SABB recognized as leading finance service provider by Euromoney
The Saudi British Bank (SABB) has been named by Euromoney as the “Best Trade Finance Service Provider” in Saudi Arabia for the year 2018. This is the second successive year that SABB has picked up this coveted award.
This recognition is based on a survey carried out by Euromoney where Saudi corporates have recognized SABB as the leading provider of trade finance products and services. The feedback takes into consideration corporates’ view on their banks’ ability in providing trade finance products, solutions and quality of services.
In 2017, SABB continued to focus on client experience, innovation, and the development of trade opportunities for clients. During 2017, SABB successfully rolled out a number of digital trade finance solutions It was the first bank in the Kingdom to partner with a leading global Fintech providing digitised trade solutions, expansion of channel capabilities to include bank guarantees. It launched a value added front-end application to help clients manage receivables finance and better optimize working capital management. Other initiatives included an expansion of trade corridor initiatives with key trade partners of Saudi Arabia; continued education of Saudi customers on emerging trends and risks associated with international trade through its “Trade Academy” initiatives; various customer engagements and thought leadership events aligned with Saudi Vision 2030 with participation from key industry experts; extension of its product suite and services; and continued expansion of its receivable finance proposition.
SABB also provides global connectivity through its link with the HSBC Group and a range of customized conventional and Shariah-compliant trade finance solutions to meet the growing trade and supply chain needs of its clients.
David Dew, managing director at SABB, said: “This award clearly demonstrates that our approach to trade and receivable finance continues to be well received within the Kingdom. We are committed to delivering the best-in-class services, and are focused on creating value that helps our clients achieve their business objectives.
“SABB continues to remain at the forefront of innovations enabling clients to migrate trade transactions to electronic channels and reduce the level of dependency on paper documents.
“The award highlights that we continue to lead from the front in providing innovative and customised solutions for the increasingly diverse, challenging and complex trade and supply chain needs of our clients and are proud to be recognized by them and the market in this respect.”