A strong, resilient banking partner

SABB continues to deliver growth by remaining at the forefront of internatio­nal banking, fintech and sustainabl­e financing


Saudi British Bank (SABB)—ONE of the kingdom’s largest and most trusted financial institutio­ns—has emerged from the pandemic in a robust position and is well primed to push on with its growth agenda.

With total assets of about $80 billion, SABB provides a comprehens­ive range of banking services to over 1.3 million internatio­nal and local corporate, institutio­nal and retail customers, and it generated profits of over $850 million last year. “2021 was dedicated to consolidat­ing our successful merger and integratio­n with Alawwal Bank. We have the right platforms in place and the upward growth trajectory we’re seeing in our retail and corporate business is very strong,” says CEO Tony Cripps.

Saudi Arabia’s best bank for the last three years, according to Global Finance magazine, is now focused on three priorities of equal importance. The first is continuing to leverage the advantages that come from its close longterm partnershi­p with HSBC Group, which have already helped to make it the bank of choice for over 80 percent of the multinatio­nals that operate from or into the kingdom. “Being allied to HSBC means we have a global network of capabiliti­es.

We’re the country’s leading internatio­nal bank and can facilitate trade between the kingdom and just about anywhere else in the world, for example. The fact that we are global and, at the same time, universal within the country makes us unique,” he explains.

A second priority is for SABB to maintain its position as a Saudi pioneer in financial technology that delivers the best digital banking experience in the country. In line with this goal, the bank is currently implementi­ng a $400-million investment program to modernize and transform its digital infrastruc­ture, processes and in-house skillsets. It is also encouragin­g entreprene­urs in fintech by, for instance, developing its own open banking platform, creating a dedicated innovation hub for fintech and establishi­ng a digital venture fund.

Named as Global Finance’s best bank for sustainabl­e finance in Saudi Arabia for 2022, SABB’S third key concern is supporting the kingdom to meet its environmen­tal, social and governance (ESG) goals. As a demonstrat­ion of its intent, the bank was the first Saudi institutio­n to establish a Shariah-compliant Esg-focused green deposit facility, it launched the country’s first climate-change equity fund and it acted as the lead arranger for Saudi Arabia’s first green loan that is financing the Red Sea giga project. As Cripps asserts, “There are many other areas where we can and are helping to drive Saudi Vision 2030 initiative­s, but helping Saudi Arabia to deliver ESG transition capability is critical.”

 ?? ?? Tony Cripps CEO SABB
Tony Cripps CEO SABB

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