Job Discussion Forums

Linda467 · Joined: 01 Sep 2009 Posts: 138 Location: A Secret

I have been checking on the net and have only found Arab Banks, is there any Citibank, Bank of America, Barclays and the likes ???

Thanks !

Linda

Cleopatra · Posted: Fri Sep 04, 2009 4:12 pm Post subject:

By law foreign banks are not allowed to operate in KSA.

However, there are plenty of foreign banks operating in partnership with a Saudi bank. Among them are Saudi ARabian American Bank (SAMBA), Saudi British Bank (basically a part of HSBC), Saudi-Holandi Bank, Saudi French Bank and so on. They all have numerous branches all over the major cities.

Linda467 · Joined: 01 Sep 2009 Posts: 138 Location: A Secret

Thanks very much Cleo, I appreciate to get a straight answer

Regards,

Linda

lucreziaborgia · Joined: 19 May 2009 Posts: 177

Hi Cleo,
Do you know if HSBC has a joint relationship with any Saudi Bank in Riyadh?

johnslat · Posted: Fri Sep 18, 2009 4:49 pm Post subject:

Dear lucreziaborgia,

They do seem to:

http://www.hsbc.com/1/2/

These links may allow you to access other HSBC Group websites. Please read the terms and conditions of the linked website, which may differ from the terms and conditions of HSBC.com Incs website.

When you click on the Saudi link, you go here (Saudi Arabian British Bank):

http://www.sabb.com/home/home_en.shtml

Regards,
John

trapezius · Posted: Fri Sep 18, 2009 6:34 pm Post subject:

Saudi British Bank (SABB) is affiliated with HSBC. www.sabb.com.sa

Saudi American Bank (SAMBA) is affiliated with Citibank. www.samba.com.sa

Banque Saudi Fransi (BSF) is affiliated with Credit Agricole. www.alfransi.com.sa

Saudi Hollandi Bank (SHB) is affiliated with ABN AMRO, a Dutch bank which is now owned jointly by RBS (Royal Bank of Scotland), the Dutch Government, and Santander (a Spanish bank and the largest bank in Europe). www.shb.com.sa

In all 4 cases, the local banks are 60% Saudi-owned, and 40% by the respective named foreign banks.

Linda467 · Joined: 01 Sep 2009 Posts: 138 Location: A Secret

Dear John & Trap

You guys are such a reliable and straight source of information, thank you very much Very Happy

FYI, the Spanish Banco de Santander also owns a huge stake on Royal Bank of Scotland and bought up Abbey in the UK not long ago. Have lots of liquidity and are going around shopping for deals worldwide - although very aggresively Laughing