Global Finance has named the Union National Bank (UNB) among the top 10 safest banks in the Middle East and also ranked the 17th among the top 50 safest banks in emerging markets for 2017, in an exclusive survey to be published in November.
Global Finance has become a reliable standard for measuring banking and financial strength. These ratings are now indispensable tools for companies and institutions to assess banks operating in emerging markets characterised by accelerated growth and instability.
According to Mohammed Abdeen, deputy chairperson of UNB-Egypt, the bank’s ranking came as a result of its keenness to pursue a prudent and wise strategy in the implementation of banking activities and its continuous focus on safety.
He stressed that the bank’s strategy of maintaining strength in the face of economic challenges and achieving sustainable growth are the most important reasons behind the bank’s permanent ranking among the safest and best banks.
Abdeen sad the bank’s rating among the safest banks prompts its leadership to keep improving the quality of its services, commit to the highest standards of banking, and provide safe services to customers.
Global Finance’s list of safest banks is based on the selection of the top 50 global banks through comparing the credit ratings and total assets of the world’s top 500 banks depending on long-term credit ratings provided by global rating agencies: Fitch, Standard and Poor’s, and Moody’s.