Media & Communications
(Manama, Sunday 17th June, 2012) Seera Investment Bank B.S.C.(c), a Shari’a compliant investment bank headquartered in Bahrain, won the Banker Middle East Fastest Growing Bank in Bahrain award at a ceremony held in Dubai. This is the second consecutive year for Seera to win this award, which is based on the analysis of key measures such as assets, liabilities, total income, return on assets and net profit and their growth. The result is a ranking for each institution across key performance indicators, recognizing the top performer as the best performing bank in the country.
According to CPI Financial who revealed the award, the Banker Middle East Industry Awards, now in its tenth year, is a completely transparent and therefore a genuine and objective representation of the best performing banks in the Middle East.
Mr. Adam Broom, CPI Financial’s Chief Operating Officer said “Seera Investment Bank has shown exceptional growth yet again across all measures that we study to assess the best performing banks throughout the Middle East. To achieve consistent growth over a sustained period is evidence of an excellent Bank strategy. We are pleased to be able to recognize them as a leading institution in Bahrain and the GCC.”
Mr. Abdulla Janahi, Seera’s Chief Executive Officer commented “We are pleased to win this award and believe that it is a good recognition for Seera’s strong performance. The award was based on the comprehensive analysis of the Bank’s results, thereby lending a great deal of credibility to this recognition and reinforcing our belief in Seera’s very sound business.”
“This recognition for Seera is taking place for the second year in a row and in today’s challenging economic environment, it really matters that a Bank is able to consistently deliver strong performance and show a resilient balance sheet.” added Mr. Janahi.
The award follows Seera reporting a net income exceeding $ 70 million for 2011 as a result of the strong performance of the Bank’s investment business.
“Seera’s financial results and its balance sheet are a testament to the soundness of the Bank’s portfolio especially in light of the difficult conditions following the financial crisis. We believe that we have been quite successful in managing our portfolio through the crisis, a belief which has been validated by the strong recovery in the performance of portfolio companies.” Mr. Janahi further commented.
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