This article is about the bank in Saudi Arabia. For the investment bank joint venture between HSBC and SAB, see HSBC Saudi Arabia. For the global HSBC Group, see HSBC. For other individual entities of the group, see HSBC Bank.
Saudi Awwal Bank (SAB)
Native name
البنك السعودي الأول
Company type
Public
Traded as
Tadawul: 1060
ISIN
SA0007879089
Industry
Finance
Founded
January 21, 1978; 46 years ago (1978-01-21)[1]
Headquarters
Riyadh, Saudi Arabia
Number of locations
81
Area served
Saudi Arabia United Kingdom
Key people
Lubna Olayan (Chairman)
Tony Cripps (Managing Director)
Products
Financial services
Revenue
$1.88 billion (2017[2])
Net income
$1.05 billion (2017)
Total assets
$90.79 billion (2021[2])
Owners
HSBC Holdings (31%) Public shares (69%)
Number of employees
5,000+
Subsidiaries
HSBC Saudi Arabia
SAB Insurance Agency Limited
SAB Insurance Services Limited
SAB Securities Limited
SAB Takaful
Rating
A1/P-1[3]
Website
www.sab.com
Saudi Awwal Bank (SAB) (Arabic: البنك السعودي الأول) is a Riyadh-based Saudi joint stock company in which global banking group HSBC owns a minority stake.[4] The bank traces its origins to the British Bank of the Middle East which was acquired by HSBC in 1959. In response to restrictions on foreign ownership of banks in Saudi Arabia, Saudi Arab British Bank (SABB) was created in 1978 to manage HSBC branches and assets in the country.
In May 2018, prompted by recent changes to Vision 2030 economic reforms, SABB announced its intention to acquire Alawwal Bank in the Saudi banking sector's first merger in twenty years.[5][6] On June 16, 2019, the official legal merger of Saudi British Bank and Alawwal Bank was completed, making the two banks one legal entity.[7] The bank adopted its current name following the completion of the merger.[8]
SAB is one of the five largest Saudi banks by deposits,[9] and has over eighty branches across Saudi Arabia and one branch in London, England.
^"About us - SABB Online Banking". Saudi British Bank.
^ ab"SAUDI BRITISH BANK Company Profile". Hoovers.
^"Moody's affirms ratings of SABB, Alawwal Bank". Saudi Gazette. Jeddah. October 13, 2018. Retrieved 2018-11-14.
^"Saudi British Bank (SABB)". relbanks.com. Retrieved 14 April 2012.
^Platt, Gordon (June 1, 2018). "Saudi Arabia: First Major Bank Merger In Nearly Twenty Years". Global Finance.
^"After Being Endorsed by Ceda: The 'Financial Sector Development Program' Holds a Forum to Introduce the Program and its Initiatives". SAMA. Riyadh. May 9, 2018.
^Muzoriwa, Kudakwashe (2023-04-05). "Saudi Arabia's SABB rebrands after $5bn merger with Alawwal". Retrieved 2023-06-04.
^"After historic merger, SABB is now SAB — Alawwal, will operate as Saudi Awwal Bank". Arab News. 5 April 2023.
^Saudi British Bank: Reinstating Coverage (PDF). www.riyadcapital.com (Report). Riyad Capital. September 16, 2015.
SaudiAwwalBank (SAB) (Arabic: البنك السعودي الأول) is a Riyadh-based Saudi joint stock company in which global banking group HSBC owns a minority stake...
In Saudi Arabia, a total of 37 banks are currently licensed by the Saudi Central Bank (SAMA): 11 local banks, 23 branches of foreign banks, and 3 digital...
Bank Middle East HSBC Saudi Arabia, joint venture between HSBC and SaudiAwwalBank HSBC Expat, an offshore banking services provider based in Jersey HSBC...
shareholder with 51% stake. Banks portal HSBC Bank Middle East SaudiAwwalBank List of companies of Saudi Arabia HSBC Saudi Arabia "The HSBC Group in the...
Dhabi Bank (FAB) name reflects the two banks’ roots in the region. The bank adopted the acronym F.A.B in its logo, which also features the “Awwal” (First)...
The Saudi Arabian Army, officially the Royal Saudi Land Forces (Arabic: القُوَّاتُ البَرِّيَّةُ المَلَكِيَّة السُّعُودِيَّة, romanized: Al-Quwwat al-Bariyah...
The Saudi Arabian National Guard (SANG) (Arabic: الحَرَس الوَطنيّ, romanized: al-Ḥaras al-Waṭanī), also known as the White Army, is one of the three major...
The Saudi Arabia national football team (Arabic: المنتخب السُّعُودِيّ لِكُرَّةُ الْقَدَم) represents Saudi Arabia in men's international football. They...
The Royal Saudi Navy (Arabic: البَحْريَّة الْمَلكيَّة السُّعُودِيَّة, romanized: Al-Quwwat al-Bahriyah al-Arabiyah as-Su'udiyah) or Royal Saudi Naval Forces...
professional multi-sports club based in Riyadh, Saudi Arabia. Their football team competes in the Saudi Pro League. Founded on 24 October 1955, Al Nassr...
joined this operation to al-Ushayra, Yanbu in either the month of Jumada al-awwal or Jumada al-Thani. They had 30 camels that they rode upon by turns. When...
The Saudi Arabian Royal Guard (Arabic: الحرس الملكي السعودي Al-Ḥars al-Malakī as-Suʿūdī) is a unit in the Saudi military forces. Originally an independent...
been born. It is commemorated in Rabi' al-Awwal, the third month in the Islamic calendar. 12th Rabi' al-awwal is the accepted date among most of the Sunni...
and the predecessor to the First Saudi State. Its capital was Al-Turaif District, and it was based around the banks of Wadi Hanifa. It was ruled by the...
a public verbal altercation with Abdullah of Saudi Arabia, then the Crown Prince. Gaddafi accused Saudi Arabia of having made an "alliance with the devil"...
Najd (Arabic: نَجْدٌ, pronounced [nad͡ʒd]) is the central region of Saudi Arabia, in which about a third of the country's modern population resides. It...
Al-Hussein (Arabic: عبد الله الأول بن الحسين, romanized: ʿAbd Allāh al-Awwal bin al-Ḥusayn, 2 February 1882 – 20 July 1951) was the ruler of Jordan from...
death of Ali al-Ridha (Safar 29 or 30), the birthday of Muhammad (Rabi-al-Awwal 17), the death of Fatimah (Jumada-al-Thani 3), the birthday of Ali (Rajab...
"many critical clauses" of the resolution. In July 2018, the Saudi-based Islamic Development Bank activated its $4.5 billion oil financing facility for Pakistan...
as Hirak (Arabic: ثورة 17 تشرين الأول, romanized: thawrat 17 tishrīn al-ʾawwal, lit. '17 October revolution') were a series of civil protests in Lebanon...
communication with various segments of society. On the 19th of Jumada al-awwal 1421 AH which corresponds to the 19th of August 2000, a royal decree numbered...
Patrol. Its main task was to guard Jordan's borders with neighboring Iraq, Saudi Arabia and Syria, as well as to provide protection for the petroleum pipelines...
(literally meaning "National" and "Day"). It is celebrated on 1st of Rabi' al-Awwal, the third month of Hijri (Islamic) calendar. In the mid-17th century, the...
which is two months and eight days. The famous procession of 8th Rabi-ul-Awwal also culminate at Kazimain and witness a very aggressive Seenazani and Zanjeer...
Global Information
$1.05 billion (2017)