ABC Algeria wins Global Finance award
Manama, April 20, 2014
New York-based Global Finance magazine has named the Arab Banking Corporation-Algeria (ABCA) as the "Best Emerging Markets Bank in Algeria" for 2014.
ABCA is a subsidiary of the Bahrain-based Arab Banking Corporation Group, reported the Gulf Daily News, our sister publication.
The magazine has 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 Global Finance publisher and editorial director Joseph D Giarraputo.
"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."
"I am very pleased with this international recognition and independent testimony of ABC Algeria's pioneering role in Algeria's banking industry," ABCA chief executive and managing director Nour Nahawi said.
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 it," he added. 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. – TradeArabia News Service