SABB wins ‘Saudi Arabia’s Best Bank 2020’ award

David Dew
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Updated 15 September 2020

SABB wins ‘Saudi Arabia’s Best Bank 2020’ award

The Saudi British Bank (SABB) has been named the “Best Bank in Saudi Arabia for 2020” by Global Finance magazine, an English-language monthly financial magazine. The award is voted on by industry leaders, based on certain criteria including asset growth, profitability, product innovation and new business development.

David Dew, managing director of SABB, said: “We merged with Alawwal Bank with the ambition of becoming the Kingdom’s best bank, so we are delighted to have won this award. While we continue our work to bring the best of both banks into one, we have never stopped investing in our business to pioneer better ways of banking. Our merger gives us the resources to set new banking standards for the Kingdom, so we are really excited about the future.”

SABB has led the industry with a series of successes in recent months, including the issuance of a SR5 billion ($1.33 billion) Tier II sukuk, the joint largest in Saudi history and first transaction of the merged bank in the debt capital markets. Also this month, SABB’s Waafer savings account was voted “Product of the Year.” Waafer was launched last year as an alternative to traditional savings accounts. 

SABB was also awarded the “Best Digital Mobile Banking” app in Saudi Arabia by Global Finance.

PepsiCo & SFA launch movement for athletic lifestyle

Updated 20 September 2020

PepsiCo & SFA launch movement for athletic lifestyle

The Saudi Sports for All Federation (SFA) and PepsiCo have announced a partnership that aims to make sports more accessible, facilitating a better quality and balanced lifestyle for people of all ages and abilities in the Kingdom. The 2-year collaboration will see both partners work toward achieving the nation’s goal of increasing participation in weekly sports by 40 percent by 2030.

Four key pillars — Endorse, Promote, Enable and Activate — are at the core of the partnership, in which PepsiCo endorses the SFA’s program of sports activities through an integrated, impactful marketing and communications campaign. This endorsement is centered on “Harek,” a new movement revealed on Sunday, which is being spearheaded by PepsiCo in collaboration with the SFA to encourage a more active lifestyle and participation in SFA events.

Harek, which means “move,” has been designed with its own identity and characterizes key principles of inclusivity, longevity, inspiring action, and is rooted in local culture.

Both partners will unite to promote key events including Family Activity Days, Neighborhood League Football, and virtual fitness activity as more people are now exercising at home. The partnership has enlisted PepsiCo’s support as the “beverage and nutrition partner” at SFA-selected events, anchored around brands such as Aquafina and Quaker Oats. 

The partnership was marked on Sunday with a signing event attended by President of SFA Prince Khaled bin Alwaleed bin Talal, and officiated by Managing Director of SFA Shaima Saleh Al-Husseini, alongside Tamer Mosalam, Gulf and Levant foods vice president and business unit general manager at PepsiCo.

“This partnership is a great example of how the government is working with the private sector to encourage widespread participation in sports and athletic activities,” said Al-Husseini. “This is not just a step, but a leap in the right direction, setting the pace for the adoption of healthier habits.”

“By working hand-in-hand with the SFA, PepsiCo looks forward to getting Saudi citizens and residents engaged in a wide variety of sport and leisure pursuits, and help the Kingdom pursue its ambition of being among the leaders in selected sports regionally and globally,” said Mosalam.