SABB ranks first Saudi bank in international equity trading
The Saudi British Bank (SABB) has taken the number one position among Saudi banks in international equity trading during the year 2002, accounting for more than 24 percent of the total trading done in the Kingdom, according to a report released by Saudi Arabian Monetary Agency (SAMA). In an earlier report SABB was also ranked number one Saudi bank in local equity trading for 2002.
David Dew, SABB executive director and chief operating officer, said: “Having captured the top spot in International equity trading, SABB has become the number one bank in terms of total value traded in both local equities and international equities in the Kingdom.”
“The Bank’s success in international trading can be attributed to the fact that in addition to covering all major international equity markets, we strive to provide expert assistance and excellent service to all our customers.” Dew added.
Earlier, SAMA had reported that SABB had retained the number one position in local equity trading in terms of value for the ninth consecutive year. While local share trading can be traded from some 22 designated SABB branches, international equity trading facilities are offered from the Bank’s five investment centers located in Riyadh, Jeddah, Dammam, Al-Khobar and Qatif.
The Bank’s technological capabilities with regard to its share trading system has been acknowledged by SAMA which awarded it the highest Tadawul Trading System rating. Due to its high technical capabilities SABB was also mandated as Floatation Manager of the STC Initial Public Offering (IPO) by the Public Investment Fund following which the Bank had secured more than 32 percent of the total value of subscriptions in the IPO. — (menareport.com)
© 2003 Mena Report (www.menareport.com)