SABB Named “Best Service Trade Finance” and “Market Leader Trade Finance” By Euromoney
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March 2023
The Saudi British Bank (SABB) has been recognized by Euromoney as the "Best Trade Finance Service Provider" and "Market Leader" in Saudi Arabia for 2023. This is the 7th successive year that SABB has been awarded as the market leader, widely recognizing SABB as the preeminent Trade Finance bank in the Kingdom. The awards are based on a survey by Euromoney, where Saudi corporates have recognized 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 2022, SABB continued its focus on client experience, digitalization, and the development of trade opportunities for clients, offering a range of digital initiatives, including a newly launched digital trade solutions package aimed at enhancing letter of credit and guarantee procedures for enterprises’ International business operations by cooperating with Blockchain-based digital platform, Contour and local Fintech Bwatech. In addition to being the first bank in the Kingdom to complete an international trade transaction via Blockchain technology, reducing risk and paper in the industry and ultimately increasing the velocity of trade and liquidity in the market
Commenting on winning the awards, Yasser Albarrak, Chief Corporate and Institutional Banking Officer, said: "We are delighted to be winning these awards, which highlight 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. These awards are based on a customer satisfaction survey, which is a testament to our successful approach in providing products and services in trade finance and proving that it is widely accepted by customers”.
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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.