Saudi Arabia’s Oldest Bank Beats Region’s Best to Win Two Corporate Excellence Awards

Alawwal bank won the Middle East’s ‘Best retail bank’ and ‘Banking CEO of the year’ at the recent Lefonti Awards held in Dubai. The awards are part of an international programme celebrating corporate excellence amongst the region’s most recognisable brands. 

Soren Nikolajsen, CEO, Alawwal bank, said: “We are the longest serving bank in the Kingdom of Saudi Arabia. 91 years on and we are still winning awards. That’s because we’ve never stood still and we’ve never taken our customers for granted. Everyone at Alawwal bank can be extremely proud.”

As Saudi Arabia’s first bank, Alawwal (formerly known as Saudi Hollandi Bank) has often pushed the boundaries of banking in the Kingdom. The institution created the Kingdom’s first commercial bank and helped issue its first independent currency. While building its reputation on corporate institutional banking, Alawwal bank has invested more recently in its retail arm. The bank extended its branch network into new communities and built a market-leading digital proposition for the Kingdom’s large millennial, digital-first population. 

Nikolajsen added: “We’re proud to have created a new concept of retail banking that really works and customers enjoy using. Our IBDA digital branch has eliminated queues, instead creating a social space where you can take a coffee break and do your banking at the same time.  You can walk in, open an account, get your lunch and walk out with a credit card in under 10 minutes.”

On receiving the Middle East CEO of the year in banking Nikoljasen added: “My job is to protect and enhance Alawwal bank’s strong legacy but I can only do that if I caninspire the team around me to do the same. Everyday the team proves they are proud to be part of this bank and work very hard to build relationships of trust with our customers. For this reason my CEO award belongs to all the team at Alawwal bank.”