News 2006

Oct 2006


After Receiving "Best Bank in the Middle East" and "Best Bank in Saudi Arabia" Awards
Al-Eisa: Samba Proceeds steadily in maintaining its Escalating Growth Rates, Strong Performance and Financial Position A Separate Brokerage Company will be Launched Soonamba Launched 2 investment Funds in GCC Equities

Mr. Eisa Al-Eisa, Samba Managing Director and CEO affirmed the solid and stable financial position of Samba Financial Group and its ability to post escalating growth rates, which signifies success of its strategy and risk confrontation approach, as well as its ability to diversify its assets and develop its financing schemes and banking services.

Al-Eisa spoke to the press after he received 2 world-class awards, "Best Bank in Saudi Arabia" from Global Finance and "Best Bank in the Middle East" from Emerging Markets, A Euromoney subsidiary. The event took place on the sidelines of the preliminary meetings of the World Bank and the International Monitory Fund held in Singapore recently, and attended by a number of worldwide governmental as well as business and banking industry leaders.

Al-Eisa commented on the event "receiving these awards during such an international event reaffirms the evolving rank and reputation of Samba as a premier bank not only locally, but on the regional and world levels as well, which we endeavor to maintain and boost through our world class developmental programs and plans aiming to deliver high quality products and services.

Further, Al-Eisa shed light on the next developments at samba "we intend to launch a brokerage company before the middle of 2007 to provide professional, investment and brokerage services on separate basis from Samba, according to the regulations of the Financial Market Authority". Al-Eisa added "setting up brokerage companies is a healthy step to enhance the investment experience in the Kingdom and provide professional, investment and financial solutions to investors". Finally Al-Eisa called upon investors to be cautious and prudent upon taking their investment decisions to avoid the highly risky financial markets.