The award was presented by Ewald Müller, Managing Director, Supervision and Authorisation, QFCRA.
With better financial strength, the merged entity will also be well positioned to substantially increase market reach, particularly in south India, and operational efficiency
Combined entity may have $113 billion in assets; if successful, a deal could be announced as early as this month, according to Bloomberg
“The Bank Nizwa international money transfer service appeals to individual and corporate clients alike. It offers complete security and reliability with competitive exchange rates,” said Khalid Al Kayed, CEO of Bank Nizwa.
"Our scorecards for this public finance leader's show who is maintaining control and moving forward, and who is struggling against slippery political or economic changes," Giarraputo quoted as saying.
Shares Emirates NBD, which has a weightage of more than 7% on the index, have shed 15% in the past eight sessions
Ratio of non-performing loans to gross loans was at 3.9% compared to 2017 year-end levels of 3.5%, and normalises to 3.0%, when legacy fully provided loans are adjusted for.
On the date of establishment of a subsidiary, following all necessary regulatory approvals, current GIB branches (Dhahran, Riyadh and Jeddah) would become branches of GIB KSA.