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Al Marsad Journal – SPA: Saudi British Bank today announced that the merger between SABB and Alawwal banks has been completed, in which all products and services have been merged for all customers, and this integration combines the strengths of both banks as part of a developed bank offer, commensurate with the growth ambitions of a renewed kingdom.
SABB Bank Chairman Lubna Al-Olayan explained that the merger made it possible to review all aspects of the activities of the two banks to discover the best advantages and invest the opportunities to make a more competitive offer, indicating that “SABB” offers many offers in the field of business banking to support growth in all aspects of the economy and will allow private banking access to a larger network of branches across the Kingdom.
She stressed that the bank will work to strengthen its partnership with the HSBC Group to provide access to an international banking network, while introducing new standards in digital services in the Kingdom.
The merger enabled the 300-member project team to accomplish thousands of tasks, including the migration of 4,500 companies and 500,000 individual clients from Alawwal Bank to the new merging bank.
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