SABB named Saudi Arabia’s ‘best trade finance bank’ for 2020

SABB named Saudi Arabia’s ‘best trade finance bank’ for 2020
Majed Najm, deputy managing director at SABB.
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Updated 03 June 2020

SABB named Saudi Arabia’s ‘best trade finance bank’ for 2020

SABB named Saudi Arabia’s ‘best trade finance bank’ for 2020

SABB has been named the “Best Trade Finance Bank in Saudi Arabia” for the year 2020, by the Global Trade Review (GTR) magazine. This is the second consecutive year that SABB’s global trade and receivables finance (GTRF) has picked up the coveted award in this category, and the sixth time in the past 10 years.

The award is based on client surveys, carried out by the GTR magazine and other specialized institutions in the global market, taking into consideration the banks’s achievements and its supportive role on global trade.

SABB remains the trade provider of choice in Saudi Arabia as evidenced by market share. Its innovative digital products, extensive capabilities and customer services are market leading, and it continues to deliver creative, risk mitigating and customized solutions for its clients along their entire supply chain, distinguishing SABB from its competitors. The merger with Alawwal Bank has further strengthened the market position of SABB, with the expertise of SABB in the global corporate space being complemented by the SME acumen of Alawwal Bank.

Majed Najm, deputy managing director, responsible for corporate and institutional banking at SABB, said: “We are delighted to win this award, which reflects our leading position in providing products, services, and innovative solutions that meet our customers’ needs, as well as our significant role in global trade promotion, which is especially important in these uncertain times.”

He added: “SABB remains the bank of choice for global multinationals operating in Saudi Arabia, where 90 percent of them use SABB for their banking requirements. Additionally, SABB’s association with HSBC reinforces SABB’s ability to offer its customers trade solutions and services of top international quality and provides SABB with an unrivaled international access and connectivity. No matter how trade finance evolves in a post-COVID-19 environment, SABB will be well placed to develop and support its clients through this.”