The Saudi British Bank (SABB) has been named as the ‘Best Trade Finance Bank’ in Saudi Arabia for this year by the Global Finance magazine.

The recognition from the magazine comes after an assessment of transaction volumes, scope of global coverage, customer service, competitive pricing and innovation of the leading trade finance providers in the kingdom, said a statement.

It also took into account feedback from key decision makers in multinational companies globally, alongside traditional input from industry analysts, corporate executives and technology experts, it said.

Last year, SABB continued its focus on client service, product innovation, and the development of trade opportunities for clients.

It successfully rolled out a number of key initiatives directed towards helping its clients grow their trade-related businesses.

The initiatives included an expansion of trade corridor initiatives with key trade partners of Saudi Arabia continued education of customers on emerging trends and risks associated with international trade through its ‘Trade Academy’ and ‘Trade Confidence Index’ initiatives; various customer engagements and thought leadership events with participation from key industry experts; extension of its product suite and services; and continued expansion of Renminbi (RMB) trade related capabilities, where it remains the leading bank in the kingdom.

SABB has provided global connectivity through its association with HSBC Group, and a range of sophisticated and customised conventional and sharia-compliant trade finance solutions to meet growing trade and supply chain needs of its clients, said the statement.

Majid Abdulrahman Al-Gwaiz, general manager of Commercial Banking at SABB, said: “Customer service and experience remains a priority for us and we are delighted to win this award and to be recognised as the leading trade finance bank in the kingdom.

“The award serves to highlight that we continue to lead from the front in providing innovative and customised solutions for the increasingly diverse, challenging and complex trade and supply chain needs of our clients and are proud to be recognised by them and the market in this respect.” - TradeArabia News Service