SABB enters 2021 as ‘one combined entity’, says chairperson

Saudi British Bank (SABB) began 2021 as ‘one combined entity’, after it completed the consolidation of Alawwal Bank’s corporate, institutional as well as the treasury business divisions during 2020, the bank’s chairperson Lubna Olayan said in a statement.  

SABB will soon consolidate the clientele of both retail as well as wealth management units, so that the newly-combined bank will have a unified branch network, online merger hub and an integrated IT system, she noted. 

SABB developed a new vision of “introducing financial solutions to a promising Kingdom”, in line with Vision 2030, and SABB’s strategy roadmap 2025.

“Despite a state of uncertainty over the coming period, world countries will likely recover over the next year,” Olayan said.

Last year was exceptionally challenging, but SABB looks to maintain same levels of commitment and sustainability, she noted.

SABB reported 2% earnings growth year-on-year (YoY) to SAR 652.3 million in Q4 2020, Argaam reported.