Complex Made Simple

ADIB Egypt named Best Commercial Bank in Africa

Abu Dhabi Islamic Bank (ADIB) Egypt was recently named the ‘Best Commercial Bank in Africa’ for the first time by the prestigious Islamic Business and Finance (IBF) Awards 2014 amidst fierce competition with the participation of many Islamic institutions.

IBF is one of the most renowned banking and economic publications offering annual awards to recognize Islamic banks and financial institutions that demonstrate the highest industry standards and that constantly strive to develop Islamic finance. This year, the IBF Awards received more than 8,000 votes from the readers of Islamic Business and Finance.

“ADIB Egypt continues to push its standards to a higher level,” said Nevine Loutfy, CEO and Managing Director of ADIB Egypt. “This year, we launched our new corporate identity and corporate promise to provide our customers with ‘Banking as it should be’. ADIB Egypt has further reported solid financial growth as a result of our investments to achieve higher standards. Recognition of our performance by IBF is a testament to our success in adopting innovative approaches to push the boundaries and meet the ever growing and sophisticated demands of our customers,” she added.

Islamic Business and Finance is published by CPI, one of the most renowned banking and economic publishers that cover many regions internationally and recognize best performing institutions in a variety of regions where Islamic finance is either developed or developing. The awards recognize banks and financial institutions that demonstrate the highest standard of financial services throughout the year. Many Islamic banks and Islamic branches of traditional banks worldwide competed for the “Best Commercial Bank in Africa” award. The annual awards are granted based on the results of polls in CPI’s online and print publications in addition to thorough analysis and assessment of financial data of competing institutions.

The IBF award is another addition to ADIB Egypt’s record as it was recently named “Best Islamic Bank in North Africa” for 2014 by Banker Africa. IBF also named ADIB Abu Dhabi “Best Islamic Retail Bank” in the region highlighting the bank’s strong performance and growth in the UAE region and across borders in year 2014.