The last time SABB completed such an issue was in December 2013, when it raised 1.5 billion riyals through an offering which had a seven year lifespan but which could be redeemed by the bank at the end of the fifth year.
DUBAI May 28 Saudi British Bank (SABB) has completed a private placement of 10-year, 1.5 billion riyal ($400 million) subordinated Tier 2 sukuk callable in five years, it said in a bourse statement on Thursday.
JEDDAH - The Saudi British Bank (SABB) launched a new service whereby American Express card holders can make cash withdrawals from SABB's ATMs. The new service offers a great degree of convenience, and comes as a product of joint efforts ...
DUBAI, Aug 26 (Reuters) - Saudi British Bank (SABB), an affiliate of HSBC Holdings, is aiming to sell an Islamic bond by year-end to strengthen its capital base, two banking sources aware of the matter said on Monday.
SABB is the latest Saudi bank to boost its capital through the sale of debt instruments; while the kingdom's lenders are well capitalised compared to their Western peers, a sustained period of high loan growth has put downward pressure on their capital ...
Around half-way through last year, Saudi Arabia's net foreign assets broke through the half-a-trillion-dollar barrier. They now stand at around $536bn, having risen 22 percent during the course of 2011.
The board of Saudi British Bank, an affiliate of HSBC Holdings, has recommended boosting the bank's capital by 50 per cent to SAR15 billion ($4 billion) through an issue of bonus shares, it said on Wednesday.
Saudi British Bank, the Kingdom's fifth-largest listed lender by assets, posted a 25.2 per cent rise in third-quarter net profit on Thursday, in line with analysts' forecasts as operating income increased.
Standard & Poor's raised the outlook on SABB's A rating to positive from stable in June on the back of a similar move for Saudi Arabia's country rating, citing the high level of likely sovereign support for the lender should it get into difficulty.