FGB, one of the leading banks in the UAE, finished 2014 with double honours from industry publication Cash Management Matters, CMM. It received recognition with the Best Bank Award for Trade Finance and Corporate Banking and benchmark status in the CMM Trade Finance Tajara Monitors 2014.
FGB has been widely applauded for its strategy to become the "First Choice" Global Transaction Bank. At the core of this strategy is its commitment to increase market share in the Middle East, increase trade and financial flows from the UAE into key international locations, expand existing operations, penetrate key markets, and grow their international network of branches and offices, including partner bank arrangements, to support global customer requirements. This has been supported by building a team of professionals who take a consultative approach in meeting their client's needs.
Andre Sayegh, CEO, reflected his commitment to the bank's GTS strategy when he recently remarked, "FGB's GTS business is here to stay for years. We are investing in people and technology to give world class experience to our customers." Simon Penney, Head of the Wholesale and International Banking, also recently demonstrated FGB's commitment to GTS business by saying, "GTS is one of our core businesses. This award reflects the incredible progress we have made towards becoming the leading trade finance bank in the Middle East and in other regions where we operate." Manoj Menon, Head of Global Transaction Services and Financial Institutions at FGB, said, "Our GTS journey has just begun. We are building out our product capability across both cash and trade. Our dedication to client service and our ability to tailor products to meet our clients' needs has helped us deliver service excellence and solutions that our customer prefer." The Tajara Monitor has ranked FGB 2nd in the top 4 improving banks in the league table this year. Ever since CMM published the Tajara Monitors in 2007, they have been established as the benchmark publication and reference tool for identifying players and trends in the relevant market, and for measuring bank performance and commitment to corporate banking and trade.