The Saudi British Bank (Sabb) has been named the ‘Best Trade Finance Bank’ in Saudi Arabia for 2012 by leading international publication in banking and finance, Global Finance magazine.

Global Finance editors selected the best trade finance banks in 78 countries and regions, the criteria for which included transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies, Sabb said in a statement.

The award is based on the bank’s performance during 2011 and it is the fourth consecutive year that it has won the award, the statement said.

Sabb offers a suite of conventional and Shariah-compliant trade products with the ability to structure and implement bespoke solutions to meet complex requirements of local and multinational customers, using local expertise and resources backed by HSBC’s global presence.

It continuously educates and informs Saudi customers about emerging trends in international trade through unique initiatives like ‘Trade Confidence Index’, sponsorship of the ‘Guide to cash, treasury and supply chain management in the Middle East’, various customer engagements events (both locally and overseas) and the SABB Trade Academy which is aimed at educating customers on the concepts, procedures and rules related to international trade and ways to mitigate the associated risk.

David Dew, managing director of SABB, said: 'Customer care is a priority for us and we will continue to provide the highest service quality and respond to client needs through innovative products and solutions.”

“Trade and supply chain remains a key focus area for Sabb and we remain committed to meeting the domestic as well as international trade requirements of our clients as they seek to expand their businesses,” Dew concluded. – TradeArabia News Service