Saudi British Bank (SABB)
Sector: Banks & Financial Services
Date of Establishment: 1978
CEO and Managing Director: Tony Cripps
Market Value: $16.8 billion
SABB was formed as a subsidiary of HSBC in Saudi Arabia. HSBC is still a major shareholder in the bank. The bank has around 80 branches in Saudi Arabia and one branch in London. The bank provides services in investment banking, commercial banking, private banking, and Islamic banking. In 2019, SABB completed its merger with Alawwal Bank, creating Saudi’s fourth-largest bank in terms of assets. Tony Cripps became Managing Director and CEO in May 2021.