Samba Financial Group awarded Best Commercial Bank in Wealth and Society in Saudi Arabia at the inaugural Global Wealth and Society Awards 2018

• Samba leveraged its strong brand proposition to expand to new clients
• Recorded active user base on its digital platform
• Responded to national priorities in creating meaningful employment opportunities

London, November 8th 2018- Samba Financial Group received the Best Commercial Bank in Wealth and Society in Saudi Arabia award at The Global Wealth and Society Awards 2018. The award ceremony was held in conjunction with the Future Wealth Summit 2018,at the Courthouse Hotel Shoreditch, London.

The London-based Global Wealth and Society Awards Programme seeks to recognise high and ultra-high net-worth individuals who use their wealth to bring about positive impacts on the society that they operate in, and the institutions that help them do so. Recipient of these awards underwent a stringent and comprehensive evaluation process, demonstrating the verve to deploy wealth in ways to bring about positive impacts on the society and at the same time make positive financial return on client investments.

Samba leveraged its strong brand proposition to expand to client base

As the foremost provider of private banking service in Saudi Arabia, Samba Financial Group continued to attract new ultra-high net worth individuals (UHNW) clients, accounting for 10% of total market share in the country. Along with a strongbrand value and credible reputation, the expansion of its client base was driven by an exclusive range of product suite; Sambagold, Sambadiamond, and Sambaprivate to cater to different wealth segments. The bank successfully on boarded 900 high and ultra-high net worth clients in 2017.

Recorded active user base on its digital platform

In the period under review, the bank increased efficiency to executecomplex solutions whilst balancing financial risks and reduced its time-to-market of three to four months. Moreover, with the capability to settle 97% of total transactions on its digital platform and an active channel user base of 60%, the bank has been able to demonstrate successful optimisation of digital value capture from it digital transformation efforts.

Responded to national priorities of creating meaningful employment opportunities

As a partner of prosperity and catalyst for growth, the bank responded to national priorities in creating meaningful employment opportunities for young Saudi graduates. Both in financial and non-financial capacity, the bank sponsored training programs to equip Saudi graduates with soft and technical skills to promote social mobility for the next generation. The bank was active in community development programs aimed at improving the living standards of Saudi citizens.

At the awards ceremony, DBS Bank of Singapore was named the Best Private Bank in Wealth and Society in Asia-Pacific. Other Best Private Bank in Wealth and Management Award winning institutions include Indonesia’s Bank Mandiri, South Korea’s KB Kookmin Bank, Saudi Arabia’s Samba Financial Group, Thailand’s Kasikornbank and Turkey’s TEB Private Bank

For specific details relating to description of the awards, evaluation criteria and process, kindly visit http://www.wealthandsociety.com/theglobalwealthandsocietyawards/criteria

For all Wealth and Society Awards 2018 photos, please visit https://www.facebook.com/pg/wealthandsociety/photos/?tab=album&album_id=368836930527229

For media enquiries, please contact:

Alfred Labiccasi
Marketing Manager
Wealth and Society
Tel: (+44) 1823 711134
alabiccasi@wealthandsociety.com
www.theasianbanker.com