.
Manama, Kingdom of Bahrain: Bank ABC, one of MENA’s leading international banks, has been declared the ‘Bank of the Year in Bahrain- 2023’ by The Banker – Financial Times. The Bank emerged as the third time winner of this prestigious title at an awards ceremony held in London on 30th November 2023, and attended by members of the senior management team among the other top executives from the world’s leading financial institutions.
This years’ contenders were judged on their ability to deliver strong financial performance while turning challenges into opportunities amid a fast-evolving business environment. Bank ABC excelled on both fronts as it demonstrated consistent financial growth in recent years, and accelerated the development of its agile, innovative, and sustainable ‘bank of the future’. The Bank continues on its trajectory of growth, recording an outstanding 61% increase in year-on-year net profits for the nine months ended September 2023.
H.E. Saddek Omar El Kaber, Chairman of Bank ABC Group remarked: “We are honored to win the ‘Bank of the Year’ title for the third time. The award further emboldens our ambitions, as the Bank steers itself and the industry towards the future, forging a new financial ecosystem that rewards innovation, agility, sustainability and inclusion. On behalf of the Group, I thank The Banker for recognising our commitment and our clients for their trust and confidence in our services. I also extend my heartiest congratulations to the management and staff of the Bank ABC Group on this outstanding achievement.”
Mr. Sael Al Waary, Group CEO of Bank ABC added: “Bank ABC is committed to delivering a new kind of banking experience catering to the ever-evolving needs of clients. This award builds on the strong momentum of growth and success we’ve achieved in 2023, accelerating our digital transformation initiatives, expanding our reach, and having launched a refreshed strategic direction to serve as MENA’s international bank of the future. I am extremely proud of the collective achievements of Bank ABC colleagues across five continents, which enabled this remarkable win.”
On Bank ABC’s performance, Joy Macknight, Editor of The Banker said: “In an extremely competitive country category, Bank ABC has outshone its peers to win Bahrain’s Bank of the Year crown in 2023. The award recognises the Bank’s strong financial performance, meaningful progress in its digital transformation programme and the finalisation of its acquisition of Blom Bank Egypt. Congratulations to Bank ABC and its staff.”
Over the past year, Bank ABC has focused on futureproofing its Wholesale Banking offering, starting with its Global Transaction Banking (GTB) business. This included innovative digital deployments that offer greater connectivity, speed, and self-service customer journeys. Notable achievements include the launch of next-generation Documentary Trade and Supply Chain Finance platforms, rollout of a seamless digital corporate onboarding service across fifteen markets, and introduction of an instant blockchain cross-border payment service leveraging the JP Morgan Coin System. The Bank also launched the first phase of its Corporate Portal, which will serve as the digital gateway to the Bank ABC universe of products and services.
Mr. Saddek Omar El Kaber
Chairman of the Board
Mr. Sael Al Waary
Group CEO of Bank ABC
Joy Macknight
Editor of The Banker