SABB Celebrates its 40th Anniversary

May 2017

SABB celebrates its 40th anniversary since its launch in Saudi Arabia in 1977 as a Saudi joint stock company in partnership with HSBC Group. The Bank started with a capital of SAR100 million, which gradually grew to reach SAR15 billion in 2015.

Since the launch of its banking activity in the Saudi market, SABB focused on establishing a strong position within the list of banks operating in KSA by providing an integrated system of products and services to individual and corporate customers through its departments, sectors and branches throughout the Kingdom and based on the long-standing experience of its foreign partner and its extensive international presence, which allows the Bank to offer a unique experience and quality services to its customers.

Over four decades, SABB has witnessed a series of changes, development and transformation milestones. It has managed to built a solid record of achievements and made a qualitative shift in the methodology and tools of the Saudi banking industry and thus became one of the most attractive banks to customers, and one of the best working environments in the Kingdom, as the Bank has taken special care to attract Saudi cadres, train the Saudi banking competencies, apply labour nationalization, and transfer banking technology to the local market, apart from the role played in supporting the national economy through its participation and contributions in financing a large number of infrastructure projects established by KSA during the past years.

On this occasion, the Bank will hold a special event in the presence of a number of dignitaries, and banking figures in the Kingdom, on Wednesday 17 May 2017, where a presentation will be delivered summarizing the evolution of SABB during its progress and the changes it has made.

Since its launch 40 years ago, SABB has played an important and pivotal role in the Saudi banking business map. It has managed to achieve a steady growth in its performance, and has strengthened its presence in the local market by providing high quality services and comprehensive products, thereby making SABB a leading provider of banking, financial and investment services in KSA.

SABB has a strong record of achievements whether in terms of its banking activity or its pioneering community-based activities, which makes it an excellent and reliable banking option for a wide range of individual and corporate customers due to its advanced professional practices that have contributed to the development of Saudi banking.

SABB started its banking journey in KSA with the opening of its first branch on 60th Street in Riyadh in 1978. During the same year it opened another two branches in Jeddah and Dammam. Two years later, it established the first branch for women. By the end of 2016, 106 branches have been opened throughout the Kingdom.

Since its establishment, the bank has been led by a number of elite Saudi banking and economic leaders who have had a strong reputation in supporting the Bank's progress and enhancing its contribution to encourage the performance of the Saudi banking sector and building a reputation in the regional and international markets.