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Shayne Nelson Regional CEO Standard Chartered Bank MENA said:
"This win is another prestigious addition to our rapidly growing tally of awards for the year, highlights our success story and is testament to our strong performance not only at a Group level, but also across the Middle East. Our MESA 2009 half year results have seen strong growth which is a result of a number of record months in the first half. The award is a collective win for the Bank which reinforces our strategy to continue focusing on our customers and deepening relationships with our stakeholders."
MESA income increased 29% driven predominantly by Wholesale Banking, which experienced income growth of 51% to $806m. The Bank's MESA Consumer Banking income was $337m, demonstrating continued revenue momentum in line with the same period for 2008, in spite of the difficult market conditions.
The winners of the Banker Middle East Industry Awards are chosen in an open vote. Only registered readers of Banker Middle East and subscribers to CPI Financial newsletters are eligible to vote.
Thousands of senior executives in financial institutions throughout the MENA region voted over four weeks. Their decisions on the winners were based on institutions' overall performance based on results, innovation, improvement and growth over the last 12 months.
Jonathan Morris Chief Executive Officer Bahrain who accepted the award on behalf of the Bank, said: "This award is a fantastic achievement and is a further acknowledgement by our peers of Standard Chartered's outstanding performance in 2008 and the continuing confidence which they have in us."
Another big winner this year has been Standard Chartered Saadiq, the Bank's Islamic banking unit which has won more than 20 awards already including Euromoney's 'Best International Islamic Bank 2009 Award'.
Posted by Nadeen El Ajou
