Deutsche Bank has been awarded “Best Risk Management House in the Middle East" and "Best Investment Bank in Saudi Arabia" in Euromoney's Awards for Excellence 2012.
Ashok Aram, CEO Deutsche Bank, MENA said: "We are very pleased winning these two awards, which recognize not only our commitment to the MENA region, but also the significant investment Deutsche Bank has consistently made in the region even through the crisis period. Effective risk management has been a vital component of our bank’s overall strategy in the region and this has allowed us to both maintain consistency in our strategy and support sustainable growth. We have shared our expertise in this regard with our clients in the region and it is good to see it being recognized. Strengthening and deepening our commitment to Saudi Arabia has been a strategic priority for Deutsche Bank and it is good to see that commitment recognized."
Jamal Al Kishi, CEO Deutsche Securities Saudi Arabia, commented: "The Best Investment Bank in Saudi Arabia award by Euromoney is a great recognition for Deutsche Bank’s business in the Kingdom of Saudi Arabia through its affiliate Deutsche Securities Saudi Arabia. Our ambition is to strive consistently to provide our Saudi clients with best-in-class advice, products and services working seamlessly with Deutsche Bank's global network. We are passionate about growing our Saudi franchise through delivering optimal solutions to our clients, bringing leading financial know-how onshore and training Saudi nationals in all facets of our industry."
Clive Horwood, Euromoney Magazine’s Editor, said: "Deutsche Bank’s Middle East franchise as a whole had a record year in 2011 and a record quarter in the first three months of 2012. Deutsche Bank extended repo financing to dozens of banks and asset managers. It has also developed solutions that allowed clients to raise large amounts of capital that local lenders would not be able provide. Meanwhile, profits from its Saudi franchise doubled over the year. At the core of its profitability in Saudi Arabia are hedging and structured finance products – areas that have grown in line with the increasing sophistication of Saudi corporates, many of which are the region’s biggest in their sector."
The Euromoney Awards for Excellence continue to be one of the most respected awards in the financial services industry.