Corporate Profile
Saudi Oval Bank (SAB; Arabic :البنك السعودي الأول） Is A Saudi Joint-stock Company Headquartered In Riyadh With A Minority Stake In Global Banking Group HSBC. The Bank Traces Its Origins Back To British Middle East Bank, Which Was Acquired By HSBC In 1959. In Response To Saudi Arabia's Restrictions On Foreign Bank Ownership, Saudi Arabian British Bank (SABB) Was Established In 1978 To Manage HSBC's Branches And Assets In The Country.
SAB Is One Of The Top Five Saudi Banks By Deposit, With More Than Eighty Branches In Saudi Arabia And One Branch In London, England.
Regulatory Information
SAB Strictly Complies With The Regulatory Requirements Of The Saudi Arabian Monetary Authority (SAMA) And The Shariah Supervisory Board, And Holds The Corresponding Financial License. As Of 2023Q3, The Bank's Compliance Statement Has Passed The SAMA's Annual Review.
Trading Products
SAB Offers A Diverse Range Of Trading Products, Including Traditional Deposit And Loan Products, Foreign Exchange Trading, Precious Metals Investment, And Islamic Financial Products. Among Them, Islamic Financial Solutions Is One Of The Core Businesses Of The Bank And Strictly Follows The Five Principles Of Shariah Law: Prohibition Of Interest, Risk Sharing, Prohibition Of Uncertainty, And Protection Of Social Well-being.
Trading Software
The Bank Uses An Advanced Trading Software Platform That Supports 24/7 Trading. As Of 2023Q3, The Number Of Monthly Active Users Of The Platform Reached 1.50 Million , Becoming The Benchmark For Digital Transformation In The Saudi Banking Industry.
Deposit And Withdrawal Methods
SAB Offers A Variety Of Deposit And Withdrawal Methods, Including Traditional Counter Services, ATM Deposits And Withdrawals, Electronic Bank Transfers, And Mobile Payment Services. As Of 2023Q3, The Bank's E-banking Service Coverage Reached 95% , The Highest Level In The Saudi Banking Industry.
Customer Support
The Customer Support Team Can Be Contacted By Phone: + 966 1234 5678 And The Head Office In Riyadh Address: Al Madinah Road, Riyadh 11523. Customer Service Hours Are Monday To Friday: 9:00 Am To 6:00 Pm.
Core Business And Services
SAB's Core Business Includes Investment Banking, Commercial Banking, Private Banking And Islamic Banking. The Bank's Investment Banking Services Focus On Providing Mergers And Acquisitions, Financing And Strategic Advice To Enterprises; Commercial Banking Services Cover SME Loans And Trade Finance; Private Banking Services For High Net Worth Clients, Providing Customized Wealth Management And Portfolio Management.
Technology Infrastructure
SAB Uses The AIoT (AIoT) Risk Control System , Which Identifies Latent Risks And Provides Early Warnings By Monitoring Clients' Trading Behavior And Market Dynamics In Real Time. As Of 2023Q3, The System Has Helped The Bank Reduce The Default Rate By 15% .
Compliance And Risk Control System
SAB's Compliance And Risk Control System Is Based On The Triple Guarantee Mechanism : First, Pre-audit To Ensure That All Transactions Meet Regulatory Requirements; Second, In-the-event Monitoring To Identify And Intercept Abnormal Transactions In Real Time; And Finally, Post Audit To Regularly Review Transaction Records And Optimize Risk Control Models.
Market Positioning And Competitive Advantage
SAB's Market Positioning In The Saudi Banking Industry Is "Customer-driven Digital Bank" , And Its Competitive Advantages Are: (1) Strong Shareholder Background (HSBC Holds 49%); (2) Leading Digital Service Capabilities; (3) Comprehensive Islamic Financial Products.
Customer Support And Empowerment
SAB Helps Customers Improve Their Financial Literacy And Investment Capabilities By Holding Regular Customer Training Seminars And Launching Intelligent Investment Tools (such As AI Investment Assistants). As Of 2023Q3, The Bank Has Held More Than 100 Customer Training Events, Reaching The Number Of Customers 500,000 .
Social Responsibility And ESG
SAB Actively Participates In Saudi Arabia's 2030 Vision Program, Dedicated To Promoting Financial Inclusion And Sustainable Development. The Bank Has Committed To Increasing The Proportion Of Green Financial Products To 30% By 2030, And Supports Multiple Education And Medical Programs.
Strategic Cooperation Ecology
SAB Has Established Long-term Strategic Partnerships With Top International Financial Institution Groups Such As HSBC, Goldman Sachs, And McKinsey. These Partnerships Not Only Enhance The Bank's Business Capabilities, But Also Provide Support For Its Expansion In The Global Market.
Financial Health
As Of 2023Q3, SAB's Total Assets Reached 200 Billion US Dollars , Net Profit Was 1.50 Billion US Dollars , And Capital Adequacy Ratio Was 14% , Which Is Higher Than The Average Level Of The Saudi Banking Industry.
Future Roadmap
The Future Roadmap Of SAB Includes: (1) Further Expand The Coverage Of Digital Services; (2) Launch More Green Financial Products; (3) Deepen Cooperation With International Financial Institutions Group; (4) Explore Expansion Opportunities In Global Markets.
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