Saudi Arabia – SABB has been awarded the “Best Treasury and Cash Management Bank” in Saudi Arabia for 2020 by The Global Finance Magazine. This award underpins SABB’s leadership in cash management within the Kingdom.
The recognition from Global Finance is based on 2019 results and comes on the back of a detailed assessment in terms of competitor benchmarking, product range, customer experience and innovation amongst the leading cash management providers in the Kingdom. The review also takes into account feedback from key decision makers such as corporate treasurers, industry analysts, executives and technology experts. In 2019 SABB was proud to offer a number of market leading initiatives to capitalise and build upon the growth opportunities created under Vision 2030. For instance, SABB was the 1st bank in MENAT region to go live with SWIFT gpi for Corporates to initiate and track cross border payments. Further using blockchain technology, the bank offered Ripple Solution for Cross Border Payments for certain key currencies and more to follow. The bank also rolled out Liquidity Management Portal, a market first that aims to provide Treasurer’s and CFO’s with a dashboard view of companywide liquidity on a multi-bank basis.
Commenting on the award, Majed Najm, Deputy Managing Director – Corporate and Institutional Banking at SABB said “This is a testament to the consistent progress being made by our Global Liquidity & Cash Management teams in terms of solution structuring, continued demonstration of thought leadership and advisory to clients. The award also speaks about our ability to meet and service increasingly complex and technology enabled needs of our clients”.
Ghada Al Jarbou, General Manager & Head of Global Liquidity & Cash Management at SABB further said “The award is reflective of the continued improvement demonstrated by SABB (vis-a-vis competition) in terms of its overall product offering. The combination of our best in class solutions, services and global reach through the partnership with HSBC group enables SABB to position itself as a market leader in Saudi Arabia’s Cash Management space”.