Sep 17 2011 |
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Samba named safest bank in Saudi Arabia and ranked among the safest banks in the world for the second year in a row
In a Survey conducted by Global Finance magazine to measure the creditworthiness of the 500 largest banks in the world
The survey, overseen by prominent experts and analysts, evaluated the safest banks in Western, Central and Eastern Europe, Asia, the Middle East, North America, Latin America and Australasia, with Global Finance ascertaining that these banks have solid capital positions and superior risk management capabilities, given the world's sovereign debt crisis and financial volatility. Global Finance indicated that the survey was based on advanced criteria and serves as a reliable indicator to measure selected banks' creditworthiness. The survey results will be published in the October 2011 issue, during the Annual Meeting of the International Monetary Fund.
Mr. Eisa Al-Eisa, Chairman of Samba Financial Group , said "In light of this significant international evaluation, the Bank reaffirms its sound methodology and prudent balance of its financial and banking policies and procedures, which reflect a deservedly high creditworthiness, not only on a local, but also on a regional and global level". The Chairman pointed out also that Samba has capitalized on its solid capital base and trustworthiness, placing it among the world's largest banks in terms of efficiency and stability, and making it a safe option for major companies' customers and investors.
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