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February 2020
SABB was for the first time recognized by Euromoney as “Best Service Trade Finance” in Saudi Arabia, highlighting the bank’s continued focus on customer service and thought leadership in innovative digital solutions, such as block chain-based traditional and open account trade solutions, benefiting not only its customers, but also the Saudi trade market overall.
SABB has been named by Euromoney as the “Market Leader Trade Finance” bank in Saudi Arabia for the year 2020. This is the 4th consecutive year that SABB Global Trade & Receivables Finance (GTRF) has picked up the coveted award in this category, widely acknowledging the bank as the leading trade finance bank in the Kingdom.
The award is especially meaningful, given that it is based on the votes from Saudi corporates, who described SABB as the leading provider of trade finance products and services in the Kingdom. This feedback takes into consideration the corporates’ view on their banks' ability to provide Trade Finance products, solutions and quality of services.
Commenting on winning the awards, Majed Najm, Deputy Managing Director, responsible for Corporate and Institutional Banking at SABB, stated:
“We are proud to receive these two awards, which reflect our leading position in Trade and Receivables Finance in an extremely competitive market that is evolving rapidly in different directions. At SABB, we are always keen to lead the market and find innovative and customized solutions to meet the needs of our customers and partners, to enable them to utilize the latest global banking technologies and products, developed for the corporate and SME business sectors.”
SABB is considered one of the leading banks in the Middle East in trade finance solutions, and is ranked as leader in launching digital products and services in Saudi Arabia. These digital solutions are aimed at promoting the use of trade finance to inject liquidity across all business segments from Large Corporate through to SME, in turn helping stimulate the economy and business development as one of the essential drivers to achieve the objectives of Vision 2030.
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Saudi Awwal Bank, a listed joint stock company, incorporated in the Kingdom of Saudi Arabia, with paid in capital of SAR 20,547,945,220, commercial registration certificate 1010025779, unified number 7000018668, Mailing Address: P.O. Box 9084, Riyadh 11413. National Address: 7383 King Fahad Branch Rd, 2338 Al Yasmeen Dist., 13325 Riyadh, Kingdom of Saudi Arabia, Tel. +966 11 4050677, www.sab.com, licensed pursuant to the Council of Ministers Resolution No. 198 dated 06/02/1398H and Royal Decree No. M/4 dated 12/08/1398H, and regulated and supervised by the Saudi Central Bank.