Standard Chartered named 'Best Project Finance House in the Middle East' by Euromoney
Bank recognized for innovative finance instruments and ability to cater to diverse range of projects
Dubai, UAE – 12 June, 2013 - Standard Chartered has been named “Best Project Finance House in the Middle East” at the Euromoney Awards for Excellence 2013. The award reiterates Standard Chartered’s role in supporting the economic development of the Middle East by extending innovative project finance solutions.
The regional project finance market is expected to expand by nearly 15 per cent to reach USD 40 billion during 2013.
Standard Chartered has been recognized for its breadth of ability and innovation in both the types of projects being financed and the different types of instruments used to finance them. The award also considered the volume and number of deals undertaken during the period, as well as innovations the bank has brought to the market in tenor, industry sectors, funding structures, and cross-border deals.
Ravi Suri, Head, Project and Export Finance in India, Africa and MENA, Standard Chartered, said:
“The region’s investments in a wide array of projects will continue to be a key factor in the sustained growth of lending. Power and desalination will account for a huge percentage of project finance loans, while transport, petrochemicals, infrastructure and renewables are also expected to make significant contributions. We have developed innovative project finance instruments that allow us to proactively support a much broader range of these projects in the Middle East. Moreover, Standard Chartered’s global experience, strong on-the-ground presence and deep local market insights give us a distinct competitive edge to provide financing structures that deliver premium value to our customers in the region. The ‘Best Project Finance House in the Middle East’ award certainly validates our long-term approach to the region and our commitment to supporting the development of vital projects across the Middle East.”
The Euromoney Awards for Excellence are considered to be the definitive awards for global financial services. The receipt of an award recognizes a bank’s ability to consistently provide innovative solutions to clients.
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Standard Chartered – leading the way in Asia, Africa and the Middle East
Standard Chartered is a leading international banking group. It has operated for over 150 years in some of the world's most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East.
This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank’s growth in recent years. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges as well as the Bombay and National Stock Exchanges in India.
With 1,700 offices in 68 markets, the Group offers exciting and challenging international career opportunities to over 89,000 staff. It is committed to building a sustainable business over the long term and upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. Standard Chartered’s heritage and values are expressed in its brand promise, ‘Here for good’.
For further information please visit www.sc.com/en. Follow Standard Chartered at www.facebook.com/standardchartereduae and on Twitter @StanChartUAE.
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