| Type | Public |
|---|---|
| Industry | Finance |
| Founded | 1926 |
| Headquarters | Riyadh, Saudi Arabia |
| Key people | Engr. Mubarak Abdullah Al-Khafrah(Chairman) |
| Products | Financial Services |
| Employees | 1417 |
| Website | www.shb.com.sa |
The Saudi Hollandi Bank (SHB) (Arabic: البنك السعودي الهولندي) is a bank based in Saudi Arabia. It was the first operating bank in the Kingdom of Saudi Arabia and was originally founded in 1926 as a branch of the Netherlands Trading Society.
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Originally a branch of the Netherlands Trading Society it was set up in 1926 to serve the Hajj pilgrims from the Dutch East Indies, now Indonesia, and operated out of one office in Jeddah. As it was the only bank in the Kingdom at the time, it acted as the central bank, keeping the Kingdom's gold reserves and receiving oil revenues on behalf of the Saudi Arabian government. In 1928 the Saudi Riyal, a new silver coin commissioned by Late King Abdulaziz, became the Kingdom's first independent currency. The Netherlands Trading Society office in Jeddah assisted the government with the launch of the local currency.
In 1954 the Netherlands Trading Society expanded its operations in the Kingdom by opening two additional branches, in Al Khobar and Ad Dammam, in the Eastern Province.
In 1969, ABN Bank, the successor of the Netherlands Trading Society, was one of the first foreign banks to implement the Saudization initiatives set forth by the Saudi Arabian Monetary Agency (SAMA) and became the model for other foreign banks in the Kingdom. In 1977 the Saudi Hollandi Bank was established as a joint-venture company with a paid-up capital of SAR 35 million.
The branch network was expanded to include Riyadh, Jubail, Makkah, Hofuf, Madinah, Qatif and other regions.
In 2009, the bank opened its new operations center Al Waha, which houses the bank's centralised operations functions as well as the SHB Academy. Also in 2009, SHB was the first bank in the Kingdom to deploy the automated Teller Cash Recycling machines (TCR), which was introduced to enhance the Open Branch concept that allows direct contact between the bank's employees and its customers.
At the end of June 2010, the bank's paid-up capital amounted to SAR 3,307 million. Saudi Hollandi Bank employs 1,417 staff with a Saudization ratio of over 87.44% and operates 43 branches, 15 Ladies Sections, 30 Preferred Banking Centres and 246 ATMs providing banking services throughout the Kingdom.
In June 2011, Saudi Hollandi Bank Launched The First MasterCard World Credit Card With A Silver Mark in the Middle East.[1]
1926: His Royal Highness prince Faisal bin Abdulaziz visits the Netherland Trading Society in Amsterdam
1927: The Bank offered to meet the financial needs of a group of pilgrims
1928: Assisted in issuing the first Kingdom’s first independent currency
1994: The first foreign bank to become a majority Saudi owned bank
2005: The Bank leads a consortium of 8 Saudi banks in financing the Jamarat Bridge in Makkah totaling SAR 1.5 Billion
2009: First Bank to introduce TCR technology in the Kingdom