Our new values are all about putting your needs first. That’s as important to our integration as it is to our future as a combined bank.

We want our customers to help shape our bank. As we prepare to offer one joined up service, we will be inviting customers to test our products to make sure they live up to expectations.

We’re already benefitting from having greater resource to innovate. Recently, we became the first bank to facilitate a blockchain trade in Saudi Arabia, helping corporates tap into new growth opportunities overseas.  We’ve also developed ‘Waafer’, a new concept in savings account, removing restrictions so everyone can build for the future. Our digital banking capability has also improved to be consistent for customers of both our existing banks.

Our values are the foundations of a more promising future for our customers, staff and the Kingdom we work hard to support. 

We’re really excited about the new energy and focus our values have brought to our organisation and the opportunities ahead of us.

Alawwal bank and SABB target full Integration in March 2021

We’re pleased to announce that the integration of our two banks into one is targeted to complete in March 2021 - on what we call the ‘Go Live’ date.

As the SABB network will support our single, fully integrated bank, all Alawwal bank customers must move onto this. While Alawwal bank Corporate customers are already migrating on a phased basis, Retail and Retail SME customers will all move to SABB together on the ‘Go Live’ date (exact date to be announced soon).  On the Go Live date, all Alawwal bank services will cease and switch to SABB.

We’ve created a Merger hub online to help Alawwal bank customers with the switch to their new bank. Customers can use the hub to create a personalized dashboard to see how the services they currently use will change and what they need to do to activate them.

As SABB customers are already on the SABB network, no action is required on their part in order to benefit from our new, improved banking proposition.

We’re excited about creating a better bank for all our customers and have been challenging ourselves to make every experience we offer the best. Our revamped SABB app has recently been awarded best banking app in the Kingdom and middle east, our revolutionary ‘Waafer’ savings account was also voted ‘best product’ by consumers. A brand new, enhanced rewards program is also on its way soon and work has now started to combine both bank’s ATMs into a bigger network for all customers.

We look forward to welcoming customers to an enhanced banking experience, offering a new world of financial opportunities for all.

A lot has been happening since we legally merged our banks back in June 2019. We’ve been taking a really close look at our businesses to bring the best of both into our final combined bank.

Our merger is the largest of its kind in the Kingdom’s history. Since June, we’ve completed over 3,000 tasks towards our full integration and co-located nearly 1,000 back office staff. There’s more to do but we are making good progress.

Our aim is to create the best bank in the Kingdom. To deliver on this promise, we have now introduced new values that will shape everything we do. All our staff are now being asked to play their part in creating our future bank in line with these values:

VALUES

 There’s still months to go to fully integrate our businesses but we’re excited to be getting closer to having all customers benefit from our very best service.

What happens next?

For now, nothing changes, and you should continue to enjoy your banking services as normal. Any changes to your current relationship or products with the bank will be communicated to you well in advance.

Click here to find answers to any questions you might have about the merged bank.

Customer Q&As

On Sunday 16 of 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.

We are excited about the future opportunities the merger will create for you, our valued customers.

Press release

We are pleased to announce that our proposed merger with Alawwal bank has received approval from the Capital Markets Authority (CMA). This completes all the necessary regulatory approvals required for the merger to go ahead, with the Saudi Arabian Monetary Authority (SAMA) and the General Authority for Competition (GAC) having already given their consent.

This important milestone means we can now invite our shareholders to an Extraordinary General Meeting (EGM) on 15th May 2019 to vote on their approval of the merger.

SAB Shareholders Circular issued by SAB to its Shareholders

Transaction Timetable

What happens next

We expect our businesses to combine into a single legal entity by mid-June 2019, subject to shareholder approval at the EGM. Then, following a creditor objection period, the two banks can combine into a single legal entity.

Legally joining our businesses is a stage of a complex and lengthy merger process, and more updates will be communicated as they happen. For now, though, nothing changes for customers and you should continue to enjoy your banking services as normal.

Dear Customer,

Today marks a major milestone in the history of the Saudi British Bank as we announce the entry into a merger agreement with Alawwal bank.

Our merger, which remains subject to shareholder and regulatory approval, will create an exciting new bank to support an ambitious Kingdom.

We will be Saudi Arabia’s third largest bank overall, with increased strength in retail and corporate banking and the additional scale needed to help seize and support more opportunity for customers.

We will be a leader of the Kingdom’s financial sector development, from capital markets and corporate finance, to personal savings, home ownership and wealth management.

And we will set new standards in training and career development and help ensure that we maintain our reputation as a company where talented people are able to build exciting and challenging careers.

These are exciting times for all of us at SABB as we work through a merger process that is expected to be completed during the first half of 2019 and on which shareholders will then vote.

There will be no change to SABB’s business operations during this period, ensuring that we continue to provide our customers with seamless service.

I will write to you again to advise you of the outcome of the shareholder vote and the broader approval process, though it is anticipated that all requirements for a successful merger will be met.

If you have any questions about the proposed merger in the interim, please visit our FAQs at www.SABB.com.

We believe there is a compelling strategic and financial rationale to a merger with Alawwal bank, combining complementary strengths to create a leading banking franchise in the Middle East.

As Vision 2030 transforms Saudi Arabia, our own transformation will ensure our corporate and retail customers – like you – capture the opportunities of a more diverse, accessible and investible Saudi economy.

I am sure that it is a merger that will benefit all of our customers today and in the future.

Yours sincerely
David Dew
Managing Director

Chairman Message

Managing Director Message

Building a new bank to support an ambitious kingdom presentation

FAQs

TADAWUL announcement