In a Survey conducted by Global Finance magazine to measure the creditworthiness of the 500 largest banks in the world
Samba named safest bank in Saudi Arabia and ranked among the safest banks in the world for the second year in a row
Global Finance, the leading international banking and finance magazine, has ranked Samba as the safest bank in the Kingdom of Saudi Arabia and one of the safest banks in the world in 2011, following its exclusive annual survey aimed at evaluating the long-term creditworthiness of the 500 largest banks around the world. The survey was based on banks' long-term credit ratings by major rating agencies such as "Moody's", "Standard & Poor's" and "Fitch", taking into account the total assets of the banks covered in the survey, where Samba showed both local and regional superiority.
The survey, overseen by prominent experts and analysts, evaluated the safest banks in Western, Central and Eastern Europe, Asia, the Middle East, North America, Latin America and Australasia, with Global Finance ascertaining that these banks have solid capital positions and superior risk management capabilities, given the world's sovereign debt crisis and financial volatility. Global Finance indicated that the survey was based on advanced criteria and serves as a reliable indicator to measure selected banks' creditworthiness. The survey results will be published in the October 2011 issue, during the Annual Meeting of the International Monetary Fund.
Mr. Eisa Al-Eisa, Chairman of Samba Financial Group, said "In light of this significant international evaluation, the Bank reaffirms its sound methodology and prudent balance of its financial and banking policies and procedures, which reflect a deservedly high creditworthiness, not only on a local, but also on a regional and global level". The Chairman pointed out also that Samba has capitalized on its solid capital base and trustworthiness, placing it among the world's largest banks in terms of efficiency and stability, and making it a safe option for major companies' customers and investors.
Al Eisa stressed that Samba deserves to be ranked at the top in terms of the safest banks in the Kingdom and the Middle East, especially in light of its achievements over recent years, despite the challenges and difficulties faced by the banking and financial industry. The bank's immunity has been proven, as has its ability to get the highest long term credit ratings from the international rating agencies, with "Moody's" giving Samba a long term rating of Aa3, "Capital Intelligence" at AA-, "Standard & Poor's" at A+, and "Fitch" at A+, with stable outlook from all agencies. Samba has also won 13 accolades worldwide this year, most notably being named "Best Bank in Saudi Arabia" by Global Finance for the sixth year in a row.