On Sunday 16 June 2019, the legal merger of SAB and Alawwal bank was completed. On this day, the two banks became one legal entity. Led by a single leadership team, it is ready to execute its strategy to combine the best of the two organisations to create the best bank in the Kingdom.

Much of the operational work to integrate the banks still lies ahead. For now, the two banks will continue to provide a business as usual service for their respective customers.

Since the announcement of their intention to merge in October 2018, the following milestones have been achieved:

• Approval from regulators
• Approval from shareholders of both banks
• Creditor Objection Period has been satisfied
• Legal merger of the two banks on June 16^th 2019
• De-listing of Alawwal’s shares on the Tadawul

The merged bank is now being managed by a single board of directors and management team; processes and policies have been aligned; Alawwal bank’s shareholders have received SAB shares, and the Alawwal bank’s stock has been de-listed from the Tadawul.

For the time being, both the Alawwal bank and the SAB brands will be used. There is a project underway, using the services of a leading branding consultancy, to determine the best name and brand of the combined bank, and this will be announced in due course.

For customers very little will change. They will continue to bank in the same way as before, using the same products and services, the same branches and ATMs, and the dealing with the same people.

If you are uncertain about any aspect of your banking relationship with SAB or Alawwal, please contact us in the usual way – by telephone, in branch, via social media, or talk to your relationship manager.

Behind the scenes, the bank is working hard on the integration and it is estimated that will take another 18-24 months, at which point the merger process will have ended. Any changes to your current relationship or products with the bank will be communicated to you well in advance.

We have consistently stated that no involuntary staff redundancies are expected as a result of the merger. People are core to the success of our bank’s strategy. The merged bank offers exciting career opportunities in a much larger organisation.

SAB traces its origins in Saudi Arabia back almost 70 years, during which time it has been an active partner supporting the Kingdom’s economic growth and social development. An associate of the HSBC Group, SAB is a leading corporate and institutional international bank in the Kingdom, with a leading retail banking proposition. SAB also offers a leading wealth management service in the Kingdom, providing the full suite of retail banking services. SAB is also a leading player in trade finance, foreign exchange, equity and debt wholesale banking and advisory.

Alawwal bank has a proud 93-year legacy of banking innovation. The bank has pioneered many positive changes in the Kingdom’s financial services. These include assisting with the issuance of Saudi Arabia’s first currency, facilitating payment for the first oil export and, more recently, leading innovation in digital banking services in the Kingdom. Alawwal bank supports large institutional business, mid-sized corporates, SMEs and retail customers.

As Vision 2030 transforms the Kingdom, our own transformation will ensure our customers capture the opportunities of a more diverse, accessible and investible Saudi economy.

We will have access to a global banking network that is unrivalled in the Kingdom, helping to facilitate the flow of investment capital into Saudi Arabia and the growth of international trade, along with the growth of the Kingdom’s capital markets. We will provide entrepreneurs with the financial tools they need to grow and create jobs. We will also have the capacity to underwrite large-scale transactions including major transformational infrastructure and privatisation projects.

Several of the pillars of Vision 2030 are central to the strategy of the merged bank, including financial sector development, housing, digital focus, the development of SMEs and the empowerment of female participation in the workplace. From capital markets and corporate finance to personal savings and home ownership, the merged bank is set to be a strong partner of Saudi Arabia.

For now, nothing changes for our customers. Both banks will maintain their presence and will continue to offer a business-as-usual service until the two banks’ systems are united, which is expected in 18-24 months.

As part of the merger process, we will carry out a detailed and careful review to optimise products and services, with the best interests of customers in mind. Minimising disruption for our customers is a top priority. Any changes to your current relationship or products with the bank will be communicated well in advance.

For now, nothing changes for our customers. The two banks will offer a normal service until the merger is completed.

As part of the merger process, we will carry out a detailed and careful review to optimise products and services, with the best interests of customers in mind. Minimising disruption for our customers is a top priority. Any changes to your current relationship or products with the bank will be communicated well in advance.

For now, nothing changes for our customers. The two banks will offer a normal service until the merger is completed.

Minimising disruption for our customers is a top priority. Any changes to your current relationship or products with the bank will be communicated well in advance.

For now, nothing changes for our customers. Customers should continue to communicate with their existing relationship manager. The two banks will offer a normal service until the merger is completed. Both banks will operate independently and continue to offer a business as usual service until the merger is completed.

Minimising disruption for our customers is a top priority. Any changes to your current relationship or products with the bank will be communicated well in advance.

For now, nothing changes, and you can continue to use the same IBAN and SWIFT codes.

Minimising disruption for our customers is a top priority. Any changes to your current relationship or products with the bank will be communicated well in advance.

For now, nothing changes, and any arrangements you have in place will be unaltered.

Minimising disruption for our customers is a top priority. Any changes to your current relationship or products with the bank will be communicated well in advance.

As part of the merger process, we will carry out a detailed and careful review to optimise products and services, with the best interests of customers in mind. Minimising disruption for our customers is a top priority. Any changes to your current relationship or products with the bank will be communicated well in advance.

For now, nothing changes and you can use your account as normal. Both banks will operate independently and continue to offer a business as usual service until the merger is completed.

Minimising disruption for our customers is a top priority. Any changes to your current relationship or products with the bank will be communicated well in advance.

No, there will be no changes to opening hours as a result of the merger.

For now, nothing changes to your relationship with Alawwal Invest. Alawwal Invest is a subsidiary of Alawwal bank which will continue to offer a business as usual service

As part of the merger process, we will carry out a detailed and careful review to optimise products and services, with the best interests of customers in mind. Minimising disruption for our customers is a top priority. Any changes to your current relationship or products with the bank will be communicated well in advance.

Digital, mobile and online banking is increasingly the way that customers want to bank, and the merged bank is committed to building on its current offerings to develop a best-in-class range of digital banking.

For now, however, you will see no impact at all. You will continue to log in and bank online/via mobile as you do today. The two banks will offer a normal service until the merger is completed.

Minimising disruption for our customers is a top priority. Any changes to your current relationship or products with the bank will be communicated well in advance.

As part of the merger process, we will carry out a detailed and careful review to optimise products and services, with the best interests of customers in mind. Minimising disruption for our customers is a top priority. Any changes to your current relationship or products with the bank will be communicated well in advance.

We’re merging to create the best place to bank in the Kingdom. As part of the merger process, we will carry out a detailed and careful review to optimise products and services, with the best interests of customers in mind. Minimising disruption for our customers is a top priority.

For now, nothing changes. Both banks will operate independently and continue to offer a business as usual service until they are legally merged. The Toll Free Numbers for both banks are:
SABB: (+966) 800 124 8888
Alawwal bank: From a landline: 800 124 3000
From a mobile or abroad: +966 9200 13323 or +96611 2548338

You should have been contacted by SAB or Alawwal bank already, and for now, nothing changes. Please contact your usual point of contact with the bank if you need to discuss any specific issues connected to your business with us.

We are committed to ensuring our female customers enjoy equal access to our branch services. At present, we offer both female only and mixed branches, and this will continue.

The merged bank aims to be one of the most efficient and well-managed banks in Saudi Arabia. To achieve this, we are conducting a thorough analysis of our branches with a view to delivering that efficiency, while also serving people and communities across the Kingdom with an extensive branch network.