Latest news with #EuromoneyAwardsforExcellence
Saraha News
12-08-2025
- Business
- Saraha News
Bank ABC announces results for the period ended 30 June 2025: Net profit attributable to shareholders reaches US$ 152 million
saraha news-Bank ABC (Arab Banking Corporation B.S.C.) – Bahrain Bourse Trading Code 'ABC' – today announces its financial results for H1 2025. Bank ABC continued its resilient performance, against a backdrop of continuing global economic uncertainty, with an H1 net profit of US$152 million, a 1% headline growth over the corresponding period last year. Adjusted for foreign exchange translation differences, underlying* net profit grew by a robust 9% year-on-year (YOY), reflecting strong and diversified core business performance, underpinned by well-controlled credit costs. The Group's total assets reached a historic US$48 billion, propelled by a combination of core business momentum, FX movements as well as portfolio management activity. The Group continued to maintain healthy capital and liquidity buffers. During the period, Bank ABC received several prestigious industry awards, including 'MENA Cash Management Bank of the Year' by MEED's MENA Banking Excellence Awards and 'Best Bank for Sustainable Finance' and 'Bahrain's Best Digital Bank' by Euromoney Awards for Excellence. In addition, ila Bank was named 'MENA Retail Bank of the Year' by MEED and 'Bahrain's Best Consumer Digital Bank' by Euromoney. Bank ABC Islamic was also recognized as 'Best Sukuk House in Bahrain' by Euromoney's Islamic Finance Awards. Bank ABC's Group Chairman, H.E. Naji Belgasem remarked, 'The Group delivered strong results in the first half of 2025, particularly given the turbulent geopolitical environment that prevailed during this period. This stands testament to Bank ABC's diversified business model and focused execution of the strategy, which allows it to leverage market opportunities across the Group's international franchise while maintaining focus on balance sheet health. Business pipelines are strong, supporting confidence in revenue momentum and delivery of sustained value for all our shareholders over the remainder of the year.' Detailed summary of the Financial Results is explained below: Q2 2025 Performance Highlights Consolidated net profit attributable to the shareholders of the parent, for Q2 2025 was US$76 million, +1% higher compared to US$75 million reported for the same period last year, on a headline basis. Underlying* growth in net profit, adjusted for FX impact was+5%. Earnings per share for the period was US$0.024, in line with the same period last year. Total comprehensive income attributable to the shareholders of the parent was a positive US$99 million as compared to a negative US$28 million reported during the same period of last year. Q2 2025 benefitted from the strengthening of currencies (in particular BRL) against the US$, as compared to Q2 2024, which was impacted by the devaluation of the BRL against the US$. Total operating income for Q2 2025 was US$340 million, 3% higher compared to US$331 million reported for the same period last year. Underlying* Total Operating Income for Q2 2025 was US$353 million, compared to US$ 331 million for the same period last year, a YoY growth of +7% after adjusting for FX impact. H1 2025 Performance Highlights Consolidated net profit attributable to the shareholders of the parent, for H1 2025 was US$152 million, a growth of 1% compared to US$150 million reported last year. Underlying* growth in net profit, adjusted for FX impact was +9%, driven by a combination of higher average asset volumes and steady cost of credit. Earnings per share for the period was US$0.046, compared to US$0.046 in the same period last year. Total comprehensive income attributable to the shareholders of the parent was a positive US$253 million as compared to a negative US$56 million during the same period last year. H1 2024 was impacted by the devaluation of Egyptian pound and Brazilian Real against the US$. Total operating income for H1 2025 was US$672 million, as compared to US$674 million reported last year. Underlying* Total Operating Income was US$713 million, reflecting a growth of +6% after adjusting for FX impact reflecting broad based growth across almost all the core markets. Balance Sheet Equity attributable to the shareholders of the parent and perpetual instrument holders at the end of the period was US$4,363 million, compared to US$4,207 million reported at the 2024 year-end, after absorbing the impact of dividend payments. Total assets stood at US$48.0 billion at the end of the period, as compared to US$46.3 billion reported at the 2024 year-end, an increase of 4% driven by core business growth in the loan portfolio, FX movements and balance sheet optimization and portfolio management actions. Healthy Capital and Liquidity ratios: Tier 1 Capital ratio at 14.8%, of which CET1 at 13.0%. LCR and NSFR at 177% and 121% Bank ABC is a leading player in the region's banking industry, with a presence in 15 countries across five continents. It provides innovative global wholesale banking solutions in both conventional and Islamic Finance, across Transaction Banking, Project and Structured Finance, Capital Markets, Financial Markets, Real Estate Finance to corporates and financial institutions. It also provides consumer banking services through its network of branches in Jordan, Egypt, Tunisia, Algeria, and through ila Bank, its digital mobile-only bank, in Bahrain and ila banking app in Jordan.The full financial statements and press release are available on the Bahrain Bourse and Bank ABC's website. Bank ABC will host a virtual Investors call to discuss the H1 2025 earnings on 18 August 2025. Further details and the investor presentation are available at
