COMPANIES
SABB
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COMPANY DESCRIPTION
The Saudi affiliate of British banking giant HSBC, SABB is a joint stock company with a track record stretching back over three decades. The bank has built on Saudi’s reputation as one of the strongest banking sectors in the region, posting a net profit of $779m for the year end, up $84m, or 12 percent, on the previous year’s figures.The Saudi lender has started the year in style, despite forecasting a modest 0.7 percent growth in 2009, down from 4.2 percent in 2008. In February, SABB confirmed plans for a 1:4 bonus share issue, which would raise its capital to $2bn.
Last month saw SABB snatch the title of ‘Best Trade Finance Bank in Saudi Arabia 2009’, following a year where the bank’s trade finance volumes grew 72 percent, and it introduced a new portfolio of Islamic export financing products.
The Saudi lender has also had a change in top-level staff; its chief executive John Coverdale stepped down last month, after more than three years at the helm. He was replaced by former COO Richard Groves.
KEY INFORMATION
Industry
Commercial Banks
Address
SABB Building, Mosaad Bin Jalawi Street, 9084, Riyadh, Saudi Arabia
T
966 1 4050677
F
966 1 4050660
E
W
COMPANY OVERVIEW
| Ownership | Type | Established on | Employees |
|---|---|---|---|
| Public | Joint stock | 21 January 1978 | - |
MAJOR SHAREHOLDERS
| Name | Country | ||
|---|---|---|---|
| HSBC Holdings | companies | 39.9 | UK |
| Public Pension Agency | companies | 9.5 | Saudi Arabia |
| Olayan Saudi Investment Company | companies | 17 | Saudi Arabia |
| General Organization for Social Insurance - Saudi Arabia | companies | 9.5 | Saudi Arabia |
PORTFOLIO
| Name | Country |
|---|---|
| HSBC - Saudi Arabia | Saudi Arabia |
| SABB Securities | Saudi Arabia |
| SABB Takaful Company | Saudi Arabia |
OFFICERS
| BOARD OF DIRECTORS | Position |
|---|---|
| Khalid Abdullah Al Molhem | Board Member |
| Fouad Abdulwahab Bahrawi | Board Member |
| Suleiman Abdulkader Al Muhaidib | Board Member |
| Ahmed Sulaiman Banaja | Board Member |
| John Edward Coverdale | Board Member |
| Richard Groves | Board Member |
| Mukhtar Malik Hussein | Board Member |
| Youssef Asaad Nasr | Board Member |
| Khaled Suleiman Olayan | Chairman |
| Mohammed Bin Omran Al Omran | Board Member |
| MANAGEMENT | Position |
| Richard Groves | Managing Director |
| Adel Al Marzook Al Nasser | Deputy Managing Director |
| Saeed Al Khuraimi | General Manager |
| Rowan Douglas Jones | Chief Operating Officer |
| Mansour Tarmazi | Chief Financial Officer |
| John Sfakianakis | General Manager and Chief Economist |
| Nabil Al Hoshan | General Manager - Personal Financial Services |
| Mohammed Bin Abdullah Al Yahya | General Manager - Credit Risk |
| Hlyel Al Hlyel | General Manager - Operations and Processing |
| Hamed Al Omar | General Manager - Internal Audit |
| Mansour Abdulaziz Al Bosaily | General Manager - Legal Affairs |
| Satish Jayanardhanan | General Manager - Information Technology |
| Tarek Abdulrahman Al Shubaily | General Manager - Human Resources |
| SHARIA BOARD | Position |
| Abdullah Bin Suleiman Al Manea | Chairman |
| Abdullah Bin Mohamed Al Mutlaq | Member |
| Mohammed Ali El Gari Bin Eid | Member |
MOST POPULAR NEWS STORIES
LATEST FINANCIAL JOBS
- Business Analyst, Abu Dhabi, UAE
- Asst to General Manager, Abu Dhabi, UAE
- Office Manager / Secretary, Abu Dhabi, UAE
- Personal Assistant, Qatar, Qatar
- Client Manager, Abu Dhabi, UAE
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