Riyadh – Mubasher: Saudi British Bank (SABB) has announced a new name and identity to become SAB – الاول, according to a recent press release.

The rebranding came two years after the merger of SABB and Alawwal Bank. The process was implemented over 18 months, during which the merged entity continued running its business as SABB.

After obtaining the regulatory and shareholders’ approvals, SAB – الأول will operate as Saudi Awwal Bank.

Lubna Olayan, Chairperson of SAB – الأول, said: “This rebranding is not just a change in our name and visual identity, but a strong reaffirmation of our dedication to putting our customers first by prioritising their aspirations and ambitions, to innovating and promoting sustainability in all we do and to supporting Vision 2030 and key sectors of the Saudi economy."

Tony Cripps, CEO of SAB – الأول, highlighted: “Our new name reflects our commitment to creating one of the most modern and forward-thinking banks globally, a bank that supports future thinking and confidence in Saudi Vision 2030.”

Cripps elaborated: “Our new name also reflects our rich history. ‘Alawwal’ means ‘first’ in Arabic, and its incorporation into our new identity reflects a long history as a pioneer and innovator, a history that goes back to 1926 when Alawwal’s predecessor became the first bank to operate on the territory that would a few years later become the Kingdom of Saudi Arabia.”

Last year, SABB generated SAR 4.87 billion in net profit, higher by 52.15% than SAR 3.20 billion in 2021.