Bank Audi Granted the "Best Bank in Lebanon 2012" Award by Euromoney.

Beirut, 11 Jun 2012
Mr. Philippe Sednaoui (left), Chief Executive Officer of Banque Audi (Suisse), receiving the award from Mr. Clive Horwood (right), Euromoney editor

Mr. Philippe Sednaoui (left), Chief Executive Officer of Banque Audi (Suisse), receiving the award from Mr. Clive Horwood (right), Euromoney editor

Bank Audi sal - Audi Saradar Group was granted the “Best Bank in Lebanon” award at the 2012 Euromoney Awards for Excellence Middle East ceremony. The gala dinner, which took place on June 6, 2012 at the Madinat Jumeirah Conference Center – Dubai, was hosted by Euromoney and attended by prominent guests including top executives of regional banks and financial institutions. This prestigious recognition, one of a long series of awards acknowledging the Bank’s leadership in the domestic market, makes Bank Audi the most awarded Lebanese bank by Euromoney as “Best Bank in Lebanon” since 1996.

In recognising Bank Audi for the award of “Best Bank in Lebanon”, Euromoney editor Clive Horwood highlighted how “the Lebanese banking sector continues to do well, and Lebanese institutions know how to deal with a crisis. Bank Audi, in particular, has posted better profit growth than its major competitors, and continues to take advantage of opportunities on a regional level, as witnessed in the recent granting of a license to operate in Turkey.”
H.E. Mr. Raymond Audi, Chairman and General Manager of Bank Audi sal - Audi Saradar Group commented: “Within the context of adverse regional developments in 2011, the Bank adopted a prudential policy while continuing to foster its leadership in the domestic market and to finalise the establishment of a subsidiary in Turkey that provides promising growth prospects. Our results over the year highlight the Bank’s ability to maintain its earning power amidst tough operating conditions. Once again, this has been recognised by Euromoney in its renowned annual awards for Best Bank in Lebanon. We can only be proud of this acknowledgment which will stimulate us to go even farther.”

Euromoney Magazine has been the voice of international capital markets for over 40 years, offering unique coverage of the global equity, bond and foreign exchange markets. Its annual Awards for Excellence program has been running for 22 years and forms a benchmark for financial institutions featuring high-quality products and services across all areas of Commercial and Investment banking. The selection of Best Bank Awards is based on quantitative and qualitative criteria over the 12-month period.

Bank Audi is a regional group with a universal banking profile. The Bank offers universal financial products and services including Corporate, Commercial, Individual, Investment, and Private Banking services. As at end-March 2012, Bank Audi’s consolidated assets reached US$ 28.7 billion, principally driven by private customers’ deposits of US$ 24.4 billion, with shareholders’ equity reaching US$ 2.5 billion. Bank Audi’s group staff headcount exceeds 5,000 employees and its shareholders’ base encompasses more than 1,500 holders of common shares and/or holders of Global Depositary Receipts (GDRs) representing common shares.

Bank Audi ranks first among Lebanese banks and is positioned in the inner circle of top regional banking groups. Its shares are listed on the Beirut Stock Exchange. Its GDRs are listed on both the Beirut Stock Exchange and the London Stock Exchange.

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