The Saudi British Bank (SABB) has been named the "Best Trade Finance Bank" in Saudi Arabia for 2012 by Global Finance magazine, one of the best known international publications in banking and finance. Each year Global Finance selects the best financial institutions around the world. These awards have become a recognized and acknowledged standard of excellence.
Global Finance editors with input from industry analysts, corporate executives and technology experts selected the best trade finance banks in 78 countries and regions. Criteria for choosing the winners included transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies. While the award is for 2012, it is based on performance during 2011. This is the fourth consecutive year that SABB has won this coveted award, highlighting yet again the market leading position that SABB enjoys among trade finance banks in the Kingdom.
SABB offers a comprehensive suite of conventional and Shariah-compliant trade products with the ability to structure and implement bespoke solutions to meet complex requirements of local and multinational customers, using local expertise and resources backed by HSBC’s global presence. The Bank continuously educates and informs Saudi customers about emerging trends in international trade through unique initiatives like the “Trade Confidence Index”, sponsorship of the “Guide to Cash, Treasury and Supply Chain Management in the Middle East”, various customer engagements events (both locally and overseas) and the SABB Trade Academy which is aimed at educating customers on the concepts, procedures and rules related to international trade and ways to mitigate the associated risk.
Commenting on the award David Dew, Managing Director of SABB said: "Customer care is a priority for us and we will continue to provide the highest service quality and respond to client needs through innovative products and solutions. Trade and Supply Chain remains a key focus area for SABB and we remain committed to meeting the domestic as well as international trade requirements of our clients as they seek to expand their businesses. We are delighted with the appreciation that we have received from Global Finance magazine for the fourth consecutive year in recognition of our leading role in financing trade in the Kingdom”.