HSBC Saudi Arabia, the investment arm of the Saudi British Bank – SABB, has been named the best investment bank in Saudi Arabia by Euromoney magazine.

Walid Khoury, chief executive officer, HSBC Saudi Arabia received the award at the annual Euromoney Awards special event held recently in Dubai and attended by Fouad Bahrawi, SABB board member and David Dew SABB managing director.

The Euromoney awards are given to institutions and individuals that demonstrate leadership, innovation, and momentum in the markets in which they excel. The judges giving the award take into account both the breadth and depth of HSBC’s coverage in the region.

Euromoney said: “HSBC Saudi Arabia bank dominates the country’s debt capital markets, with a 47 per cent market share this year, and was also solid in equity league tables and across all investment banking products. It excelled in Saudi Arabian equity research. It was mandated lead arranger in the Jubail and Ma’aden projects, and the bank remains a dominant player in flow and risk advisory in the Kingdom.”

In constantly challenging market conditions, HSBC Saudi Arabia maintained its position as the most innovative debt house and continued to be the house of choice for sukuk issuers accessing Islamic financing in Saudi Arabia having led more than 96 per cent of all domestic Sukuk transactions in the market.

It is the only investment bank with a fully fledged Saudi-based project team, a statement said.

“We are delighted to be recognized as the Best Investment Bank in Saudi Arabia,” said Khoury.

“Thanks to our customers' trust and our teams' excellence, HSBC Saudi Arabia has won the prestigious Euromoney Award of Best Investment Bank in Saudi Arabia for the third year in a row.”

“This award highlights once more our commitment to provide the best service to our customers and the best training to our staff, particularly the Saudi young graduates,” he added. – TradeArabia News Service