The deal, considered to be a strategic initiative between two of the biggest commercial institutions in the Kingdom, is expected to contribute in a big way to developing the company's activities in the field of financial services.
The deal was signed at the company's offices in the presence of Dr. Saad Al-Ghamdi, Senior Vice President, and Mr. Saeed Bahazeg, General Manager of Finance, on behalf of the Abdullatif Jameel Group. SABB was represented by Mr. Alaa Al-Jabri, Regional Manager - Western Province, and Mr. Ghassan Al-Amoudi, Senior Relationship Manager, Commercial and Institutional Banking.
SABB is considered one of the pioneering Saudi banks in supporting projects in socio-economic fields that are Shariah-compliant. It has many achievements to its credit during recent years, which qualified the bank to win the award of "Best bank in the Kingdom of Saudi Arabia" for many years by Euromoney International Magazine; it also won an outstanding rating by the international credit rating agency "Standards and Poor".
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SABB signed SR 916 m financing deal with The United Installment Co. Ltd.
- Saudi Arabia: Tuesday, December 19 - 2006 at 12:15
- PRESS RELEASE
SABB has signed an SR 916 million car financing deal with the United Installment Co.,an affiliate of Abdullatif Jameel Group.
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Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, December 19 - 2006 at 12:15 UAE local time (GMT+4)
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This article was updated on Sun Dec 31 2006.
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