The Saudi British Bank (SABB) has been named by Euromoney as the “Best Trade Finance Service Provider” and “Market Leader’’ in Saudi Arabia for the year 2021. This is the 5th successive year that SABB has picked up these coveted awards, widely acknowledging SABB as the pre-eminent trade finance bank in the Kingdom.
This recognition is based on a survey carried out by Euromoney where Saudi corporates have recogonised SABB as the market leader within the trade finance space. The survey takes into consideration corporates’ view on their banks’ ability in providing Trade Finance products, solutions, quality of services and market share.
In 2020, SABB continued its focus on client experience, digitalisation and the development of trade opportunities for clients and support during the pandemic. SABB continues to be involved in a range of digital initiatives, including Blockchain based transactions in both traditional and open account Trade with a view to enhancing the customer experience, reducing risk and paper in the industry and ultimately increasing the velocity of Trade and liquidity to the market.
Commenting on winning the award, Majid Najm, Deputy Managing Director of Corporate and Institutional Banking at SABB: “We are very proud to be receiving this award, which reflects our leading position and excellence in providing innovative solutions that meet the growing and diverse needs of our customers, in a market that is witnessing rapid growth at various levels. The merger between SABB and Alawwal combines the best of two of the largest Saudi banks, creating a new stronger entity in trade finance and business support.”
He added: "What is special about this award is that it is mainly based on a customer satisfaction survey, which is testament to our successful approach in providing products and services in trade finance, proving that it is continuously widely accepted by customers and that we are committed to providing the best services to help our customers achieve their goals and face work environment challenges.”
About the Saudi British Bank (SABB):
The Saudi British Bank (SABB) is a licensed financial institution operating under The Saudi Central Bank "SAMA". supervision and control. SABB was established in 1978 as a Saudi joint stock company. SABB is an associate company of the HSBC Group.
SABB offers integrated financial and banking services including personal banking, corporate banking, investment, private banking and treasury. SABB paid-up capital is SAR 20.5 billion.
© Press Release 2021