The Saudi British Bank (SABB) has been named by Euromoney as the “Best Trade Finance Bank” in Saudi Arabia for 2017. This is a maiden award which has been won by SABB in this category, widely acknowledging SABB as a pre-eminent trade finance bank in the Kingdom.
The recognition from Euromoney is based on feedback from industry analysts, technology experts and customer executives including CFO's, Treasurers and Financial Executives of Saudi Corporates and Global companies having a presence in KSA. This feedback takes into consideration the corporates ‘view on their banks' ability in providing Trade Finance solutions through their product and service offerings.
In 2016, SABB continued its focus on client service, product innovation and the development of trade opportunities for clients. During the year, SABB successfully rolled out a number of key initiatives directed towards helping its clients grow their trade-related businesses. The initiatives included an expansion of trade corridor initiatives with key trading partners of KSA, continued education of Saudi customers on emerging trends and risks associated with international trade through SABB “Trade Academy” and “Trade Confidence Index” initiatives; various customer engagement and thought leadership events with participation from key industry experts; extension of its product suite and services; and continued expansion of its Receivable Finance proposition. SABB provides unrivalled global connectivity through its association with the HSBC Group and a range of sophisticated and customized conventional and Sharia-compliant trade finance solutions to meet growing trade, receivable finance and supply chain needs of its clients.
Commenting on winning the award, David Dew, Managing Director at SABB, stated “This award clearly demonstrates that our approach to Trade & Receivable Finance continues to be well received within the Kingdom. We are committed to delivering best-in-class services, and are focused on creating value that help our clients achieve their business objectives by successfully navigating a challenging business environment. The award serves to highlight our leading position as a provider of innovative and customised solutions for the increasingly diverse, challenging and complex trade, receivable finance and supply chain needs of our clients and we are proud to be recognized by them and the market in this respect”.