Ayandeh Bank wins Euromoney's Best Bank Transformation Award

Ayandeh Bank wins Euromoney's Best Bank Transformation Award

Ayandeh Bank was crowned with Euromoney's Best Bank Transformation Award for 2017, becoming the first Iranian private lender to have won the prestigious title. 
Bankers from across the Middle East gathered to attend the Euromoney Middle East Awards for Excellence dinner at Grosvenor House in Dubai on May 17.
The awards went to banks that stood out during a year when bank liquidity conditions began to ease, while navigating economic reform remained paramount and debut sovereign bonds brought record issuance in the debt capital markets.
Ayandeh Bank won a second title in 2017, becoming “the Bank of the Year” of Iran in 2017 by the Banker, the London-based English-language monthly international financial affairs publication.
The bank was born out an ambitious mega-merger in 2013 which set a template for Iranian bank consolidation. 
It combined Tat Bank with two other financial institutions and 10 credit cooperatives, and did so in a country that has absolutely no regulatory guidance for how to do it and where staff layoffs are all but taboo because of vast national unemployment.
According to Europmoney, 2017 has been a year of tremendous change for Iran’s banking sector, as the country continued to open up to the world as a result of the effects of nuclear agreement. However, the change was not at all easy because banks struggled to modernize systems.
Euromoney is a business-to-business media company, which is focused on the asset management, banking and commodities sectors.
Its segments include Asset management; Pricing, data and market intelligence; Banking and finance, and Commodity events. Asset management and pricing, data and market intelligence consist primarily of subscription revenue. 
It provides market intelligence, news, training and conferences to the finance industry across the world.