In a recent economic report, Samba Financial Group was ranked as the second highest Arab bank in terms of realizing profits during 2009. The ranking acknowledged the strong financial position of the Group, in spite of the consequences of the global financial crisis, instability in global financial markets and the downturn trend witnessed by the banking industry. The report, which listed the top 150 Arab banks, was compiled by "Al Eqtisad and Al A'amal" magazine and published in its October 2010 issue. This report coincided with the announcement of Samba's third quarter financial results which saw Samba post a net profit amounted to SAR 3534 million, coupled with an increase in equity by up to 17% when compared to quarter three 2009.
Samba Financial Group, the premier banking services provider in Saudi Arabia announced the formal launch of their mobile banking applications for the Apple iPhone and Blackberry handheld instruments. It is a fully transactional service that allows Samba customers to check their accounts, make payments and transfer funds through their mobile phones at anytime, and from anywhere using the same user name and login password as on Samba online.
Standard and Poor's (S&P), the international credit rating agency, has announced that it is raising Samba's rating from A to A+, with a Stable Outlook. This increased credit rating further underlines Samba's solid capitalization, strong funding and liquidity indicators, in addition to the balanced risk profile, despite the challenges faced by financial institutions during recent times.
Mr. Eisa M. Al Eisa, Chairman of Samba Financial Group, received Tony Blair, former UK Prime Minister and the Middle East Quartet Peace Envoy, at Samba's head office in Riyadh. Top Samba executives joined Al-Eisa in welcoming Mr. Blair and his team.
Samba Financial Group, the leader in the Saudi Arabian credit card business, has launched Samba Visa Infinite Card, in keeping with the bank's continued high standards of innovation and responsiveness to the needs of its customers. The cards are fully EMV Chip compliant for enhanced comfort and security. This move reaffirms the leadership of Samba Cards in the card business and premium cards market.
Sambacapital, the investment arm of Samba Financial Group, has been awarded three accolades from Global Finance, a specialist international magazine focused on the financial and banking industry. The three awards are "Best Investment Bank in Saudi Arabia", Best Investment Bank in the Middle East" and "Best Equity Bank in the Middle East" all for 2010.
Samba Financial Group has opened its first branch in the Qatari capital Doha, becoming the first Saudi bank to establish a presence in the State of Qatar. Samba has obtained all the necessary licenses to open its office in the Tornado Tower in West Bay, the most prestigious Business District in Doha.
Samba Financial Group received four accolades as Best Project Finance House in the Middle East for the third consecutive year in 2009 from emeafinance, a global financial magazine specialised in monitoring and analysing banking and financial activities in Europe and the Middle East. These awards are in recognition of the Bank's prominent role and distinguished financing performance in supporting mega projects in the region throughout 2009 despite the challenges and difficulties faced by the banking and financial industry worldwide. This emphasises the Bank's ability to continue its efforts to meet the financing needs of its clients and support their aspirations and development plans.
Mr. Eisa M. Al Eisa, Chairman of Samba Financial Group, announced today that Global Finance magazine, a specialised international magazine for the banking and financial industry, has awarded Samba Financial Group the title of 'Best Bank in Saudi Arabia in 2010'. This is the fifth consecutive year that Samba has won this accolade. The selection commission for the awards is composed of editors, top industry analysts and specialists in the banking sector. The selection process targeted the highest performing banks in the emerging markets across 13 countries in the Middle East and comprises of a series of standards, such as growth of assets, profitability, strategic relationships, innovative products and competitive rates, through which Samba showed leadership amongst its peers and high performance across all activities.
Samba Financial Group signed a collaboration agreement with Sejel, which operates and develops the Hajj and Umrah Information Centre. The agreement implements an automated payments system for the Umrah sector as from this year's season. The move represents a significant leap forward in the field of Umrah automated payments services, combining speed, flexibility and security.
Mr. Eisa M. Al-Eisa, Chairman of Samba Financial, received yesterday (Sunday) evening a "Lifetime Achievement Award for Business Sectors in Saudi Arabia 2010" from CEO Middle East magazine, in recognition of his leadership of Samba Financial Group and his significant contribution to business in Saudi Arabia. Through his visionary leadership and ability to capture opportunities and identify challenges, Mr. Al Eisa has managed to realize unprecedented achievements on the local and regional arena that have contributed significantly to the development of the Saudi banking and financial sector.
Samba Financial Group has renewed its housing financing agreement with the Saudi Electricity Company (SEC) for another year expiring at the end of this year. This initiative, launched by Samba and SEC in May 2009, aims at extending the necessary facilities to SEC employees who wish to own homes under facilitated financing schemes.
Mr. Eisa M. Al-Eisa, Chairman of Samba Financial Group, said that Moody's, the international credit rating agency, has raised Samba's rating from A1 to Aa3, with Stable Outlook on all ratings, which signifies the high quality of Samba's assets and strong financial performance.