RIYADH, 15 August 2003 — The Saudi British Bank won two prestigious awards — the ‘Best Bank’ and the ‘Best Equities House’ in Saudi Arabia at the Euromoney magazine’s annual awards ceremony held in London recently. The bank was cited for its outstanding performance in the flotation of Saudi Telecom Company’s Initial Public Offering (IPO), where SABB was mandated as flotation manager by the Public Investment Fund (PIF) due to SABB’s technical capabilities and expertise.
SABB had also acted as a Subscription Bank and was ranked first among all Saudi banks, capturing over 32 percent of the total value of subscriptions in the highly successful IPO. SABB was also the top broker on the Saudi Stock Exchange in 2002.
Commenting on the award, the chairman of SABB, Sheikh Abdullah Al-Hugail, expressed his delight at the achievement and said he considered it a success for SABB’s customer-first policy. He noted that the recognition conferred on SABB was a reflection of the emphasis placed by the bank on providing high quality service to its customers, which has always been its top priority.
SABB’s Managing Director Geoff Calvert also hailed the success achieved by the bank. He thanked all the staff for their contribution to a greater team effort. He noted that the prestigious awards were a recognition of the bank’s efforts across a broad spectrum of areas, including customer service, recruiting and training Saudies who now contribute 78 percent of the staff and use state-of-the-art technology that facilitates a wide range of financial products and services.