EmerioBanque

Euromoney Named SABB As Market Leader In Trade Finance In Saudi Arabia

As per the recent news, Euromoney has named Saudi British Bank (SABB) as the “Best Trade Finance Service Provider” and “Market Leader” in Saudi Arabia for 2023. This is the 7th successive year when SABB has reaped the award as the market leader, widely acknowledging SABB as the leading trade finance bank in the Kingdom.

This recognition is based on a survey by Euromoney, where Saudi corporates have acknowledged SABB as the market leader within the trade finance sector. The survey takes into account corporates’ opinions on their banks’ capacity in facilitating trade finance instruments, solutions, quality of services, and market share.

In 2022, SABB proceeded with its emphasis on the client experience, digitization, and the development of trade potential for clients, providing a range of digital endeavors, including a newly introduced digital trade solutions package focused on improving letter of credit, and assurance system for firms’ global business procedures by collaborating with blockchain-based digital platform Contour and regional fintech Bwatech. SABB is also the first bank in the kingdom to execute an international trade transaction via blockchain technology, preventing risk and paper in the sector and effectively increasing the speed of trade and liquidity in the market.

Remarking on the awards, Yasser Albarrak, chief corporate and institutional banking officer stated, “We are glad to be honored with these awards, which reflect our leading position, and distinction in offering innovative solutions that cater to the increasing and diverse requirements of our clients in a market that is experiencing developing growth at several levels. These awards are determined by a customer satisfaction survey, which is evidence of our effective approach in offering products and services in trade finance that is broadly acknowledged by clients.”





Other news

Exchange Rates

Currency Buy Sell
EUR USD 1.06 1.10
EUR GBP 0.86 0.89
EUR CHF 1.02 1.06
EUR AUD 1.72 1.70
EUR JPY 116.08 116.56
EUR MYR 4.50 4.77
EUR SGD 1.53 1.57
EUR HKD 8.27 8.53
EUR CAD 1.54 53.84
EUR DKK 9.75 1.55

Most Recent Blogs View All Blogs

06 May

Accelerating Digital Transformation In Trade Finance

The intense need for digital trade finance is not hidden from anyone.The present volatile market hig...

03 May

How Digitization Brings New Opportunities In Trade Finance?

ISO 20022 will turn into a new universal standard for electronic information exchange between financ...

26 Apr

What is a Transferable Letter of Credit and How Does it Work?

What is a Transferable Letter of Credit?A Transferable Letter of Credit is a letter of credit facili...

Disclaimer

Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing help@emeriobanque.com

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at compliance@emeriobanque.com if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.