SABB named Best Trade Finance Bank in Saudi Arabia

This is the second consecutive year that SABB’s Global Trade & Receivables Finance (GTRF) has picked up the coveted award in this category, and the sixth time in the past 10 years.

The award is based on clients surveys, carried out by GTR magazine and other specialised institutions in the global market. It takes into consideration the banks’ achievements and its supportive role on global trade.

 

SABB remains the trade provider of choice in Saudi Arabia as evidenced by market share. Its innovative digital products, extensive capabilities and customer services are market leading, and it continues to deliver creative, risk mitigating and customised solutions for its clients along their entire supply chain, distinguishing SABB from competitors, the bank said.

 

Merger with Alawwal bank has further strengthened the market positon of SABB, with the expertise of SABB in the global corporate space being complimented by the SME acumen of AAB, it said.

 

Majed Najm, Deputy Managing Director, responsible for Corporate and Institutional Banking at SABB, stated: “We are delighted to win this award, which reflects our leading position in providing products, services, and innovative solutions that meets our custumers’ needs. As well as our significant role in global trade promotion, which is especially important in these uncertain times”.

 

He added: “SABB remains the bank of choice for global multinationals operating in Saudi Arabia, where 90% of them use SABB for their banking requirements. Additionally, SABB's association with HSBC reinforces SABB's ability to offer its customers Trade solutions and services of top international quality and provides SABB with an unrivalled international access and connectivity. No matter how trade finance evolves in a post Covid-19 environment, SABB will be well placed to develop and support its clients through this.” – TradeArabia News Service