Saudi Hollandi Bank
 | |
| Type | Public (Tadawul: 1040) |
|---|---|
| Industry | Finance |
| Founded | 1926 |
| Headquarters | Riyadh, Saudi Arabia |
| Key people | Mubarak Abdullah Al Khafrah (Chairman) |
| Products | Financial Services |
| Employees | 1504 |
| 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.
History
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.[citation needed]
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.[citation needed]
In June 2011, Saudi Hollandi Bank Launched The First MasterCard World Credit Card With A Silver Mark in the Middle East.[1]
At the end of March 2012, the bank's paid-up capital amounted to SAR 3,969 million. Saudi Hollandi Bank employs 1,504 staff with a Saudization ratio of over 88.43% and operates 45 branches, 15 Ladies Sections, 30 Preferred Banking Centres and 265 ATMs providing banking services throughout the Kingdom.
History of Achievements
1926: 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
Operations
SHB is organized into three main business segments: Corporate Banking, Personal Banking and Treasury. In addition, the Bank provides brokerage, asset management and investment banking services through its subsidiary Saudi Hollandi Capital.
Principal Divisions and Subsidiaries
- Saudi Hollandi Capital: engages as principle and agent in retail equity brokerage, asset management, corporate finance and investment advisory activity, debt arrangement and securities custody services
- Wataniya Insurance Company: with 20% ownership for Saudi Hollandi Bank
- Saudi Hollandi Insurance Agency Company: entirely owned as its bancassurance distribution arm with licensed in insurance activities.
- Saudi Hollandi Real Estate Company: entirely owned in support of SHB’s Home Finance by being involved in the registration of real estate title deeds
Branches and ATMs
Saudi Hollandi Bank has over 265 ATMs, 6 Business Banking Centres, 30 Preferred Banking Centres and 45 branches across the Kingdom, in which 16 are Ladies Sections. Amongst Saudi Hollandi’s ATMs are Teller Cash Recycling machines (TCR). Preferred Banking Centers are for Saudi Hollandi’s VIP clients, which reflect their lifestyle and aspirations. Business Banking Centers were launched in 2012 in collaboration with International Finance Corporation to offer a full suite of financial solutions and product innovations tailored to meet financial requirements of the SME segment, ensuring ease of business conduct.
Senior Management
Board of Directors
The current members of Saudi Hollandi's board of directors are:
- Mubarak Abdullah Al Khafrah (Chairman)
- Bernd van Linder (Managing Director)
- Lubna Suliman Olayan (non executive director)
- Sulaiman Abdullah Al Kadi (non executive director)
- Abdulhadi Ali Shayif (non executive director)
- Jan Koopman (non executive director)
- Eyad Abdulrahman Al Hussain (non executive director)
- Javier Maldonado (non executive director)
- Ahmed Al Olaqie (non executive director)
References
- ↑ "Saudi Hollandi Bank Launches The First MasterCard World Credit Card With A Silver Mark in the Middle East". Zawya. 2011. Retrieved 25 August 2011.