Al Eisa: Sambacapital receives 3 awards from Global Finance in 2011
Sambacapital, the investment arm of Samba Financial Group, has been awarded three accolades from Global Finance magazine. The three accolades, all for 2011, are: "Best Investment Bank in the Middle East", "Best Equity Bank in the Middle East" and "Best Investment Bank in Saudi Arabia". Sambacapital was named "Best Investment Bank in the Middle East" for the sixth consecutive year since 2006.
Mr. Eisa Al Eisa, Chairman of Sambacapital commented on the awards, saying that: "Being selected as winners of such accolades for several years by such an internationally credible and reputable magazine, reflects Sambacapital's formidable and consistent performance, despite the challenges and difficulties still facing the banking and investment industry, not only in the region, but also at a global level, driving us to reach this advanced level of achievement and place ourselves alongside the major international banking institutions". Al Eisa also pointed out that Sambacapital keenly adopt highly professional policies and standards, backed up with deep expertise implementing its investment programs distinctively.
The selection of Sambacapital for these awards came after the annual evaluation conducted by Global Finance, a specialist international magazine focused on the financial and banking industry, to choose the best investment banks in 2011, which will be announced in the magazine's April 2011 edition. The awards committee at Global Finance included industry experts and the magazine's editors, who all used a select series of criteria to scrutinize companies in various sectors. The criteria included market share, the number and size of deals, service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, after-market performance of underwritings and market reputation. Deals announced or completed in 2010 were also considered. "The best institutions are those that have a business model focused on customer needs" said Global Finance publisher Joseph D. Giarraputo.
Global Finance had also chosen Sambacapital to receive those three awards in 2010, in addition to other awards collected by Samba Financial Group, including "Best Bank in Saudi Arabia" for five consecutive years. Samba was also ranked first as the most secure bank in Saudi Arabia on the basis of credit ratings from major international credit rating agencies, during the last survey conducted by the magazine in October of last year. Moody's raised its rating of Samba in 2010 to Aa3, followed by Standard & Poor's, who raised the bank's rating to A +, while Fitch and Capital Intelligence maintained their high ratings of Samba, making it the highest rated bank in Saudi Arabia.
Al Eisa attributed the distinguished reputation and the continued success of the Bank throughout its rally to the growing loyalty of its customers to its products and services, which have always been a catalyst for more innovative solutions that meet client aspirations. Al Eisa extended his thanks and appreciation to Samba's shareholders for their valued trust as well as to Samba's staff who have a proven track record of efficiency and ability to innovate and take the Bank to advanced ranks of excellence.