Reuters wins contract with Saudi Hollandi Bank

Reuters' 3000Xtra and Dealing 3000, will allow the bank to increase productivity through easy access to the global financial trading network and an unparalleled range of the latest financial information across the globe.

Established in 1926, making it the first bank in the Kingdom (now 40% affiliate to ABN Amro) with a balance sheet of SR25 billion and a current ranking of eighth nationally, Saudi Hollandi Bank can only strengthen its position with Reuters' 3000Xtra and Dealing 3000.

Having tested the products in the lead up to the deal and having witnessed the speed and ease of their installment, Saudi Hollandi Bank is confident that the quick transition to Reuters and the speed of access to global financial information that it provides will bring far-reaching results: namely increased productivity.

Reuters' 3000Xtra, Dealing 3000 and the installed FX Trade Management systems will allow Saudi Hollandi Bank fast insight into any aspect of their business, from performance evaluation by currency, counterparts, instrument or trader, to producing daily confirmation statements; monthly trading summaries, brokerage analysis, subscriber directories, currency information, high, low and last trade prices from the Dealing 3000 Spot matching service.

Ronny Lidman, Manager for Reuters in Saudi Arabia who oversaw the deal comments, "Reuters is pleased to add Saudi Hollandi Bank to our network of financial institutions across the globe. Reuters provides customers with consistent, customised content and services, enabling increased profits.

Treasurer of Saudi Hollandi Bank, Richard Bruens states, "At Saudi Hollandi Bank we strive to retain our position at the forefront of the market. Although the oldest bank in the Kingdom, our strategy is to remain at the forefront of the banking industry by continuously embracing new technology. We are happy to be working with Reuters Solutions to help us to achieve our goal." Bruens went on to comment that, "The high levels of service and commitment that Reuters have given us and the support and training that we will receive re-affirm our conviction that Reuters was the best information provider to work with."

"As the leading provider of financial information and solutions worldwide, with a strong local presence in the Gulf, Reuters is best positioned to work hand-in-hand with local financial institutions, whether financial, governmental or other, to help them make that leap of faith towards adopting sophisticated technology that will help their business. We look forward to a long and mutually rewarding relationship with Saudi Hollandi Bank," says Lidman.

ENDS