Addax named 'Best New Bank' at 2007 Banker Middle East Awards

Notes and media contacts

For further information on Addax Bank please contact Mona Akhtarzada:
Tel: +973 17 560 444
Fax: +973 17 560 445

About Addax Bank
Addax Bank has an authorised capital of US$100 million and is regulated by the Central Bank of Bahrain (CBB). The Bank was formed in 2003 and has been involved in a number of high profile deals in the region.

Addax Bank's landmark deals include: participation with Dubai International Capital and other lead investors in creating JD Capital, a US$300 million (approximately) company targeting investment opportunities in Jordan. Addax Bank was also responsible for the structuring and placement of the US$ 150 million deal to finance 20 Express by Holiday Inn hotels across five countries in the GCC.

Additionally, Addax Bank has launched a US$1 billion investment fund, the MENA Serviced Residence Fund, in collaboration with The Ascott Group of Singapore, to acquire and manage a chain of serviced residences throughout the Middle East and North Africa. The first phase of capital fund raising towards the US$ 1 billion MENA Serviced Residence Fund was successfully completed earlier this year; the private placement was well received by investors and was oversubscribed by 150% within record time.


In September 2006 Addax Bank formed its newest subsidiary, Addax Media BSC. Addax Media, wholly owned by Addax Bank will be a holding company that will focus on acquiring innovative, high-quality media productions ranging from full length movies to television serials. Addax Media's first production "Khalid Bin Waleed" was aired on MBC and Dubai Television.

In November 2006, Addax Bank, launched Addax Education Holdings (AEH), a holding company based in the Kingdom of Bahrain, established in partnership with a team of education and private equity professionals to invest and manage education and education related businesses across the GCC, Middle East and North Africa.

Addax is fast gaining a reputation for launching innovative and unique deals in the Middle East region.