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The Alawwal Bank (Arabic: البنك الأول), previously known as Saudi Hollandi Bank, was a Saudi Arabian bank based in Riyadh, Saudi Arabia. It was the first operating bank in the Kingdom of Saudi Arabia and was founded in 1926 as a branch of the Netherlands Trading Society. On 14 March 2021, Alawwal was fully merged with SABB. [4]
In May 2018, prompted by recent changes to Vision 2030 economic reforms, SABB announced its intention to acquire Alawwal Bank in the Saudi banking sector's first merger in twenty years. [5] [6] On June 16, 2019, the official legal merger of Saudi British Bank and Alawwal Bank was completed, making the two banks one legal entity. [7]
Saudi British Bank (SABB) and Alawwal Bank have agreed a merger to create Saudi Arabia's third-biggest lender, in a $5 billion deal that marks the first major banking tie-up in the kingdom in two ...
In Saudi Arabia, a total of 37 banks are currently licensed by the Saudi Central Bank (SAMA): [1] [2] 11 local banks, [2] 23 branches of foreign banks, and 3 digital banks. [ 1 ] Local Banks
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She has been on the boards of WPP and Saudi Hollandi Bank (now Alawwal Bank), [1] as well as the International Advisory Boards of Rolls-Royce and Citigroup. [2]Olayan was the Chief Executive Officer of Olayan Financing Company, and [3] (OFC), the holding entity for The Olayan Group's operations in the Kingdom of Saudi Arabia and the Middle East until May 1st 2019, when she was replaced by ...
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