SABB -Equity Report -24-06-2012

Leveraging the strengths of its association with HSBC, we expect SABB to actively participate in the strong credit growth being witnessed in Saudi Arabia’s banking sector. profit growth to be boosted by operating income growth and stable provisions this year.

Saudi British Bank (SABB) is an associated member of the HSBC Group and one of Saudi Arabia’s leading banks with a total of 80 branches. The bank has an active corporate lending presence with its corporate banking segment contributing 48% of operating income, while on the retail side it has access to a large base of HNI clients. The bank’s connection with HSBC allows it to benefit from the trade finance business, which contributes approximately 50% of fee income.