Gulf International Bank named Best Equity Bank in the Middle East

According to the magazine, "Editors, with input from industry experts, used a series of criteria to arrive at their selection. These 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."

Deals announced or completed during the last two quarters of 2006 and the first quarter of 2007 were considered in the survey. The list of winning banks will be published in the June 2007 issue of Global Finance. GIB was selected because, among other things, it has been the exclusive financial advisor for all major IPOs in the Kingdom of Saudi Arabia in recent years and because of its leading role in corporate advisory.

"We have identified the banks that the best companies choose to get things done. We're not just picking the biggest; we're choosing the best, based on profitability, financial strength, as well as quality of staff dedicated to investment banking," said Joseph D. Giarraputo, Global Finance Publisher, in a statement issued by the magazine.

Dr. Khaled M. Al-Fayez, GIB's Chief Executive Officer, commented: "We are pleased to receive another award that recognizes our leadership and achievements in the region's investment banking field. We are committed to further strengthen GIB's status as a leading provider of corporate advisory services in the GCC by offering innovative solutions in the fields of financial restructuring, private placements, private sale, IPOs, underwriting equity as well as mergers and acquisitions."

GIB is a leading merchant bank in the Middle East with its principal focus on the Gulf Cooperation Council (GCC) states. The six GCC governments own 72.5 per cent of the bank, while the Saudi Arabian Monetary Agency owns 27.5 per cent. GIB is one of the largest regional banks in the GCC, with more than US$24.5 billion of its own assets and US$21.7 billion of clients' assets under management. With a proven track record spanning more than 30 years, GIB provides client-led, innovative financial products and services to a wide customer base in the region, including investment banking, asset management, project and structured finance and Islamic banking.