Cision Canada
18-07-2025
- Business
- Cision Canada
Scotiabank named Canada's Best Bank by Euromoney Français
TORONTO, July 18, 2025 /CNW/ - Scotiabank has been named Canada's Best Bank at the 2025 Euromoney Awards for Excellence, marking the second consecutive year the Bank has received this notable recognition. "We are proud that Scotiabank has, once again, been recognized as Canada's Best Bank by Euromoney—a testament to our continued momentum as we focus on enhancing our offering and deepening our client relationships in Canada and across our global footprint," said Scott Thomson, President and CEO of Scotiabank. "As we continue to execute on our strategic priorities, we are deeply focused on driving more value for our clients and bringing the full strength of a connected Bank to every interaction." Euromoney's annual awards program celebrates the achievements of banks and bankers from across the globe. Canada's Best Bank is determined based on a review of financial performance, ability to meet strategic goals, and key initiatives that set a bank apart from its peers. Scotiabank is also proud to have been recognized with the following Euromoney recognitions: North America's Best Bank for ESG Latin America's Best Investment Bank for Financing Latin America's Best Bank for Sustainable Finance For more information about the Euromoney Awards for Excellence 2025, please visit: About Scotiabank Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at April 30, 2025), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit and follow us on X @Scotiabank.
Business Wire
18-07-2025
- Business
- Business Wire
Fifth Third Named ‘U.S. Best Super-Regional Bank' by Euromoney For the Second Consecutive Year
CINCINNATI--(BUSINESS WIRE)--Fifth Third (NASDAQ: FITB) announced today that it has been recognized by Euromoney's Awards for Excellence as the 'U.S. Best Super-Regional Bank' for the second consecutive year. The Euromoney Awards for Excellence program evaluates bank performance from Jan. 1-Dec. 31, 2024, and recognizes banks that bring the highest level of service, innovation and solutions to their customers. 'Earning this award for the second consecutive year reflects Fifth Third's disciplined execution and commitment to delivering consistent, high-quality performance in a dynamic environment,' said Bryan Preston, chief financial officer at Fifth Third Bank. 'The financial strength created by our diversified business model and resilient balance sheet provides the flexibility to navigate uncertainty while continuing to deliver innovative solutions for our customers and communities. This honor underscores the strength of our company and the dedication of our team to creating long-term value for customers, communities and shareholders.' The Euromoney team of editors, journalists and researchers undertakes a thorough analysis of all award entries and score applications according to criteria specific to research categories. For more than 30 years, Euromoney has recognized the achievements of banks and bankers worldwide. Euromoney's pioneering and comprehensive awards program remains the industry benchmark globally today. Euromoney Awards for Excellence are recognized worldwide for their exhaustive and informed decisions. About Fifth Third Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies ® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC. Category: Other
Business Insider
03-06-2025
- Business
- Business Insider
Fitch upgrades Fidelity Bank's national rating to ‘A+(nga)', affirms long-term IDR at ‘B'
Global credit rating agency, Fitch Ratings, has affirmed Fidelity Bank Plc's Long-Term Issuer Default Rating (IDR) at 'B' and upgraded its National Long-Term Rating to 'A+(nga)' from 'A(nga)'. The upgrade, announced on May 29, 2025, reflects the bank's strengthened capital buffers and improved profitability, signaling continued positive momentum in its performance. According to Fitch, the rating upgrade is underpinned by Fidelity Bank's successful capital raise through a rights issue and public offer, as well as a notable improvement in profitability—driven by higher interest income and a stable base of low-cost current and savings deposits. Commenting on the announcement, Managing Director/CEO of Fidelity Bank, Dr. Nneka Onyeali-Ikpe, said, 'This upgrade by Fitch Ratings affirms the resilience of our business model, the strength of our risk management practices, and our unwavering focus on delivering sustainable value to stakeholders. Despite a challenging macroeconomic environment, we have continued to maintain strong asset quality, solid profitability, and ample liquidity. This recognition reinforces our position as one of Nigeria's most resilient and customer-focused financial