Euromoney: Samba's financial indicators remain above the industry's average
Samba Recognized by Euromoney as "Best Bank in Saudi Arabia" and Sambacapital as "Best Equity House in Saudi Arabia" for 2008
Samba Financial Group has been named for four straight years "Best Bank in Saudi Arabia 2008" by Euromoney through its annual Awards for Excellence. With this, the Group has won this accolade for 13 of the last 16 years in the history of the Award, which emphasizes its global reputation and ability to maintain a solid and consistent financial and banking position to gain the trust of leading rating agencies.
Euromoney has also named Sambacapital as "Best Equity House" in Saudi Arabia for 2008.
Mr. Eisa M. Al-Eisa, Managing Director & CEO of Samba, and Chairman of Sambacapital said "these two accolades reflect the confidence in Samba and Sambacapital as being pillars of banking and financial industry in the Kingdom and reflect the continuous pursuit for excellence through which Samba and Sambacapital were able to maintain the world-class standards of service delivery, which prompted the rating agencies and financial specialists to the two institutions on top of the banking and financial institutions in the kingdom and the region, thanks to their unparalleled and continuously evolving services and products that match with the global financial and banking criteria.
"We extend our deep thanks and gratitude to Samba and Sambacapital's customers for their loyalty which is the foremost stimulus to proceed with our quality services" says Al Eisa, who also commends the tireless and professional efforts of Samba and Sambacapital employees, which stand firmly behind all achievements and their pivotal role in serving the clients' needs and supporting the local banking industry.
In its comment on the accolades, Euromoney noted that 2007 had been a difficult year for Saudi banks but Samba's financial indicators remain above the industry's average. The Magazine highlighted that "Samba is also the most innovative bank in the Kingdom. It is, for example, the first bank in Saudi Arabia that offers a full spectrum of online services to its customers including banking, local and international equity trading".
This year's awards process attracted over 600 submissions from the world's leading banks and brokerage houses competing for the awards. Euromoney's dedicated research team and awards panel then rated all the submissions on both quantitative and qualitative factors such as KPI's, financial ratios and innovation over the 12 month period to decide the award winners.
Euromoney Magazine was founded in 1969, and it is the voice of the international capital markets and specialized in rating Global trade finance businesses. For 16 years now, Euromoney has been giving annually its prestigious awards for excellence to the banks and brokerage companies in the global banking industry, during which Samba has managed to maintain its premier position as a winner.