27/01/2015 14:26 AST

HSBC Holding Plc appointed Majed Najm as chief executive of its Saudi operations, tapping its local affiliate to fill the top position, two people with knowledge of the matter said.

Najm joined Europe’s biggest lender from Saudi British Bank, where he was general manager of retail banking and wealth management, the people said, declining to be identified because the information isn’t public.

Najm replaced Walid Khoury, who left the lender in September. Nabeel Shoaib, HSBC’s deputy chief executive in Saudi Arabia, was acting CEO in the interim, Paul Harris, HSBC’s Dubai-based spokesman, said at the time.

HSBC’s banking operation in Saudi Arabia is a joint venture with Saudi British Bank, with HSBC owning 49 per cent of the company and SABB the rest. The London-based lender is among the most prominent international banks in the kingdom, which is opening up its $530 billion stock market to foreign investors later this year.

Saudi Arabia is HSBC’s second-biggest Middle East operation after the UAE, according to the bank’s annual report. The London-based lender earned $438 million from the country in 2013. Before joining SABB, Najm was also CEO of HSBC Bahrain, the people said.


CPI Financial

SABB celebrates winners of accelerator programme

02/04/2018

The Saudi British Bank (SABB) recently celebrated the winners of the first batch of the Taqadam start up accelerator programme in the presence of several senior officials from the government, private

Trade Arabia

SABB, Saudi university launch programme for SMEs

01/03/2018

The Saudi British Bank has joined hands with King Abdullah University of Science and Technology (KAUST) to launch the second phase of Taqadam program to support university-based entrepreneurs’ projec

Trade Arabia

SABB 2017 net profit up 1.5pc to top $1bn

21/02/2018

The Saudi British Bank (SABB) recorded a net profit of SR3.955 billion ($1.05 billion) for 2017, as against a net profit of SR3.895 billion for the previous year, marking an increase of 1.5 per cent.

Trade Arabia

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683
DARALARKAN 13.47 74,648,349
SABB Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
FAB 11.95 0.20 (1.70%)
NCB 64.98 0.35 (0.54%)
RJHI 76.03 0.78 (1.03%)
EMIRATESNBD 10.65 0.05 (0.47%)
SAMBA 26.98 0.59 (2.23%)
SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News