SBL’s Financial Institutions Group (“FIG”) is the client sector within Global Markets responsible for all aspects of Correspondent Banking relationships with financial institutions both locally and internationally. This is inclusive of, but not limited to all foreign and local commercial banks, Non-Banking Financial Institutions (NBFI’s), Insurance Companies, Asset Management Companies (AMC’s) and Micro-Finance Banks (MFB’s).
FIG is responsible primarily for handling all correspondent banking requirements for SBL which includes managing Nostro and Vostro account relationships, institutional and cross border banking arrangements. The role of FIG also encompasses credit and risk reviews and allocation of FI lines and limits.
Apart from working with and having correspondent banking arrangements with most large multinational banks, SBL’s FI team also works towards developing synergies with our parent, Samba Financial Group (SFG), mainly to provide a platform for our clients to facilitate their business worldwide in general and through the Gulf countries in particular by leveraging SFG’s strength in the region.
SFG’s impressive long-term and short-term credit ratings respectively are as follows:
Standard & Poor's A+,A1
The Kingdom's most highly acclaimed bank
SFG is the most internationally acclaimed bank in the Kingdom of Saudi Arabia and the region, reaping more recognition from top publications and independent international organizations for its world class products and services than any other Saudi bank. Indeed, over the last two decades, SFG has been honored as the Best Bank in Saudi Arabia for virtually every year. Such unparalleled consistency shows Samba's enduring commitment to excellence, an unwavering commitment inspired by the trust and confidence of our customers through the years.