About Saudi Awwal Bank

Saudi Awwal Bank (SABB), together with its subsidiaries, provides a comprehensive range of banking services to retail, corporate and institutional customers throughout the Kingdom. SABB has strategic partnership with HSBC Group, one of the world's largest and most geographically diverse financial services corporations. HSBC Group retains a 31% stake in SABB. The company's SABB Strategy 2025 targets focused on growing market share and achieving a set of financial targets to solidify its market position and create sustainable value for its shareholders and stakeholders. In its retail business, the company launched new digital journeys for mortgages, personal finance and credit card applications, on both mobile and digital channels, and by implementing digital signatures it streamlined the process, enabling existing customers to apply for these products, without the need for a branch visit. For new-to-bank customers, the company launched digital account opening which has proven very successful with approximately 93% of new customers coming through this channel during the year. Other digital services included SABB360, which provides customers with a bespoke dashboard that provides expense reports, spending categorisation and comparisons, and budgeting tools. The company offers Global View Global Transfer (GVGT), a new tool aimed at its more internationally-minded retail customers, which allows them to link their SABB retail accounts with any HSBC global account. In its Corporate and Institutional Banking, the company launched a digital account opening platform utilising digital signatures, and a wide cross section of digital journeys including KYC ('know-your-customer'), credit requests and ongoing customer servicing. Partnering with Saudi Payments and Visa, the company developed a procurement card for its customers, to enable them to manage payments and monitor spending digitally. The company has developed a range of tools with the customer at the heart of the solution. A key area of investment for 2022 and which continues into 2023 is the company's MSME provision which is led through digital. The company launched an app called 'SABBcorp Mobile' specifically for the MSME sector and integrated its customer relationship management software with Monsha'at, the General Authority for Small and Mediumsized Enterprises, which also covers the Kafalah programme. The company's trade business was the first in the Kingdom to launch a block-chain based letter of credit transaction using 'Contour', and it also launched a digital guarantees solution called 'bwatech' which completely digitises all the stages of issuing and fulfilling guarantees. Within its Treasury business, the company developed and launched a digital FX proposition that automates foreign exchange business flows and provides connectivity to a host of SABB digital channels. SABB also participated in the launch of 'BUNA', a centralised multi-currency platform that enables corporates to send and receive cross-border payments in MENA-based currencies. As a leading Bank in the Kingdom, SABB is committed to supporting Micro, Small and Medium-sized Enterprises (MSMEs). SABB is proud to support the company's MSME customers, increasingly through its digital offerings but also through SME Centres, including Riyadh, Jeddah, Alkhobar, Dammam and Al Qassim. SABB offers a range of products and services to meet the needs of MSMEs, including Shariah-compliant products. Customers receive a dedicated Relationship Manager (RM) to assess their banking needs and provide solutions to meet their requirements. SABB continues supporting the Kafalah Programme, which facilitates lending to the smaller emerging companies in the Kingdom. SABB continues to collaborate with Monsha'at in support of a number of their initiatives including agreement to help develop the new financing gateway, that enables MSME customers to gain access to financing opportunities. In addition to Kafalah and Monsha'at, SABB supports MSMEs through its participation with both the Real Estate Development Fund (REDF), Tourism Development Fund (TDF) and the National Technology Development Programme (NTDP). SAMA continued the programme to support MSME customers potentially facing difficulties arising from the COVID-19 pandemic. Segments The company operates through Wealth & Personal Banking, Corporate and Institutional Banking, Treasury, Capital Markets, and Others segments. Wealth & Personal Banking - caters mainly to the banking requirements of personal and private banking customers. Corporate and Institutional Banking - caters mainly to the banking requirements of corporate and institutional banking customers. Treasury - manages the Group's liquidity, currency, and special commission rate risks. It is also responsible for funding the company's operations and managing the Group's investment portfolio and liquidity position. Capital Markets - Includes activities of the company's investment in its subsidiary for investment banking and brokerage, Alawwal Invest. Others - Includes activities of the company's investment in its associate, HSBC Saudi Arabia and equity investments. It also includes elimination of inter-group income and expense items. Regulations The company regularly conducts internal reviews to assess compliance with all regulatory requirements issued by the Capital Market Authority ('CMA') and the Saudi Central Bank ('SAMA'), as well as local and international best practice. History The company was founded in 1978. The company was formerly known as Saudi British Bank and changed its name to Saudi Awwal Bank in 2023.