Samba Financial Group

Samba is a banking heavyweight that provides a wide range of services in the following segments: consumer, corporate, treasury, and investment banking. The international branches of Samba Financial Group are represented in London, Qatar, Dubai, and the cities of Pakistan.
Samba Financial Group was founded in 1980 with the acquisition of branches of Citibank, the first National City Bank in Jeddah and Riyadh. In July 1999, the company merged with United Saudi Bank through a stock exchange to form one of the largest banks in the Middle East.

In 2003, Samba came under full local management and was officially renamed the Samba Financial Group. In 2004, Citibank sold its last 20% stake in the company to local investors.

In 2007, the bank acquired a controlling stake (68.4%) in the commercial bank Crescent in Pakistan. Obtains a banking license in Dubai and creates Samba Capital, a new specialized investment house in Saudi Arabia. In 2010, it became the first Saudi bank to open a branch in Qatar with significant operations, including corporate and investment banking.

Samba Financial Group proved to be stable even in the context of the credit crisis: net profit in 2008 amounted to USD 1,2 billion, and new shares in the Saudi stock market were supported. In August 2011, Samba entered the top ten safest banks in the Middle East, taking fourth place.

Samba Financial Group believes that its success bears great responsibility. The company focuses on the fact that it not only provides financial solutions but also affects the progress in the communities, which serves as a partner in economic prosperity and a catalyst for the growth of society.

Samba Financial Group Principles:

  • Honest treatment of consumers at all stages.
  • Transparency and providing consumers with relevant, accessible, clear, easy to understand, accurate, not misleading information about services.
  • Implementing financial education to help consumers develop knowledge, skills, and appropriately understand risks.
  • Ethical work for the benefit of customers, which involves responsibility for their financial interests.
  • Fraud Protection Controlling deposits and savings through the development of high-level management systems.
  • Protect confidentiality through appropriate controls.

Samba Financial Group public position

In October 2018, Samba joined the MENA Financial Crime Investigation Team and became its last official member and the first Saudi bank to join the MENA FCCG.

In November 2018, Samba Financial Group was honored with the “Best Commercial Bank for Welfare and Society in Saudi Arabia” at the Global Wealth and Society Awards in London.

The financial performance of Samba Financial Group

  • Between January and December 2018, the Saudi Bank’s profit increased by 10% to 5,53 billion riyals compared to 5,02 billion riyals a year ago.
  • In 2018, Samba Financial Group’s shares were included in the list of 30 heavyweight shares on the Saudi stock and ranked fourth with 3.9%.
  • According to the report, in the first six months of 2019, the company’s profit decreased by 16.25% year-on-year to 2,39 billion riyals.
  • The Board of Directors of Samba Financial Group approved the distribution of interim cash dividends on shares in the amount of 7.2% among shareholders for the first half of 2019. According to Samba, the company will pay SAR 1,4 billion or SAR 0.72 per share, excluding taxes.

According to Moody’s rating agency for 2019, Samba Financial Group takes the following positions: A1 – reflects a basic assessment of creditworthiness and A2 – reflects stable financing and liquidity, high solvency, quality and profitability of sustainable assets.

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