Samba (bank)

Samba Financial Group

Company type	Public
ISIN	SA0007879097
Industry	Finance
Founded	1980
Headquarters	Riyadh, Saudi Arabia
Key people	Eisa M. Al-Eisa, Chairman
Products	Financial Services
Revenue	4,510 Billion Saudi Riyals (2013)
Total assets	255,603,801,000 Saudi riyal (2019)
Website	www.samba.com

Samba Financial Group one of the region's largest and most acclaimed financial services groups with an unrivalled reputation for world class financial solutions comparable with the best in the world. Since inception, Samba has been leading the industry in innovation with a long list of industry firsts, playing a major role in the modern transformation of banking in Saudi Arabia. Indeeed, their world class services, market-leading products and superior technology have made them one of the most successful financial services brands and the most internationally acclaimed bank in Saudi Arabia and even the Middle East.

History

Samba has been a leader in pioneering innovative banking services and products. Samba was the first bank to offer these services in the Kingdom: Private Banking Priority Banking: Sambadiamond & Sambagold ATMs Charge Cards Debit Cards Islamic Credit Cards Murabaha-based Cash Finance Phone Banking (with live and automated voice response) Investment Banking and Brokerage Corporate Finance and M&A Services Leasing FX Derivatives Interest Rate Derivatives Samba Alkhair Ladies Credit Card Credit Shield Insurance Savings-Linked Insurance Cash and Check Deposit Facility at ATMs SpeedCash Remittance Services Automated Signature Verification Cash Management & Transaction Banking Services Online Local Share Dealing Online GCC investment account opening GCC Online Trading Straight-through-processing of IPO subscriptions A dedicated full-service investment unit with full brokerage and asset management capabilities A local equity fund open to overseas investors and listed in the London Stock Exchange The Kingdom's first Real Estate Fund The Kingdom's first China Fund

Samba is one of the largest financial services in Saudi Arabia and has an extensive operations network in the Kingdom and across the globe.

In Saudi Arabia:

72 Branches, 33 SpeedCash centres, 496 ATMs, in Saudi Arabia 26 Ladies centers, SambaOnline, SambaPhone, SambaMobile

In Dubai:

1 Branch, 12 ATMs, SambaOnline, SambaPhone

In Pakistan:

28 Branches across major cities in Pakistan, 28 ATMs, SambaOnline, SambaPhone,

in London:

1 Branch

in Qatar:

1 Branch

Key milestones:

Samba has completed more than 25 years of operations in the UK since upgrading its presence from a representative office to a fully licensed bank in 1987 In the UAE, Samba has received a full commercial banking license to open a branch in Dubai. launched their first integrated branch in Dubai in June 2008 In early 2010, Samba opened its first branch in Doha, Qatar, after we acquired an operating license from the Qatar Financial Center Authority Samba has acquired a majority stake in Crescent Commercial Bank Ltd, Pakistan in 2007 and rebranded it as Samba Pakistan Limited and expanded its branches to 28 in a record time.

Samba's journey:

1955 Citibank opens Jeddah Branch. 1966 Citibank opens Riyadh Branch. 1980 Citibank becomes Saudi American Bank following a Royal Decree. Citibank retains 40% ownership and manages the bank through a Technical Management Agreement. The remaining majority shareholding was owned by Saudi. 1984 Samba opens its first international branch in London, UK. 1991 Citibank reduces its shareholding to 30%. 1999 Samba merges with United Saudi Bank creating one of the largest financial institutions in the Middle East, of which Citibank owned 22.83%. 2002 Citibank reduces its shareholding to 20%. 2003 The Technical Management Agreement with Citibank ends and Samba comes under full local management on October 31, 2003. To mark this important milestone, the business is officially renamed Samba Financial Group or Samba - a name that its loyal customers had been using for long time. 2004 Citibank sells its last remaining 20% shareholding to local investors. 2007 Samba acquires a majority stake (68.4%) in Crescent Commercial Bank in Pakistan, Obtains a branch banking license to operate in Dubai. Samba creates Samba Capital, a new specialized investment house in Saudi Arabia. 2008 Samba launches its branch in Dubai, Completes the acquisition formalities of Crescent Commercial Bank in Pakistan and expands its presence across Pakistan, Acquires a license from Qatar Financial Centre to operate a branch bank in Qatar, Acquires license to operate as a foreign investment institution in India. 2009 Samba Financial Group launches a new Corporate Social Responsibility strategy with a series of training programs for university and institute graduates to promote their employment opportunities through comprehensive training courses. 2010 Samba opens its branch in Qatar, becoming the first Saudi bank to establish a presence in Qatar with core operations including corporate and investment banking.

Samba was awarded "Best Bank in Saudi Arabia" in every year since 2005, in addition to winning several other awards. In 2014, Samba is often viewed as the safest bank in Saudi Arabia. Yet, in December 2014, Fitch affirmed and withdrew SAMBA Financial Group's (SAMBA) EMTN Program rating.