RIYADH — SABB has been named by GTR as the “Leader in Trade for Saudi Arabia” for the year 2019. This is one of the coveted awards acknowledging SABB as the pre-eminent trade finance bank in the Kingdom. It comes on the heels of SABB being recently adjudged the best trade finance bank by Euromoney (for 3rd year) and Global Finance (for 10th successive year).

SABB continued its focus on client experience, digitalization and the development of trade opportunities for clients. During this period SABB successfully rolled out a number of digital trade finance solutions which include mobile internet trade solutions, electronic guarantees and further expansion of digital trade solutions. SABB joined the enterprise software firm R3’s global Blockchain ecosystem wherein it was the first bank in KSA to join such an initiative in order to be part of community formed to explore Blockchain / Distributive Ledger Technology (DLT) and to benefit from its growing utilization in financial industry. Other initiatives included expansion of trade corridor initiatives with key partners of KSA, 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 particular focus on non-oil exports) and continued expansion of its product suite including Receivable Finance & Supply Chain Finance proposition. SABB also provides unrivalled global connectivity through its association with the HSBC Group.

Commenting on winning the award, Majed Najm, Deputy Managing Director Corporate and Institutional Banking at SABB, said “customer service and experience remains a priority for us and we are delighted to win this award and to be recognized as the leading trade finance bank in the Kingdom. The award serves to highlight that we continue to lead from the front in providing innovative and customized 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.” — SG