Gulf International Bank (GIB) has won two awards — Best Investment Bank in the Middle East and Best Investment Bank in Bahrain — in the investment banking category of the Global Banking & Finance Review Awards for 2014. This was announced in February in a press release issued by Global Finance magazine.

An awards ceremony for all winners will be conducted on Oct. 11 at the National Press Club in Washington DC.

Global Finance stated: “The past year saw investment banks restructuring and streamlining to focus on core competencies. Restructuring was, and continues to be, an essential step in both dealing with complex new regulatory regimes, under Basel III, Dodd-Frank and EMIR, and increasing return on equity.”

"Those banks that excel in this market have focused on controlling costs, managing regulatory developments and employing technology to further both of these goals," said Joseph D. Giarraputo, publisher and editorial director of Global Finance.

Global Finance editors used a series of criteria to select the winners for the awards, including market share, number and size of deals, service and advice, structuring capabilities, distribution network effort to address market conditions, innovation, pricing, after-market performance of underwritings and market reputation.

Abdulla Al-Zamil, chairman of GIB Capital, said: “I am very pleased that GIB Capital has been yet again awarded for its notable achievements.”

Yahya Alyahya, GIB’s CEO, stated: “These awards are a reflection of the successful business strategy, which is predicated on providing innovative customer-centric solutions.”

In 2013, GIB Capital led five major regional investment banking deals, including Bahrain’s $1.5 billion bond issue, a SR1 billion sukuk issue by Saudi Binladen, a SR677 million debt re-profiling and a SR200 million rights issue for the Middle East Specialized Cables Company (MESC), and advised Saudi Aramco Mobil Refinery Company in raising multicurrency debt financing.