Riyad Bank awarded with Middle East’s best bank for SME’s 2020 presented by Euromoney, within Euromoney Excellence annual awards which consider as one of the most prominent international institutions that are specialized in evaluating the bank's performance, as appreciation for Riyad Bank distinguished leadership for supporting SME’s and its ability to develop a package of services and financing solutions.
<p>Riyad Bank awarded with Middle East’s best bank for SME’s 2020 presented by Euromoney, within Euromoney Excellence annual awards which consider as one of the most prominent international institutions that are specialized in evaluating the bank's performance, as appreciation for Riyad Bank distinguished leadership for supporting SME’s and its ability to develop a package of services and financing solutions.</p><p>Riyad Bank was chosen by a committee for this award that contains experts and specialists, based on a series of evaluation criteria to measure the performance of the institution that is nominated for the award to confirm the achievements and qualitative development that Riyad Bank continues to score in supporting the SME’s, and the quality of the provided solutions that they offered and raise the efficiency of its productivity, competitiveness and increase their contribution with the GDP, where the banks showed remarkable excellence in its approach.</p><p>Tariq AlSadhan, Riyad Bank CEO expressed, that Riyad Bank is proud of this choice which will be added to the package of awards that Riyad Bank won it honoring for its efforts to develop the package of services that's provided for SME’s, in line with vision 2030.</p><p>Also, Alsadhan adds that Riyad Bank adopted a long term strategy to support SMEs and constantly regular valuation to ensure the development to meet its aspirations and stimulates its efficiency and competitiveness, pointing out that the growth indicators pointing out that Riyad Bank’s efforts growth indicators during 2019 in this field, the most notable was SMEs loans portfolio increased by 45%, while keeping a high level of quality for the credit portfolio, in the same time that the bank’s kept its place on the top for the third year in a row to the list of the top supporter of the SMEs financing program Kafalah, also in terms of the total number of guaranteed enterprises. Riyad Bank has funded 36% of the total number of SMEs during the year which makes it earned the “ Best Bank in Saudi Arabia for SMEs “ and “Best supporter for SMEs targeted sector of vision 2030 “</p><p>The statistical data for the first quarter of 2020 increase in financing portfolio that's given to the SMEs through the bank’s 30.9% compared to the same quarter last year, the advances portfolio reached 22.1%.</p><p>In addition, he mentions that one of the new procedures and development that the bank’s achieved during the year is launching a package of creative specialized finance for supporting a small business that has creative activities as companies that creates applications, technology companies, and startup companies according to the bank’s belief in the promising opportunities for these business activities.</p><p>Then he concluded his talk with thanking SME’s team at Riyad Bank for their efforts and Riyad Bank’s clients for their trust, assuring that Riyad Bank is committed to making new success stories by empowering the young people to turn their ideas into a realistic project.</p>
