However, we will issue an update report on SABB
after discussing the results with the bank's management.
, an associated company of HSBC Group (LSE: HSBA) (NYSE: HBC) (HKG: 0005), provides a wide range of banking solutions for individuals and businesses in Saudi Arabia.
Adrian Flowers, CEO, SABB
Takaful said, "We are delighted by the selection of SABB
Takaful for this prestigious award.
Under this agreement, SABB
customers will be able to pay directly, conveniently, and securely with funds from their SABB
account for goods and services directly at millions of merchants around the world.
Mr Najm has returned to SABB
after serving a four-year secondment with HSBC Group, during which he held the position of the Head of International Bank Middle East for 11 Middle East countries.
would own 51 per cent of the new entity, to be known as HSBC Saudi Arabia, but HSBC would retain full management control, HSBC said in a statement posted on the Hong Kong stock exchange.
DUBAI/HONG KONG: HSBC Holdings PLC, Europe's biggest bank, will merge its Saudi Arabian wholesale and investment banking business with Saudi British Bank's SABB
Securities, it said Monday.
, 40 percent owned by HSBC Holdings Plc , made profit of SR 26 million in the fourth quarter of the previous year, it said in a stock exchange statement.
25 per cent on the 3rd quarter of 2010, during which SABB
posted a net profit of 419 million Saudi
The second quarter results for SABB
, Arab National Bank(ANB), and Saudi Investment Bank (SAIB) on Monday reflect a challenging period for the region's banks as they struggle to cover loan losses in a flat market still reeling from the global financial crisis.
Summary: Etihad Etisalat (Mobily) announced that it secured a SAR 900 million ($240 million) from SABB
John Sfakianakis (former Chief Economist at SABB
Bank) as its chief economist.