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Saturday, November 8, 2008

Best Asset Management Company (Global Finance) : Saudi Joint Stock Company

SABB is a Saudi Joint Stock Company with a strong track record and a heritage that stretches back almost 30 years.

Established on 12 Safar 1398(H) (21 January 1978), SABB formally commenced activities on 26 Rajab 1398(H) (01 July 1978) when it took over the operations of The British Bank of the Middle East in the Kingdom of Saudi Arabia.
SABB is an Associated Company of the HSBC Group, one of the world’s largest banking and financial services organisations with over 10,000 offices in 83 countries and territories across Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. This association means that SABB customers not only have access to our own market-leading services and customer care, but can also tap into the HSBC Group’s global network, resources, skills, specialist knowledge and expertise

SAR 98.2 billion (US$26.2 billion) at 31 December 2007.
SAR 77.2 billion (US$20.6 billion) at 31 December 2006.

SAR 2,607 million (US$695 million) at 31 December 2007.
SAR 3,040 million (US$811 million) at 31 December 2006.

Capital Strength:
SABB paid up capital is SAR 6,000 million with share capital ownership split as follows:60% Saudi Nationals and 40% HSBC Holdings BV (a wholly owned subsidiary of HSBC Holdings plc)

SABB operates through a network of 75 branches, including 12 exclusive Ladies’ branches, with a team of 2865 employees of whom 85.5% are Saudi nationals as at 30 September 2007.

Products and Services
Enhanced levels of service for all our customers – that’s what we at SABB consistently strive for. Our range of banking services includes Personal, Commercial, Corporate, Private and Islamic Banking; Investment, Treasury and Trade Services, and Credit and ATM Cards that are welcomed in more than 18 million commercial outlets within the Kingdom and around the world. In addition SABB ATM and credit cards can access more than 350,000 ATMs in the Kingdom and around the world. Our Electronic, Internet and Telephone Banking facilities allow customers to conduct banking business from the comfort of their own homes or offices and our information delivery channels now include mobile telephone technology and Short Message Services (SMS).

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