Honor for outstanding contribution to the banking industry in Mideast

KUWAIT: Michel Accad, Group Chief Executive Officer of Al-Ahli Bank of Kuwait, received an award for his 'Outstanding Contribution to the Financial Services Industry in the Middle East' at the Euromoney Awards for Excellence 2019, held at the Grosvenor House Hotel in Dubai on the 26th June 2019.

Michel Accad joined ABK as Chief Executive Officer in 2014, taking up the latest in a string of career challenges in the global financial services sector, including 27 years at Citibank , 2 years at Arab Bank, and 5 years at Gulf Bank of Kuwait, where he oversaw the turnaround of the bank after the 2008 derivative and credit crisis.

In presenting Michel Accad with the award, Euromoney Editor, Clive Horwood said: "I'm personally very happy that such a great friend of Euromoney is here to receive this award tonight. He has a banking career spanning almost four decades, and has demonstrated his ability to solve problems calmly, even in the most intense situations, in extremely volatile countries. He swiftly rose within the ranks in his career and has faced seemingly insurmountable challenges from the very early stages. He has met every role with resounding success. Michel is a worthy recipient of this award tonight."

In accepting the award Accad said: "I am honored and humbled to receive this award, and I wish to thank Euromoney for this recognition. I have been privileged to work closely with some very supportive Chairmen in my career, in Jordan and Kuwait, and I would like to take this opportunity to thank them, as they have been extremely understanding, and have supported and empowered me in all the decisions I have made. I also thank my colleagues present, some of whom have worked with me in more than one location and more than one bank, and some who are very precious to me but could not join us tonight. To my team, I thank you for all your hard work, which has enabled me to get this special award tonight.

In 2018 ABK passed the KD 100 million Net Operating Income mark for the first time in the history of the bank and was also listed as one of the 10 Safest Banks in the Middle East by Global Finance. The Banker recently listed ABK as the second highest 'mover' in the Middle East rankings and 1st in Capital Adequacy Ratio in Kuwait.