'Best Local Private Bank in Lebanon' granted to Audi Saradar Private Bank by Euromoney

This esteemed acknowledgment comes a few months after the double recognition of Bank Audi sal - Audi Saradar Group as "Best Bank in Lebanon 2007" and "Bank of the Year 2007 - Lebanon", by Euromoney and The Banker magazines respectively.

With Private Banking activities through its dynamic institutions in Lebanon, Saudi Arabia, Qatar, and the United Arab Emirates (representative office in Abu Dhabi), as well as a privileged presence in Switzerland and France, Bank Audi's private banking entities have indeed outdone themselves on several standards in the field of wealth management.

More specifically, Audi Saradar Private Bank's overall performance, namely $730m of total assets under management and over $1.1bn of total customer deposits (by end-2007), and its strategic alliances notably with Russell Investment Group, global leaders in multi-manager investing, have led it to claim the accolades of "Best Local Private Bank in Lebanon For Super Affluent, High Net Worth, Private Equity Investments, Real Estate Investments, Foreign Exchange, Family Office Services, Corporate Advisory for Private Banking Clients, Relationship Management, and Privacy And Security".

Euromoney has been issuing reports on the Private Banking industry for 5 years during which it has built up a reputation and a following that is second to none. At the beginning of each calendar year, the magazine recognises the private banks and third party firms which have set the standard for private banking and wealth management excellence worldwide over the past 12 months. These yearly awards have become an international benchmark of private banking performance for clients and peers.

The "Best Local Private Bank in Lebanon" award will be remitted during a gala dinner to be held on January 31, 2008 in London. The event will be hosted by Euromoney and attended by over 300 of the world's leading financial figures.

On this new award, Mr. Neil Osborn, Euromoney Magazine Publisher, commented: "We are delighted that Audi Saradar Private Bank has won the Best Local Private Bank in Lebanon, as nominated by the market. It is a testament to Bank Audi's foresight in its acquisition of Banque Saradar and its successful integration, which has resulted in an extremely strong franchise in this area."

Mr. Toufic Aouad, General Manager of Audi Saradar Private Bank, declared: "We thank Euromoney for this award which is an international recognition of many years of effort trying to put clients' interest first through an open architecture investment approach, and providing best of breed products in private banking and asset management. Our goal is to expand regionally, seeking to be closer to our clients and serve them better, mainly in the GCC region."