SABB celebrates 40th anniversary
SABB is celebrating its 40th anniversary since its launch in Saudi Arabia in 1977 as a Saudi joint stock company in partnership with the HSBC Group.
To mark the occasion, SABB will hold a special event on Wednesday, which will be attended by a number of dignitaries and banking figures in the Kingdom.
A presentation will be delivered summarizing the evolution of SABB during its progress and the changes it has made.
The bank started with a capital of SR100 million ($26.7 million), which gradually grew to reach SR15 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 the Kingdom by providing an integrated system of products and services to individual and corporate customers through its departments, sectors and branches.
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.
The bank offers one of the best working environments in the Kingdom, as it takes special care to attract Saudi personnel, train the Saudi banking competencies, apply labor nationalization and transfer banking technology to the local market.
This is apart from the role played in supporting the national economy through its contributions in financing a large number of infrastructure projects established in Saudi Arabia during the past years.
Since its launch, SABB has played an important role in the Saudi banking sector. 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 the Kingdom.
SABB started its banking journey in Saudi Arabia with the opening of its first branch on 60th Street in Riyadh in 1978. During the same year it opened two other 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.