Bahrain, 13th December, 2009 - Syria Gulf Bank wins best bank award
 

 

Bahrain, 13th December 2009: Syria Gulf Bank – a member of the United Gulf Bank network – has won the prestigious The Banker magazine award for the Best Bank in Syria 2009. The award follows a highly successful year for the bank with the opening of five new branches and an increase in its operating income of 188 per cent for the third quarter of 2009.

The Banker magazine is one of the UK’s leading financial journals and its annual awards celebrate the best bank in 144 different countries across the world. In making their award, the judges said that Syria Gulf Bank (SGB) has “combined excellence with market-leading products and a strong visual identity that has created brand recognition and a close relationship with its consumers.”

Speaking about the award, SGB’s Chairman, Masaud Hayat said:

“We’re delighted that our efforts have been rewarded by such a prestigious title as The Banker. We have worked very hard this year to capitalize our market position, build our brand and improve our customer service. I would like to thank everyone at SGB for their contribution to our success.”

SGB is a member of United Gulf Bank’s (UGB) network of regional banks that operates throughout the Middle East and North Africa. UGB is part of the KIPCO Group of companies.

The KIPCO Group is one of the biggest diversified holding companies in the Middle East and North Africa, with consolidated assets of US$ 18 billion. The Group has significant ownership interests in a portfolio of 60 companies operating across 21 countries. The company’s main business sectors are financial services and media. Through the subsidiaries and affiliates of its core companies, KIPCO also has interests in real estate, manufacturing and the management advisory sector.

– Ends –

Notes to Editors:

About UGB:

UGB, the investment banking subsidiary of Kuwait Projects Company (Holding) (KIPCO), manages a regional network of investment banking and asset management companies. Its proprietary investments include assets in real estate, private equity, structured products and quoted securities. As of September 2009, assets under management exceeded US$ 8.4 billion (2008: US$ 9 billion). UGB’s core subsidiaries and associates include: Al Dhiyafa Investment Company, Al Sharq Financial Brokerage Company, KIPCO Asset Management Company (KAMCO), Manafae Investment Company, Millennium Private Equity, North Africa Holding Company, Royal Capital Company, Syria Gulf Bank, Tunis International Bank, United Networks (formerly United Cable Company), United Gulf Bank Securities Company, United Gulf Financial Services – North Africa, United Healthcare Company, United Industries Company and United Real Estate Company.

UGB and its subsidiary KAMCO have a proven track record of successfully completing around 60 investment banking transactions for its clients since 2001 with an aggregate value of over US$ 8 billion including corporate finance, advisory, new issue placement and underwriting, corporate restructuring, bond issuance and merger and acquisition.

UGB is part of the KIPCO Group - one of the biggest diversified holding companies in the Middle East and North Africa, with assets worth more than US$19 billion under management or control. The Group has substantial ownership interests in a portfolio of over 50 companies operating across 14 countries. The company’s main business sectors are financial services and media. Through the subsidiaries and affiliates of its core companies, KIPCO also has interests in real estate, manufacturing, and the management & advisory sector.

For further information:

United Gulf Bank / Telephone: +973 17533233 / Email: info@ugbbah.com

 

About SGB:

SGB is the seventh private bank to obtain a license to operate in Syria. It is a Joint Stock Company owned 51% by Syrian shareholders and by United Gulf Bank of Bahrain (24%), Global Investment House of Kuwait (11%), National Bank of Lebanon (7%), and Al Fotouh Investment Co (7%).

The Bank started to operate in 2007 with a start-up capital of SP 1,500 million (USD 30 million). The IPO was oversubscribed by 250% in Syria, Lebanon and Kuwait. In 2008, the Bank successfully increased its capital to SP 3,000 million (USD 60 million)

SGB is part of the unique KIPCO Group with a presence across the Middle East and North Africa along with a family totaling 6 Partner banks; Algeria Gulf Bank, Algeria; Jordan Kuwait Bank, Jordan; Tunis International Bank, Tunisia; Burgan Bank, Kuwait and United Gulf Bank, Bahrain to facilitate varying customer financial needs from personal to trade finance. Other financial services in the network for Investment and Asset Management are; United Gulf Bank Securities Company (UGBS),Bahrain; United Gulf Financial services(UGFS), Qatar; KAMCO, Kuwait; Al Dhiyafa, Kuwait; Kuwait Private Equity Financial Fund, Kuwait; Royal Capital, Abu Dhabi, UAE; North Africa Holding company, Kuwait; and Manafae Investment, Kuwait.

Syria Gulf Bank provides commercial and international services to small sized businesses and professionals in a variety of industries, including commercial real estate and construction loans, commercial credit facilities, trade finance, as well as consumer services to individuals with a full range of savings and lending activities, home, personal and car loans.

Technology and comprehensive automation of services are the key focus areas that enable Syria Gulf Bank to compete with other banks in Syria in order to provide tremendous benefits to the customers.

For further information, please contact:

Syria Gulf Bank / Telephone: +963 11 9721 / Email: info@sgbsy.com