Samba Jumps 15 Positions and Ranked 66 among Global Banks
Mr. Eisa M. Al Eisa, Samba managing Director and CEO, emphasized that Samba's achievements are no more confined to local level, but its resounding reputation is highly ranked by the international rating institutions. He was commenting on the Financial Times ranking results published recently, according to which Samba Jumped 15 positions to be ranked 378 (with market value USD 23.6 billion) among the top 500 global companies in terms of market value as at the end of the first quarter 2007, whereas it was ranked 393 in the last list at end of 2006. Samba also advanced to position 66 among the top banks in terms of market value.
"Maintaining a rank among the top 500 companies in the globe for the third year in the row signifies the local management's success to maintain high performance standards and its ability to advance the Bank to world-class levels in terms of service quality, financial strength, and sound strategy.
Albeit the sharp downturns in the local stock market during the past period, which adversely affected the banking and financial performance of Saudi Banks, Samba managed to maintain its growth rates and overcome the challenges thanks to the dedication of its staff and farsighted vision of its management", Al Eisa says.
Al Eisa pointed that this ranking comes parallel to Samba's recent steps in implementing its expansion strategy targeting to capitalize on investment opportunities, not only on the local level, but also on the regional and global levels. The recent acquisition of 68.4% of Crescent Bank Limited of Pakistan reflects this trend, which is rooted in the comprehensive investment and developmental vision of Samba. This rating comes in line with the extensive signs of appreciation to Samba from global agencies, a tangible evidence of Samba's global reputation that reflects its advanced services, efficiency and growth.