SABB and Alawwal bank legally completed their historic merger on 16 June 2019. This was a transformational event for the financial services sector and the first banking merger in Saudi Arabia for a generation. The two banks combine a long and successful history of business in the Kingdom.
Alawwal bank maintained a proud legacy of banking innovation for over 90 years. The bank has pioneered many positive 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, more recently, leading innovation in digital banking services in the Kingdom. Alawwal bank supports large institutional business, mid-sized corporates, SMEs and retail customers.
SABB traces its origins in Saudi Arabia back almost 70 years, during which time it has been an active partner supporting the Kingdom’s economic growth and social development. An associate of the HSBC Group, SABB is a leading corporate and institutional international bank in the Kingdom, with a leading retail banking and wealth management proposition. SABB is also a leading player in trade finance, foreign exchange, equity and debt wholesale banking and advisory.
SABB formally commenced activities on 1 July 1978 when it took over the operations of The British Bank of the Middle East in the Kingdom of Saudi Arabia.
The combined bank draws on the strengths of SABB and Alawwal bank to be:
- A focused and attractive retail banking proposition for Saudi nationals and expatriates
- A compelling and comprehensive proposition for small, medium and large companies, built on the foundation of being the most international bank in the Kingdom through its association with HSBC
- The leading bank for inbound and outbound multinational corporates and institutions, operating into or from Saudi Arabia
- A leading innovator of digital services
Award-Winning Personal Banking
Alawwal provides personal banking services designed to meet the unique needs of our customers, and our rapid growth in retail banking is a testament to our trusted expertise. Our accounts, credit cards and award-winning financing solutions are personalized to our General, Priority, Preferred and Private Banking customers, who all benefit from our outstanding Tedallal Rewards program.
With over 65 branches and more than 554 ATMs throughout the Kingdom, as well as state-of-the-art mobile and internet banking platforms, our people, products and services are always close at hand. Our Shariah-compliant home finance and personal finance products help make our customers’ dreams a reality, featuring streamlined processes and innovative financing models to deliver the fastest and easiest financing in the Kingdom.
Groundbreaking Business Banking
Alawwal has almost a century of success working with many of the Kingdom’s leading businesses and families. In order to best serve the distinct needs of SMEs, mid-sized corporates and the largest institutional businesses, our Corporate Banking Services Group has formed separate teams with the expertise and products to cater to each sector.
From strong treasury investment portfolio management and skillful proprietary trading to Shariah-compliant financing, securities and investment banking, we work hard to advise and support the growth of our clients’ businesses.
Responsible Corporate Citizenship
We care about the difference we can make to our employees, customers, shareholders and the wider community. We have developed ground-breaking educational programs for young Saudi nationals, fostering their skills and creative capabilities while opening doors to new opportunities through partnerships with like-minded companies and academic institutions.
We have also launched initiatives to boost the employment of Saudi nationals of all ages through financial training and education, while our commitment to SMEs extends beyond financial services to providing advice and technical assistance, which are vital to economic growth and job creation in the Kingdom.