RIYADH: SABB has been named as Saudi Arabia’s No. 1 cash management bank in a poll of thousands of cash managers, treasurers and financial officers worldwide. The poll has been published in Euromoney Magazine.
Now in its 8th year, the Euromoney Cash Management Poll attracted a total of 6,328 valid replies to questions relating to international cash management services, a growth in respondents of 66 percent. Of these, 4,877 voters were from corporations and 1,451 from financial institutions.
But this year, for the first time, the poll also captured data on domestic cash management providers and SABB topped the Saudi market share rankings.
Adel M. Al-Nasser, deputy managing director at SABB, commented: “Companies and institutions in Saudi Arabia have become increasingly aware of the need to get the maximum benefit from efficient management of their cash. SABB offers the full range of cash management solutions through specialist staff, backed by the state of the art systems. By providing tailored solutions to meet each customer’s specific needs, we can make a real difference to the profitability of their businesses.
He also added: “We are proud and delighted that we have come top of Euromoney’s poll. The results demonstrate SABB’s reputation and track record as a provider of truly effective cash management solutions.”
The Euromoney Cash Management Poll provides a unique snapshot of the global cash management industry and gives an invaluable insight into which banks are leading the way in this increasingly competitive and fast changing industry.