Samba ranked 41st on the list of the 50 safest banks in the world
Samba named as the Safest Bank in Saudi Arabia for the third year in a row
For the third year in a row, Samba Financial Group has managed to boost its position on the list of safest 50 banks in the world, maintaining its position as the safest bank in Saudi Arabia in 2012, as part of the annual assessment conducted by the internationally renowned, "Global Finance" magazine, a leading publication that specializes in banking and finance. The survey, used to draw up the list of 50 safest banks in the world, evaluated the long-term creditworthiness of the 500 largest banks around the world, along with the strength of their assets based on their credit ratings from the leading international rating agencies such as "Moody's'', "Standard & Poor's" and "Fitch". Samba showed outstanding performance and high credit quality which enabled it to maintain a position on the list.
"Global Finance" indicated in a statement issued that this year's survey, which was supervised by a group of industry analysts and experts, coincides with the crises and challenges hitting the global banking and financial industry, such as the European sovereign debt crisis, couple with slower growth and economic instability that has overshadowed banks' performance and ratings. The creditworthiness of banking institutions is a key decisive factor for both companies and investors and Global Finance stressed that the choice of banks covered in the list came in accordance with the advanced professional standards and they are considered to be a reliable indicator to determine the safest banks in the world based on the strength of their assets, stability and creditworthiness.
The bank continued its dominant local, regional and international presence in banking institutions' classification and rating lists, reflecting the keenness of its management to adopt balanced financial and banking policies that promote the bank's credit worthiness and asset quality maintaining its resounding reputation and as a result boosting the confidence of its customers as the safest bank.
Furthermore, the bank's credit worthiness encapsulates the banking policies adopted by the bank, especially as this is the main indicator upon which the International rating agencies measure a bank's stability and solidity, alongside the robustness of a bank's financial position. Samba's broad experience and profound know-how enables it to be given such advanced credit ratings and overcome the challenges facing the banking and financial industry and global financial markets around the world. The long-term credit ratings from the leading international agencies are Aa3 from "Moody's", AA- from "Capital Intelligence", A+ from "Standard and Poor's" and A+ from "Fitch", with stable outlook from all agencies.
It is worth noting that the full results of the survey will be unveiled in Global Finance's October 2012 issue. The winners will be honored in a special ceremony to be held in Tokyo, Japan on the sidelines of the annual meeting of the International Monetary Fund and the World Bank.