The Saudi British Bank (SABB) has won the “Saudi Arabia’s Best Bank 2021” award given out by the Global Finance magazine for the second year in a row. The award is voted on by industry leaders, based on criteria including growth in assets, profitability, geographical scope, strategic relations, new business development and product innovation.
Global Finance is a monthly magazine founded in 1987 and headquartered in New York. Each year Global Finance selects the best financial institutions around the world. These awards have become a recognized and trusted standard of excellence.
Tony Cripps, managing director of SABB, said: “We are proud to have received this award for the second year in a row for the bank’s outstanding performance in providing innovative products and services to our customers and expanding our strategic relationships on the local, regional and global scale. We are also focused on investing in the strengths that we have established over the past years and growing in new areas in line with the opportunities offered by the Kingdom’s Vision 2030. After the success of our historic merger, we are in a stronger position and ready for future opportunities the Saudi market is witnessing in various fields.”
SABB is keen to move forward toward achieving its vision under the slogan “We bring a world of financial opportunities to an ambitious Kingdom.” The slogan emphasizes its keenness to continue supporting the ambitious growth plans of the National Transformation Program and the basic programs to achieve Kingdom’s Vision 2030.
SABB recently completed the historic merger with Alawwal Bank, which marks a positive step that will have a direct impact on the development of the financial sector in the Kingdom. The bank offers a range of services in corporate banking to support growth in all aspects of the economy and financing the largest infrastructure projects, in addition to enabling retail banking customers to access a wider branch network with the development of digital banking.
SABB also continues to strengthen its position in highlighting ESG (environmental, social and governance) in the Kingdom through its participation as one of the main organizers of pooled financing of SR14 billion ($3.7 billion) for The Red Sea Development Company.
SABB was established in 1978 as a Saudi joint stock company. It is an associate company of the HSBC Group.