Tuesday, April 13

Saudi British Bank Announces Completion of SABB, Alawwal Bank Merger

Riyadh, Saudi British Bank announced today the completion of the merger between SABB and Alawwal banks, in which all products and services have been merged for all customers. This integration combines the strengths of the two banks under an advanced banking entity.
The Chairperson of SABB’s Board of Directors, Lubna Al-Olayan, said that the merger process witnessed reviewing the two banks’ business to find out the best advantages and investing opportunities in order to make a more competitive offer.
She affirmed that the bank will work to strengthen its partnership with the HSBC Group to provide access to an international banking network, along with introducing new standards in digital services in the Kingdom of Saudi Arabia.
The merger process team, which included 300 members, completed thousands of tasks, including the data migration of 4,500 corporate and 500,000 individual customers from Alawwal Bank to the newly merged bank.


Source: Saudi Press Agency

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