Bahrain-based Gulf International Bank (GIB) has won three awards in the investment banking category of the Global Banking and Finance Review Awards for 2011.

After conducting a survey of the best investment banks at the country and regional levels, the awards' judging panel selected GIB as the Best Investment Bank in the GCC, the Best Investment Bank in Bahrain and GIB Capital as the Best Investment Bank in Saudi.

'With input from industry experts, the judging panel used a number of criteria to arrive at its selection,' said Global Banking and Finance review director S Varun.

'These included the number and size of initial public offerings (IPOs) and advisory assignments completed by the investment banks over the past 12 months.

'The panel also looked at key capabilities and services, including deal structuring capabilities, the distribution network and the number of staff dedicated to investment banking, innovation in financing, competitive pricing and after-market performance of underwritten securities,' he said.

'We are very pleased to have received three awards from Global Banking and Finance Review, which reflect our leadership and achievements in the region's investment banking field,' said GIB chief executive officer Dr Yahya Alyahya.

'We are committed to further strengthen GIB's status as a leading provider of investment banking services, including financial advisory for IPOs, underwritings, mergers and acquisitions advisory, private equity placements, structuring and distribution of sukuk and bonds as well as debt advisory services.'

'These international awards come as an addition to other awards the bank has received during the past 12 months.

'This reflects GIB's leadership and the market's confidence in its investment banking capabilities.

'These awards also reinforce the bank's strength and unique position in the investment banking arena, as GIB Capital has been the only investment bank in Saudi Arabia to successfully execute at least one IPO every year since the start of the international financial crisis in 2008.'

GIB is a leading bank in the Middle East with its principal focus on the GCC states. Its primary shareholder is the Public Investment Fund of Saudi Arabia.-TradeArabia News Service