The Saudi British Bank has been named the “Best Bank for Sustainable Finance in Saudi Arabia” for the year 2022 by Global Finance magazine, as part of its annual Excellence Awards, which honor the best financial institutions globally.
SABB was chosen for this award based on a set of international standards in a variety of categories, including sustainable financing, community support, emerging market growth, and infrastructure. This highlights the bank’s efforts and contributions to the Kingdom’s and the region’s overall sustainability and environmental, social, and institutional governance.
The awards program recognizes global and regional leadership in sustainable finance and funding for initiatives designed to mitigate the negative impacts of climate change, helping to build a more sustainable future for humanity.
“At SABB, we are proud of the significant progress we have made in the fields of sustainability and social responsibility,” said Yasser Al-Barrak, chief executive officer of corporate and institutional banking.
“This award is a true testament to the pivotal role that the principles of social and environmental sustainability play in the bank’s strategy.
“We look forward to making a more effective contribution to accomplishing sustainable development goals and building a promising future in line with the Kingdom’s Vision 2030,” he added. SABB places sustainability and social, environmental, and governance values at the core of its strategy for the next five years, continuing to introduce numerous sustainability programs while boosting awareness in the banking industry and society as a whole to become more environmentally conscious.
SABB is one of the leading banks in financial innovation, established in 1978 as a Saudi joint stock company. It is an associate company of the HSBC Group.
It offers integrated financial and banking services including personal banking, corporate banking, private banking and investment and treasury services. SABB’s paid-up capital is SR20.5 billion ($5.46 billion).