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SABB hires Lubna Olayan as chairman following merger with Alawwal Bank

SABB hires Lubna Olayan as chairman following merger with Alawwal Bank
The bank affirmed appointing David Dew as the managing director
ALAWWAL
1040
1.45% 19.58 0.28
SABB
1060
-1.32% 37.50 -0.50

Riyadh – Mubasher: The Saudi British Bank (SABB) on Monday announced that its board of directors decided to appoint Lubna Sulaiman Olayan as the bank’s chairman until the end of the term of the board following the previously signed merger agreement.

The bank also confirmed the appointment of Khalid Abdullah Almolhem as the board vice chairman of until the end of the board’s term, according to a statement to the Saudi Stock Exchange (Tadawul).

Moreover, the bank affirmed appointing David Dew as the managing director of the newly merged-entity.

On Sunday, SABB and Alawwal Bank announced the completion of a merger between both lenders after the expiry of the creditor objection period on 15 June.