News 2008

May 2008

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Samba London… more than Twenty Years in Business
Al Eisa: Samba London Renovations Reflect the Pledge to deliver best-in-class value propositions

Samba Financial Group celebrated the Inauguration of Samba UK's Renovated Premises on Friday, April 18, 2008. Mr. Eisa Al Eisa, Managing Director and Chief Executive Officer of Samba Financial Group said that the major renovations of the Branch aims at keeping with the pledge to deliver best-in-class value propositions to our customers and to provide a state-of-the-art customer experience and a positive working environment.

Mr. Al Eisa commented on the event "UK Branch is one of longest established Middle Eastern banks in the United Kingdom (UK). It has been present in London for more than twenty years, starting as a representative office in 1984, only 4 years after establishing Samba, and upgrading to a fully licensed bank in 1987. Samba UK was the First Middle East's Bank in Europe. Samba UK's mission is to add value and an international perspective to clients from the Middle East, primarily Saudi Arabia and GCC states and Pakistan, supporting their business interests as one of their overseas banks of choice". Al Eisa commends the excellent location of the branch in the City of London, a world venue of banking activities. Samba UK's office is in Mayfair, an exclusive district of Central London, and is close to the Saudi Arabian and various Middle Eastern embassies and other landmark locations of London.

"Samba UK operates now in full capacity providing the same bundle of core services including Corporate & Investment Banking, Private Wealth Management, Trade Finance, and Treasury, for its individual and corporate clients, in a friendly manner, personal attention and excellent services according to the highest banking standards" says Al Eisa.

Al Eisa elaborated the services provided by Samba UK. He says "with regards to Corporate & Investment Banking, Samba UK is a well-respected and major provider of banking services both to leading multinational companies based in the UK and Western Europe that have or intend to develop strategic business interests in the Middle East; and to leading Middle East-based companies expanding their businesses into the UK and Western Europe, in addition to loan arrangement services.

In terms of Private Wealth Management, Samba UK offers its Private and Priority Banking clients a friendly, flexible and discreet service in comfortable, attractive, and familiar surroundings. Samba UK has extensive professional experience of UK legislation and regulations, and consequently has developed an in-depth knowledge of the UK market in particular and Europe in General.

In terms of Trade Finance, Samba UK's expert commercial knowledge of the Middle East - primarily Saudi Arabia, the GCC region, and Pakistan - gives it a distinct competitive edge in product pricing and structuring of transactions. Samba UK is constantly in touch with other branches present in different countries, and with European and Middle Eastern corporate, ensuring that its market intelligence is sharp and always current.

As for Treasury, Samba UK has access to a dedicated treasury desk providing foreign exchange spot products, loans & deposits, and 100% capital guaranteed products".

In conclusion, Al Eisa ascertained that Samba Financial Group will continue rendering its technical and financial support to its UK branch to ameliorate its competitive advantages in a highly competing environment in line with samba's strategy to support all of its branches and business units.