SABB reaches 100,000 customers for 'Al Ruwaad Account Package'

John Coverdale, SABB's Managing Director, and Adel Al-Nasser, Deputy-Managing Director, in addition to a number of senior SABB managers, attended the ceremony, where the accomplishments related to this event were reviewed.

In line with this, John Coverdale stressed that "Al Ruwaad Account Package" has nearly doubled its customer base in 2006. He also added, "SABB will aim at further improving service quality to SABB's customer base, and that the package, has become more than just a suite of products, it has transformed into a mechanism that meets the needs and expectations of targeted customers. The package has also surpassed the quality offered to competitors in terms of product range and added value benefits and features, all for free."

The 'Al Ruwaad Account Package', was introduced in 2005 and is one of several packages offered by SABB, including the Premier, Imtiaz and the Al Mustaqbal student package. Eight benefits are now part of 'Al Ruwaad Account Package', including the newly introduced free remittance service via SABBNET after an initial payment of SAR 50 fee per beneficiary account.

The "Al Ruwaad Account Package" is aimed at middle market customers with average balances in current and/or savings accounts that range between SAR 3,000 and SAR 100,000. New eligibility criteria for new non-bank customers were introduced this year.