The Saudi British Bank – has been named Saudi Arabia’s strongest bank in 2009, by the highly influential publication, The Asian Banker.
In a detailed report on the 92 leading banks in the Middle East, the magazine places SABB as the seventh strongest bank in the whole region.
The Asian Banker’s assessment calculates business strength on the basis of a range of key indicators including balance sheet growth, risk profile, profitability and asset quality and, as a response to the financial crisis, liquidity.
SABB’s position among the kingdom’s top four banks by assets was only one factor in the researchers’ assessment. The report emphasises that size alone is rarely equivalent to strength; large banks can earn some points for their size, but they also need to score high in the other indicators as well to show up high on the strength chart.
“With this ranking, we are the first to provide banks in the Middle East with a view of their strengths relative to other banks in the region. And as commerce between the Middle East and the rest of the world grows, the information in this report can open the door for banks around the world to learn more about their counterparts in the exciting Middle East region,” said Christian Kapfer, associate director of Asian Banker Research.
“This accolade is a tribute to SABB’s strategic approach to assessing risk in its lending and investments, to its accurate targeting of its business expansion activities and to the commitment of the bank’s front line and support staff to our customers by more closely meeting their needs through increasingly high quality processing and delivery of services,” added Richard Groves, managing director of SABB