The Saudi British Bank has actually been identified by Euromoney as the “Best Trade Money Company” and also “Market Leader” in Saudi Arabia for 2023. This is the seventh succeeding year that SABB has actually been granted as the marketplace leader, extensively recognizing SABB as the leading profession financing bank in the Kingdom.
The honors are based on a survey by Euromoney, where Saudi corporates have identified SABB as the market leader within the trade finance space. The study thinks about corporates’ view on their banks’ capacity in offering trade money products, options, top quality of solutions and market share.
In 2022, SABB continued its focus on client experience, digitization, and the development of trade possibilities for clients, supplying a series of electronic campaigns, including a recently released electronic trade services plan targeted at enhancing letter of credit history and assurance treatments for ventures’ worldwide company operations by cooperating with blockchain-based digital platform Shape and also neighborhood fintech Bwatech. SABB is likewise the very first bank in the Kingdom to finish a global trade transaction through blockchain modern technology, lowering danger and paper in the industry and ultimately enhancing the velocity of trade and also liquidity in the market
Discussing the honors, Yasser Albarrak, primary corporate as well as institutional financial police officer, claimed: “We are delighted to be winning these honors, which highlight our leading placement and also quality in giving cutting-edge remedies that satisfy the growing as well as varied requirements of our clients in a market that is experiencing quick development at various degrees. These awards are based on a client satisfaction study, which is a testimony to our effective strategy in providing product or services in profession financing and also verifying that it is extensively accepted by consumers.”
Last Updated: 23 March 2023
