The editors, with input from industry experts, used a series of criteria to arrive at their selection. The criteria included market share, number and size of deals, customer service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, and after-market performance of underwritings.
Other criteria included profitability, financial strength, as well as quality of staff dedicated to investment banking. A full report on the world’s best investment banks will be published in the April 2012 issue of Global Finance magazine.
GIB’s awards were won based on the recent successes of its investment banking business. 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.
The award for Best Equity Bank in the Middle East emphasizes GIB Capital’s position as the only investment bank in KSA to have brought at least one transaction to the market every year since 2008 despite difficult market conditions. In 2010, GIB advised on the ALBA IPO in Bahrain, acting as the regional lead manager.
On the debt side, GIB concluded a number of milestone transactions during 2011. 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 successfully arranged a $215 million 5-year Sukuk Al Istithmar for Almana Group in Qatar.
“We are pleased to receive these two prestigious awards that recognize our leadership and achievements in the region’s investment banking field,” Dr. Yahya Alyahya, GIB’s Chief Executive Officer, said.
“GIB and GIB Capital have one of the best 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 corporate advisory services in the region.”
GIB and GIB Capital offer innovative solutions in the fields of financial restructuring, private placements, private sale, IPOs, underwriting equity as well as mergers and acquisitions.