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(SABB) receives CIPS award for Excellence in Procurement Program

March 2023

The Saudi British Bank (SABB) has received the Chartered Institute of Purchasing and Supply (CIPS) "Excellence in Procurement Program (PEP)" award for successfully completing the comprehensive standards for the development of its procurement and supply activities and achieving excellence in managing procedures at the standard level.

The Procurement Excellence Program Award is considered one of the most prestigious international awards, and it is given to institutions and companies that achieve the highest levels of excellence in procurement activities and supply chains, based on an independent and comprehensive evaluation designed specifically for the procurement functions. The program promotes continuous improvement and value throughout supply chains and emphasizes procurement's position as a critical component of an organization's strategy and effectiveness.

SABB was commended by the PEP assessors for demonstrating strong controls over their procurement processes and building guiding manuals to ensure clarity of their procurement and supply activities. The senior leadership at the bank also showed commitment to the highest standards of governance by developing the skills and capabilities of human resources to deliver the best results.

"Winning this award is an excellent start for the year 2023," said Ghada Al-Jarbou, Chief Operating Officer at SABB. "It reflects the bank's commitment to constantly improving the performance of all its areas in order to reach its strategic goals and to contribute more effectively to the Kingdom's Vision 2030 and the development of the financial sector."

She added, "We are certainly proud of this achievement, which demonstrates our excellence in procurement at SABB and highlights its role as a strategic function in providing best practices, improving costs, and creating added value for the bank. We look forward to working towards continuous progress, development, and more achievements."

Sam Achampong, Managing Director CIPS MENA , explained, “I congratulate the team for their success and tenacity in completing a tough audit. The bank is clearly committed to getting the best out of their procurement activities and using their team’s skills to get the best for the bank and its customers”.