SABB Named as the Regional Leader of Financing Sustainable Projects

SABB or the formerly known as the Saudi British Bank, has been named as “the leading bank in financing sustainable projects, in the Middle East” for the Year 2021, by Global Finance.

That was a part of its annual Excellence Awards, honoring the best financial institutions worldwide.

SABB was chosen for this award based on a set of international standards of excellence, in several areas, including sustainable finance, community support, emerging market development and infrastructure.

The award acknowledges the bank’s efforts and contributions to sustainability of environmental, social and institutional governance, in the Kingdom and the region as a whole.

The newly introduced awards program recognizes global and regional leadership in Sustainable Finance, funding for initiatives designed to mitigate the negative impacts of climate change and help build a more sustainable future for humanity.

Mr. Majed Najm, Deputy Managing Director of Corporate and Institutional Banking at SABB, commented on winning the award: “We are delighted to win this prestigious award, which is a true testament to the pivotal role that the principles of social and environmental sustainability play, in the strategy of the bank”.

“We look forward to contribute more effectively to achieving sustainable development goals and building a promising future, in line with the Kingdom’s Vision 2030” Najm added, stressing that SABB is fully prepared to support sustainable development initiatives and actively contribute to the shift towards supporting and encouraging green initiatives, and environmentally friendly projects.

SABB puts sustainability, social, environmental and institutional governance, at the center of its strategy, for the next five years.

It has recently demonstrated its commitment to Environmental, social and corporate governance (ESG), by acting as one of the Mandated Lead Arrangers on the SR14bln financing, raised to fund the Red Sea project, the Kingdom’s flagship for luxury tourism development, as the first green credit facility denominated, in Saudi Riyal, setting new standards in the field of green loans.