Alawwal Bank History and Merger with Saudi Banks

Alawwal Bank has a rich history that dates back to 1979, when it was established as a Saudi joint stock company.

The bank was initially known as the Saudi American Bank, with its headquarters in Riyadh.

Alawwal Bank's early years were marked by a focus on providing financial services to the Saudi market.

In 2009, the bank was rebranded as Alawwal Bank, a name that reflects its commitment to innovation and customer service.

The bank's merger with Saudi Hollandi Bank in 2017 was a significant milestone in its history, creating one of the largest banks in Saudi Arabia.

This merger brought together two established players in the Saudi banking market, resulting in a stronger and more diversified bank.

Alawwal Bank is a Saudi Arabian bank that was established in 1979. It is one of the largest banks in the country.

Alawwal Bank has a strong presence in the Saudi market, with a network of over 150 branches across the country. Its headquarters is located in Riyadh, the capital city of Saudi Arabia.

The bank offers a wide range of financial services, including personal banking, corporate banking, and investment banking. It also provides Shariah-compliant products and services to its customers.

Alawwal Bank has a significant market share in the Saudi banking sector, with a customer base of over 1.5 million individuals and businesses.

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Alawwal Bank offers a range of services to cater to different needs, including investment banking and commercial banking.

One of the notable services is Islamic banking, which is regulated by the Saudi Arabian Monetary Agency and a Sharia Supervisory Committee to ensure strict adherence to Sharia principles.

Investment banking and commercial banking services are also part of Alawwal Bank's offerings, providing customers with a comprehensive range of financial solutions.

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Alawwal Bank has been through a significant merger with Saudi British Bank (SABB) in 2019, creating Saudi Arabia's third-largest bank. The integration was completed in June 2019 after an 18-month process.

The merger was first proposed in October 2018, with the two banks agreeing to a $5 billion deal. The merger was a major step towards creating a stronger banking presence in Saudi Arabia.

Alawwal Bank's financial performance was also impacted by government actions, with deposits shrinking as the government pulled back funds in July 2018.

Alawwal Bank has been making headlines lately, with a major merger announcement in 2018. The bank merged with Saudi British Bank (SABB) to create Saudi's third-largest bank.

In 2018, Alawwal Bank's deposits shrunk as the government pulled back funds. This was a significant development in the Saudi banking sector.

A $5 billion acquisition deal was secured by Saudi British Bank for Alawwal Bank in 2018. This deal marked a significant milestone in the bank's history.

The merger between Alawwal Bank and SABB helped Royal Bank of Scotland (RBS) to shed assets and boost its capital. This was a win-win situation for both parties involved.

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Here's a brief summary of the merger:

Advanced Petrochemical Company obtained Sharia-compliant financing valued at SAR 2.20 billion from Alawwal Bank in 2023. The facility deal has a five-year duration period and is secured by promissory notes.

The merger between Alawwal Bank and Saudi British Bank (SABB) has been a significant development in the Saudi banking sector. The two banks announced their merger in May 2018, with SABB acquiring Alawwal in a deal worth $5 billion.

The merger was completed on June 16, 2019, and the integration process took about 18 months to complete. The merged bank retained the brand name "Saudi British Bank".

The merger created Saudi Arabia's third-largest bank, with a market capitalization of $17.2 billion. SABB shareholders owned 73% of the new bank, which was chaired by Saudi businesswoman Lubna Al Olayan.

Here are some key facts about the merger:

The merger was a significant step towards creating a more robust and competitive banking sector in Saudi Arabia.

Alawwal Bank is a Saudi Arabian bank that was established in 1978 and is headquartered in Riyadh.

The bank's main shareholders include the Public Investment Fund of Saudi Arabia, which holds a significant stake.

Alawwal Bank has a strong presence in the Saudi banking market, with a network of branches and ATMs across the country.

In 2016, Saudi Hollandi Bank changed its name to Alawwal Bank.

Alawwal Bank's new name reflects its status as the first bank to launch in the country in 1926, with "Alawwal" meaning "The First" in Arabic.

The name change was part of a new corporate identity that was rolled out over the next three months.

This change marked a significant milestone for the bank, one that was over 90 years in the making.

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In 2019, Alawwal Bank and Saudi British Bank (SABB) merged to create Saudi Arabia's third largest bank.

The merger was completed on June 16, 2019, after a non-binding agreement was reached on May 16, 2018.

SABB shareholders owned 73% of the new bank, which was chaired by Saudi businesswoman Lubna Al Olayan.

The integration of the two banks took about 18 months to complete, and the brand name "Saudi British Bank" was retained.

Here's a summary of the key players involved in the merger:

The merger was a significant step in the Financial Sector Development Program, which aimed to overhaul the Saudi financial sector and support the goals of the Vision 2030 economic reform plans.

By March 2021, the integration was complete, and Alawwal Bank had ceased to exist as a legal entity.

SAB's credit rating has been consistently strong. In August 2011, Fitch Ratings gave SAB's long-term issuer default rating (IDR) an "A" with a stable outlook, and its Viability Rating (VR) was also affirmed at "A".

This stability in credit rating is a testament to SAB's solid financial foundation. Moody's reaffirmed SAB's local and foreign currency deposit ratings in October 2018, just before its merger with Alawwal Bank.

Here are some key credit ratings for SAB and its affiliates: