SABB has been recognized for the first time by Euromoney as “Best Service Trade Finance” in Saudi Arabia, highlighting the bank’s leadership in innovative digital solutions, such as block chain-based traditional and open account trade solutions.

SABB has been named by Euromoney as the “Market Leader Trade Finance” bank in Saudi Arabia for the year 2020. This is the 4th consecutive year that SABB Global Trade & Receivables Finance (GTRF) has picked up the coveted award in this category, widely acknowledging the bank as the leading trade finance bank in the Kingdom.

The award is especially meaningful, given that it is based on the votes from Saudi corporates, who described SABB as the leading provider of trade finance products and services in the Kingdom. This feedback takes into consideration the corporates’ view on their banks' ability to provide Trade Finance products, solutions and quality of services.

Majed Najm, deputy managing director, responsible for Corporate and Institutional Banking at SABB, stated: “We are proud to receive these two awards, which reflect our leading position in Trade and Receivables Finance in an extremely competitive market that is evolving rapidly in different directions.

“At SABB, we are always keen to lead the market and find innovative and customized solutions to meet the needs of our customers and partners, to enable them to utilize the latest global banking technologies and products, developed for the corporate and SME business sectors.”

SABB is considered one of the leading banks in the Middle East in trade finance solutions, and is ranked as leader in launching digital products and services in Saudi Arabia. These digital solutions are aimed at promoting the use of trade finance to inject liquidity across all business segments from Large Corporate through to SME, in turn helping stimulate the economy and business development as one of the essential drivers to achieve the objectives of Vision 2030. – TradeArabia News Service