institutions.' One of the key drivers of the improved rating is the bank's robust capitalization. Fitch reports that Fidelity's Fitch Core Capital (FCC) ratio rose to 29.9% at the end of 2024—well above the regulatory minimum. The agency also noted that further capital raising efforts are expected to position the bank to meet the ₦500 billion minimum capital requirement for internationally licensed banks before the 2025 deadline. Fidelity Bank's market positioning remains strong. As Nigeria's sixth-largest bank, it commands approximately 5% of total banking sector assets. The bank's balance sheet is reinforced by a high proportion of low-cost deposits, which accounted for 93% of total deposits as of year-end 2024—among the highest in the Nigerian banking industry. The affirmation and upgrade by Fitch is expected to enhance investor confidence and support Fidelity's continued efforts to scale its operations both locally and internationally. Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited. The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Biz Bahrain
29-05-2025
- Business
- Biz Bahrain
NBB Named Best Bank in Bahrain at Euromoney Awards for Excellence 2025
The National Bank of Bahrain (NBB) has been named Best Bank in Bahrain at the 2025 Euromoney Awards for Excellence for its standout financial performance, digital transformation initiatives and customer centric approach throughout the past year. The Bank was also honoured as Best Bank for ESG and Best Bank for Corporate Responsibility, reaffirming its role as a national leader in responsible banking and meaningful community investments. Commenting on the occasion, Usman Ahmed, Group Chief Executive Officer of NBB stated, 'The recognition as Bahrain's Best Bank is the result of a focused strategy, with execution rooted in robust governance, innovation-led banking, and a pledge to contribute to national development. We continue to build on our legacy by enhancing client offerings through digitalisation, integrating sustainability into our business at every level and expanding regionally. These awards reflect the collective efforts of our team, who remain passionate about pursuing excellence across all aspects of the NBB Group's operations.' For his part, Ben Naylor, Global Head of Research at Euromoney, remarked, 'NBB achieved strong growth with a 7% rise in assets and 11% increase in profits. The Bank advanced its digital transformation agenda, expanded sustainably, and launched Bahrain's first Bitcoin-linked investment product. Strategic execution boosted lending by 16%, while its continued emphasis on sustainability and innovation is helping reshape Bahrain's banking sector. NBB's diverse initiatives encompass CSR, employee engagement, and community support. In 2024, the Bank backed vulnerable groups, supported youth sports and education, launched a donations fund for urgent needs, and led notable environmental efforts. They also inaugurated a LEED Platinum-certified branch, launched a new Sustainable Management Committee, and recorded major energy and emissions reductions, demonstrating a firm commitment to ESG principles. These efforts were complemented with the financing of key social infrastructure, leading Bahrain's first sustainability-linked interest rate swap, advancing sustainable finance and governance standards.' The Bank's innovation-driven ethos remained a defining strength throughout the year, with an 84% increase in newly onboarded retail customers via digital channels and a 23% increase in digitally registered users. NBB launched a host of solutions that serve the dynamic needs of its business as well as consumer banking segments. Further expanding its consumer banking proposition to cater to younger customer demographics, the Bank introduced the Yalla Family Account. The product is offered as part of the NBB Digital Banking app to instil responsible spending habits among the youth, while allowing parents to onboard their children and manage their accounts directly through the digital experience. Staying ahead of the trends shaping global financial markets, NBB also introduced the GCC's first Bitcoin-linked structured investment product. The offering is designed for accredited investors and provides them with capital-protected exposure to Bitcoin's performance, thereby marking a pioneering investment solution that combines innovation with risk management. For its business clientele, the Bank delivered DigiCorp, a revamped corporate banking platform that offers secure and efficient financial management. Complementing DigiCorp were DigiConnect, a new host-to-host integration solution designed to streamline payment and reconciliation processes for large corporates, and the Enterprise Liquidity Management Solution (eLMS), which helps clients optimise balances, pool funds from different accounts, and manage daily liquidity. Additionally, NBB Go, Bahrain's first SoftPOS (Software Point-of-Sale) solution, enabled small merchants to use their NFC-enabled Android smartphones to securely accept payments. Together, these three Euromoney Awards for Excellence further reinforce NBB's purpose-driven vision that is redefining modern banking and reinforce its position as Bahrain's leading financial institution.
