Saudi Awwal Bank (SAB) history, company profile (overview) and history video
Saudi Awwal Bank (SAB) is a banking and financial company headquartered in Riyadh, Saudi Arabia. It offers financial and banking services, including corporate banking, investment, private banking, and treasury.
SAB is one of the leading corporate and institutional international banks in the Kingdom of Saudi Arabia, one of the leading companies in the retail banking and wealth management sector, and one of the leading players in trade finance, foreign exchange, equity and debt wholesale banking, and advisory. SAB is also an international partner of the HSBC Group, one of the world’s largest banking and financial services organizations, giving it global connectivity.
HISTORY
SAB’s origins date back to 1978, when the Saudi British Bank (SABB) was founded to manage HSBC branches and assets in the country.
In 2021, SABB completed the merger with Alawwal Bank. After the merger, SABB rebranded as Saudi Awwal Bank (SAB).
Alawwal Bank (formerly Saudi Hollandi Bank) was founded in 1926 as a branch of the Netherlands Trading Society and was the first operating bank in the Kingdom of Saudi Arabia.
The bank has pioneered many changes in the Kingdom’s financial services. These include assisting with the issuance of Saudi Arabia’s first currency, facilitating payment for the first oil export and innovation in digital banking services in the Kingdom. Alawwal Bank supports large institutional businesses, mid-sized corporates, SMEs, and retail customers.
With more than 5,000 employees, the Saudi British Bank (SAB) is considered one of the Largest Public Companies in the World, according to Forbes.
*Information from Forbes.com, Wikipedia.org, and www.sab.com/en.
**Video published on YouTube by “Companies History“.
