Saudi Awwal Bank (formerly Saudi British Bank) Overview
Pro stress-test →Saudi Awwal Bank provides integrated banking products and services to both retail and corporate sectors in Saudi Arabia, including Personal, Commercial, Corporate, Private, and Islamic Banking, Investment, Treasury and Trade Services, and Credit and ATM Cards. The bank is one of the five largest Saudi banks by deposits, with over eighty branches across Saudi Arabia and one branch in London, England.
Strategic Profile
Pro stress-test →The company is a Riyadh-based Saudi joint stock company in which HSBC owns a minority stake, tracing its origins to the British Bank of the Middle East acquired by HSBC in 1959. In 2018, the bank announced its intention to acquire Alawwal Bank, and on June 16, 2019, the official legal merger was completed, creating one of Saudi Arabia's largest banking institutions.
Competitive Landscape
Pro stress-test →Saudi Awwal Bank operates in the highly consolidated Saudi banking sector alongside major competitors including Saudi National Bank, Al-Rajhi Bank, Saudi Arabia's Public Investment Fund-backed institutions, and other top-5 regional banks. The merger with Alawwal Bank in 2019 strengthened its competitive position, while HSBC's minority stake provides international banking expertise and capital support.
Industry Context
Saudi Awwal Bank (formerly Saudi British Bank) operates in Commercial Banking & Financial Services.
Key facts
Founded: 1978 · Headquarters: Riyadh, Saudi Arabia · Employees: 4,470 · Market cap: $70.89B SAR (~$19B USD)