Samba Financial Group maintained its position as the "Best Bank in Saudi Arabia in 2011" for the sixth consecutive year, according to an annual survey conducted by "Global Finance" Magazine, a specialized international banking and finance publication. The selection process targeted the best performing banks in the emerging markets across the Middle East, with the selection commission for the awards comprising of industry analysts, senior executives and banking consultants. The poll spanned 13 countries and the results are scheduled to be published in the magazine's May 2011 issue.
Samba was ranked top amongst all banks operating in Saudi Arabia for 2011. Criteria for choosing the winners included growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products. "We remain in an unusually challenging environment for banks and their customers" says Joseph Giarraputo, publisher of Global Finance. "More than ever, customers are demanding superior competence from their banking partners and these are the banks best providing that competence."
To mark the occasion, Mr. Eisa M. Al Eisa, Chairman of Samba Financial Group, said, "Winning a number of recognised international awards in successive years, including the prestigious Global Finance awards, reaffirms Samba's leading position in the banking and finance industry, both at a regional and global level. As a result of our commitment to pursuing a strategic approach to innovation and continuous development Samba has earned international recognition and reputation, a matter that we consistently strive to maintain through exemplary performance across all business sectors".
"Through our accumulated experience, sizable capital base and active presence in the banking arena in the Kingdom and the wider region, Samba will continue to reinforce its pioneering position and reach levels of unrivaled efficiency and quality of service, underpinning the bank's reputation and growing confidence" Al Eisa added.
Global Finance's "Best Bank in Saudi Arabia in 2011" award adds to a list of more than 26 other accolades picked up by Samba on a local and regional level in different banking and finance segments throughout 2010 and 2011, awarded to the bank by different international institutions and magazines such as Global Finance, Emeafinance, the Banker and Asian Banker.