Samba Receives Four Accolades from emeafinance as Best Project Finance House in the Middle East in 2009
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.
Samba was selected by emeafinance through an assessment conducted by the magazine recently of prominent banking and financial institutions in the Middle East that completed financing deals during 2009. The analysts and experts who were involved in the evaluation have the upmost confidence in Samba resulting in the presentation of these awards. The four awards are "Best Project Finance House in the Middle East", "Best Project Finance Deal in the Middle East" for participating in the financing of a power plant project, for a total amount of USD 1.9 billion, "Best Water and Power Project Finance Deal in the Middle East" for a total amount of USD 2 billion and "Best Oil and Gas Project Finance Deal in the Middle East" for a total amount of USD 1.4 billion.
Mr. Eisa M. Al-Essa, Chairman of Samba Financial Group, expressed his gratitude that the international publishing and rating institutions have confidence in Samba, which is embodied in the variety of accolades awarded to it. These accolades include the emeafinance awards, which emphasises the leading role played by Samba in supporting vital projects in the region, through participation in their financing in line with the Bank's firm developmental vision, and its aspirations as a strategic partner in permanent comprehensive development in the Kingdom and the region.
Al Eisa ascertained that Samba's continued funding activities throughout 2009, despite a drop in the activity of bank financing in the world, reflects the financial strength, stability and balance enjoyed by the Bank. These entitle Samba to maintain its leading role in providing financial solutions to meet its customers' needs in different sectors and also stressing that Samba will continue advancing development in the Kingdom and the region in tandem with its leading role in the Saudi financial and banking sector.
With these four awards, Samba has received a total of 24 accolades throughout 2009, some of the most important ones are "Best Bank in Saudi Arabia", "Best Risk Management Bank in the Middle East" and "Best Investment Bank in Saudi Arabia and the Middle East" by Global Finance magazine, "Best Structured Finance Deal in the Middle East" by The Banker and "Best Retail Bank in Saudi Arabia" by The Asian Banker.