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Sun, 08 Nov 2009 | 06:47 GMT

SABB   (1060.SSE)
Last Trade
48.90 SAR
- 2.20%
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Updated: Mar 11, 2009
 
Joint Stock
 
 
Provides Islamic and conventional commercial banking services including deposits, credit cards and loans.
The Saudi British Bank until January 2007
1978
3,395 (As of Apr 01, 2009)
453
Saudi Arabia (85)
 
 
 
 
1060 
Ordinary 
SAR 
 
 Key Officers
Khaled Suleiman Olayan
Chairman
Richard W L Groves
Director and Managing Director
 
 Contact Details
Address:
SABB Building
Mosaad Bin Jalawi Street
P.O. Box 9084
Riyadh 11413
Saudi Arabia
 
+966 1-405-0677
 
+966 1-405-0660
 
sabb@sabb.com
 
www.sabb.com.sa

 
  Latest Headline
SABB presented with the Global Finance award - Arab News
 
  Business Overview
SABB is Saudi Arabia's fourth largest commercial bank in terms of 2008's total revenues and total assets. The bank provides conventional and Islamic commercial banking services.

Its history dates back to 1950 when it was established as the British Bank of Iran and the Middle East with branches in Jeddah and Al Khobar. The bank was renamed as the British Bank of the Middle East (BBME) and in 1959 was acquired by The Hong Kong and Shanghai Banking Corporation (HSBCHSBCLoading...), which kept its well-established name unchanged. Later in the mid 1970's, Saudi Arabia underwent a nationalization program that required foreign banks to sell majority shares (60% or above) from their domestic operations to Saudi nationals. Complying with this nationalization, 60% of BBME's shares were acquired by Saudi nationals while the HSBCHSBCLoading... retained the remaining 40% of the bank's equity. The BBME was renamed as the Saudi British Bank and finally became known as SABB in 2007.

SABB offers services in commercial banking, investment banking, private banking, brokerage, and Islamic banking (through Amanah Islamic banking division). By the end of 2008, SABB operated through a network of 85 branches, with a team of 3,232 employees.

In 2005, SABB extended its reach to insurance by establishing SABB Takaful CompanySABB Takaful CompanyLoading..., which offers life and non-life Islamic insurance (Takaful) services. SABB Takaful was established as a joint venture equally owned by SABB, and subsidiaries of the HSBCHSBCLoading... Group. SABB Takaful's IPO would offer 35% of the companies shares on the Saudi Stock Exchange (TadawulTadawulLoading...).
 
 
 Major Shareholders
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  Organization Structure and Related Entities 
Subsidiaries/Associates/Affiliates
 
Name  Country  Holding
SABB Securities Saudi Arabia 100.00%
HSBC Saudi Arabia Saudi Arabia 40.00%
SABB Takaful Saudi Arabia 32.50%
Sister Companies
 
Name  Country  Holding
Dar Es Salaam Investment Bank Iraq -
HSBC Algeria Algeria -
HSBC Amanah UAE -
HSBC Bank Egypt Egypt -
HSBC Bank International Limited UAE -
HSBC Bank Middle East UAE -
HSBC Insurance Brokers Limited UAE -
HSBC Private Bank UAE -
HSBC Saudi Arabia Saudi Arabia -
SABB Takaful Saudi Arabia -
The Hongkong and Shanghai Banking Corporation Limited Bahrain -
Divisions
 
Name  Country  Holding
Amanah Banking Sevices Saudi Arabia 100.00%
Related Organizations
 
Name  Country  Holding
Accounting and Auditing Organization for Islamic Financial Institutions Bahrain -
 
 
  Representatives
Auditors
KPMG Al Fozan and Al Sadhan
Ernst and Young Riyadh
 
 
 Summary Financials
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 Available to subscribers only. Information in this section includes key financials data such as Total Revenues, Net Profits, Totals Assets, Shareholder Equity, etc. » More Details
 
Company information provided by © 2009 ABQ Zawya Ltd.
 
 
    
 
 
 
 
 

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