Important news about Alawwal bank’s merger with SABB

We are excited to announce Alawwal bank’s Board of Directors have agreed to recommend a merger with SABB. This is a very important decision and one we are confident is in the best interests of the bank, our shareholders and most importantly - our customers.

We’re creating a bank that’s in tune with the transformation happening in the Kingdom. We will become a larger, more powerful banking franchise that will create more opportunities for customers and help drive growth in the Kingdom.  

As the Kingdom’s very first bank, we have proudly supported generations of loyal customers. We can look back on a history of innovation that has brought many positive changes - from issuing Saudi Arabia’s first currency, to facilitating payment of the first oil export and leading the banking industry’s digital transformation.

The merger creates a fantastic opportunity to build upon our legacy of innovation. Pooling the talent and resources of two of the Kingdom’s most experienced banks will empower us to bring about even greater change.

The merger will create an exciting bank for the future, with lots for customers to look forward to.

 We want to create the best place to bank in the Kingdom – and we want you to be part of it.

What happens next

For now, nothing changes and you should continue to enjoy your banking services as normal.

Shareholders of each bank will vote on the decision to merge in the coming months. We will continue to operate as independent bank until the merger is completed, which is expected to be in the first half of 2019.

Please note that any changes to your current relationship or products with the bank will be communicated to you well in advance.

A comprehensive set of Q&As have been prepared for our customers

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Alawwal Bank