New York-based Global Finance magazine recently awarded Arab Bank the "Best Bank in the Middle East 2021” award, for the sixth year in a row, according to a statement from the bank. 

This global recognition came as part of Global Finance’s 28th Annual Best Bank Awards and was made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants and analysts throughout the world. 

In selecting top banks, Global Finance considered factors that ranged from the quantitative objective to the informed subjective, the statement said.

The objective criteria considered included: Growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

Global Finance Awards cover more than 150 countries and territories across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America and Western Europe. 

Commenting on this achievement, Nemeh Sabbagh, Arab Bank’s Chief Executive Officer said: "Receiving this global recognition for the sixth consecutive year is a testament to the strength of the bank’s business model and its ability to deliver strong performance across its regional network despite the exceptional circumstances and challenges posed by the COVID-19 global pandemic.”

Sabbagh added: "The bank continues to provide comprehensive banking solutions to its customers across various sectors locally and regionally, in addition to its focus on keeping pace with the latest technological developments in the banking industry, in line with its comprehensive strategy and ambitious future vision.”

Arab Bank, headquartered in Amman, was established in 1930 and has one of the largest global Arab banking networks with over 600 branches spanning five continents. 

Arab Bank’s extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Frankfurt, Sydney, Dubai and Bahrain, according to the statement.