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SABB named 'Best Trade Finance Bank in Saudi Arabia' for year 2009

Saudi Arabia: Tuesday, March 17 - 2009 at 14:20
PRESS RELEASE

SABB has won one of the banking industry's most prestigious awards for its remarkable success in helping Saudi businesses grow their cross-border trade; the Bank has been named 'Best Trade Finance Bank in Saudi Arabia, 2009' by the highly influential international publication, Global Finance magazine.

Adel Al-Nasser, SABB Deputy Managing Director.

The award follows an extraordinary year when SABB's trade finance volumes grew 72% and its market share rose considerably. This record performance was strongly supported by SABB's launch of a series of Islamic export financing products in 2008 to complement its existing portfolio of Shariah-compliant import financing tools as well as introducing dedicated Islamic trade processing systems.

SABB Deputy Managing Director, Adel Al-Nasser, commented:

"This accolade further enhances SABB's message to the marketplace when businesses are looking for a strong and reliable partner for their domestic and international trade needs."

He added, "Our pioneering move in radically enhancing our range of trade products and supply chain finance solutions answered a growing need in the market and we were able to capitalize on close customer relationships and by our worldwide association with HSBC. We are also able to provide customers with Shariah-compliant marine cargo insurance through SABB Takaful."

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Related site: http://www.sabb.com

Notes and media contacts

Media contact:

Ibrahim Abo-Mouti
Head of Corporate Communications
The Saudi British Bank
Head Office, PO Box 9084
Riyadh 11413, Kingdom of Saudi Arabia
Phone. +96612764041
Fax. +96612764809

Posted by Siba Sami Ammari
Tuesday, March 17 - 2009 at 14:20 UAE local time (GMT+4)

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SABB named 'Best Trade Finance Bank in Saudi Arabia' for year 2009

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