RIYADH: The Saudi British Bank has been named “Best Private Bank in Saudi Arabia” for 2023 by Euromoney in recognition of its services and the investment opportunities it provides.
SABB was awarded the gong at the Private Banking Awards 2023 ceremony, with the decision based on input from industry insiders and independent research which evaluates a series of performance metrics and other factors about private banks.
Reflecting on the win, Bandar Al Gheshayan, the bank’s chief wealth & personal banking officer, said: “Having SABB Private Bank awarded by Euromoney as the Best Private Bank in Saudi Arabia recognizes our ongoing efforts to partner with global entrepreneurs and high-net-worth Saudi Arabian and Expatriate nationals as they manage and grow their wealth.
“For over 40 years, SABB has proudly supported the growth of the financial sector in the Kingdom and offered assistance in bringing innovative banking and investment solutions to our clients.”
SABB was also named Saudi Arabia’s Best Private Bank for environmental, social, and governance investing.
Across the region, BNP Paribas Wealth Management was named the best private bank in the Middle East, with one judge commenting that the institution “appears to have a clear roadmap and vision.”
“A large focus has also been put on sustainability (and the responsible investment offering is now broad and solid) as well as on digital,” according to comments released after the award was announced.
The awards come just a week after Euromoney crowned SABB as the “Best Trade Finance Service Provider” and “Market Leader” in Saudi Arabia for 2023 – the latter for the seventh successive year.
Those gongs were based on a survey by Euromoney, where Saudi corporates have recognized SABB as the market leader within the trade finance space.
The survey takes into consideration corporates’ view on their banks’ ability in providing trade finance products, solutions, quality of services and market share.