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Saudi non-oil business activity strongThe business activity in Saudi Arabia's non-oil private sector remained strong in February with steady growth in both output and new orders across the Kingdom, according to a new report. The job creation was solid, while purchasing cos More… |
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HSBC Saudi unit Q2 net plunges 34 per centHSBC's Saudi affiliate SABB bank, the fifth-largest Saudi bank by market value, posted a worse-than-expected 34 per cent fall in second-quarter net profit. SABB made SR447 million ($119.2 million) after SR676 million in the three month More… |
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HSBC's David Dew to head bank's Saudi unitSaudi lender SABB bank, HSBC's affiliate in the kingdom, is likely to appoint veteran banker David Dew as its new chief executive, three people familiar with the situation told Reuters. Dew is currently deputy-chief executive of H More… |
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Fitch stable outlook for SABB BankFitch Ratings has affirmed Saudi-based Saudi British Bank's (SABB) long-term foreign currency Issuer Default Rating (IDR) at 'A' with a stable outlook. Fitch has simultaneously affirmed SABB's long-term local currency IDR a More… |
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SABB books $94m Q3 loan lossesSABB bank, HSBC's Saudi affiliate, booked SR351.5 million ($93.7 million) in provisions for loan losses during the third quarter, bourse data showed on Saturday. SABB has reported a worse than expected 19.8 percent drop in third-quarter ne More… |
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SABB bank hikes provisions by $134mSABB bank, HSBC's Saudi affiliate, said on Tuesday it has raised by 505 million riyals ($134.7 million) provisions for possible loan losses during the first nine months of 2009. The bank has booked provisions for possible loan losses of 27 More… |
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SABB Bank Q3 profit down 20pcSABB bank, HSBC's Saudi affiliate, reported on Tuesday a near-20 per cent fall in third-quarter net profit which it said was due to 'conservative' policy. SABB made SR570 million ($152 million) in the three months to September More… |
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SABB bank CEO to step downSABB bank, the Saudi affiliate of HSBC, will appoint Richard Groves as the bank's top executive, replacing John Coverdale, sources from the bank said on Sunday. Coverdale, who has been at the helm of the Saudi lender since August 2005, More… |
