The Saudi-based Samba Financial Group provides conventional commercial and corporate banking services, investment banking, real estate management and Shariah-compliant products.

The Group was the second largest bank in Saudi Arabia, at the close of 2008, in terms of total assets SAR178.9 billion (USD47.6 billion) and had SAR4.45 billion (USD1.1 billion) in net profits, the second highest figure among the country’s commercial banks, during that year.

Samba’s main activity is commercial banking, which comprises three main divisions: consumer banking, which contributes 45% of the total operating income; corporate banking, which contributes 35% and treasury with 7%.

It established Sambacapital, in 2007, to handle its investment banking and asset management, which accounted for 13% of the bank’s total operating income, in 2008. Samba also entered the real estate sector in 2007, when it established the Samba Real Estate Company.

The Group expanded its commercial banking activities to Pakistan, where it has a majority share of 68%, in Samba Bank Limited, formerly known as Crescent Commercial Bank Limited.

Samba was established, in 1980, to take over Citibank’s branches in Riyadh and Jeddah, due to the Saudi nationalization program, which required all foreign banks to sell majority equity interests to Saudi nationals. Citibank retained management rights, under the “Technical Management Agreement”. It merged with United Saudi Bank, in 1999, and became the Samba Financial Group, in 2003, when Citibank relinquished management to Samba and later sold all of its remaining equity in the Group.