New York-based Global Finance magazine has announced the winners of its World’s Best Investment Banks Awards for 2013. Gulf International Bank (GIB) has won the title Best Investment Bank in Bahrain.
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 2013 issue of Global Finance magazine.
GIB’s award was won based on the recent successes of its investment banking business. The Bank, for example, was mandated in 2012 as joint lead manager and joint book runner for a very well received US$ 1,500 million bond issue by the Kingdom of Bahrain that was four times over-subscribed. In Saudi Arabia, GIB Capital, the investment services subsidiary, was mandated as joint lead manager and joint book runner for a privately placed SAR 500 million three-year amortizing Sukuk for Ajil Financial Services.
GIB Capital also concluded last year several debt advisory mandates including Al Kifah Holding Company’s SAR600 million syndicated Murabaha facility; Al Mana Group’s QR 1.2 billion refinancing facility and the Middle East Specialized Cables’ SAR 677 million refinancing facility.
“We are pleased to receive this prestigious award for the second year in a row. This award recognizes 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,” he added.