Karachi,June 23, 2017: JCR-VIS Credit Rating Company Limited has reaffirmed entity ratings of Samba Bank Limited (SBL) at ‘AA /A-1’ (DoubleA/A-One). Outlook on the assigned ratings is ‘Stable’. Previous rating action was announced on June 23, 2016.
JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Samba Bank Limited (SBL) at 'AA/A-1' (Double A/A-One). Outlook on the assigned ratings is 'Stable'. Previous rating action was announced on June 30, 2015.
JCR-VIS Credit Rating Company Ltd has upgraded the entity ratings of Samba Bank Limited (SBL) from 'AA-/A-1' (Double A Minus/A-One) to 'AA/A-1' (Double A/A-One). Outlook on the assigned ratings is 'Stable'. Previous rating action was announced on June 24, 2014. SBL's sponsor, the Samba Financial Group (SFG) is a prominent banking group in Saudi Arabia and rated among the Top 50 safest banks worldwide by Global Finance.
JCR-VIS Credit Rating Company Ltd has upgraded the medium to long term entity ratings of Samba Bank Limited (SBL) from 'A+ to AA-' (A Plus to AA minus) and reaffirmed its short term rating at 'A-1' (A-One). Outlook on the assigned ratings is 'Stable'. These short and long term ratings of the bank denote high credit quality with adequate protection factor and high certainty for timely payments to all financial commitment owing to strong liquidity position.
KARACHI June 29, 2010: Samba Bank Limited (SBL) maintained its credit rating at A/A-1 (Single A/ A-One) as reaffirmed by JCR-VIS Credit Rating Company with outlook on the entity as 'Stable'.
Karachi, June 29, 2009: JCR-VIS Credit Rating Company Ltd has reaffirmed the entity ratings of Samba Bank Limited (Samba) at ‘A/A-1’ (Single A / A- One). Outlook on the assigned ratings is ‘Stable’.
Mr. Eisa M. Al Eisa, Managing Director and CEO of Samba Financial Group, announced the launch of Samba's first integrated branch in Dubai, the first Saudi Bank to operate in UAE. Al Eisa commented on the occasion: "Samba Dubai embodies our regional expansion strategy. We scrutinize and study carefully and thoroughly all promising opportunities as we did when we opened Samba London Branch and acquired the majority share in Crescent Commercial Bank of Pakistan, which undoubtedly were successful steps in the right direction". About the rationale of choosing Dubai to open Samba's first GCC branch, Al Eisa said "Dubai is one of the region's most developing and growing cities, which necessitates advanced banking services that cater to the retail and corporate banking requirements. Furthermore, Samba is known for its ambitious initiatives in providing the most innovative and advanced banking services, which qualify it to become the mostly acclaimed bank by the international independent rating agencies. We are confident that we can compete efficiently in the new market".
Mr. Eisa Mohammad Al Eisa, Managing Director and Chief Executive Officer of Samba Financial Group (Samba), announced that Samba is preparing to launch its new presence in the GCC, mainly in Doha, the Capital of the State of Qatar, after obtaining a license from Qatar Financial Centre Regulatory Authority (QFCRA) to conduct regulated banking and financial activities in the Qatar Financial Centre. Al Eisa extended his gratitude and deep thanks to the Qatari concerned authorities for their confidence in Samba and giving it the opportunity to provide its banking and financial services in this very important and attractive regional market, and participating actively in developing the investment and financial environment in Qatar.
His Royal Highness Prince Salman Bin Abdulaziz, Riyadh Governor, handed over to Mr. Eisa M. Al Eisa, Samba's Managing Director and CEO, the 1428/1429 "Best Employment" Award, granted annually from the Institute of Public Administration to the best national institution that employs the largest number of the Institute's graduates, and in appreciation of Samba's efforts in sponsoring the "Twelfth Graduate and Job Day" organized by the Institute on Sunday 20/5/1429H (25/05/2008), under patronage of his Royal Highness Prince Salman Bin Abdulaziz.
Global Finance magazine, a premier magazine for finance and business, has named Samba Financial Group: "Best Islamic Financial Institution in the Kingdom of Saudi Arabia and in the GCC region" during 2008. Global Finance has announced its first annual awards for the World's Best Islamic Financial Institutions. In its announcement, the Magazine says "The winners of this year's awards are those banks that contributed to the growth of Islamic financing and successfully met their customers' needs for Shariah-compliant products, while creating the foundation for continued fast growth in the future". The Magazine indicated that Shariah-compliant finance is the fastest-growing area of finance worldwide, with more than 300 financial institutions that are either fully Islamic or selling Islamic finance products, in addition to several hundreds more Islamic investment banks and insurance companies, or takaful".
Samba Financial Group celebrated the Inauguration of Samba UK's Renovated Premises on Friday, April 18, 2008. Mr. Eisa Al Eisa, Managing Director and Chief Executive Officer of Samba Financial Group said that the major renovations of the Branch aims at keeping with the pledge to deliver best-in-class value propositions to our customers and to provide a state-of-the-art customer experience and a positive working environment.
Mr. Eisa Al Eisa, Managing Director and CEO of Samba Financial Group, says that Samba's sponsorship of Euromoney Saudi Arabia 2008 embodies its policy to sponsor national, regional and international economical events that provide for giving positive impression on the Kingdom's economical climate, and reflect the real prosperous outlook of the Kingdom and its leading role in all fronts. "The Kingdom's economy enjoys an enabling investment climate and great potentials to attract local and foreign investments thanks to its well-woven legislative and regulatory platform that enables it to assume a pivotal role in the region's economies leading them to wider horizons and be more effective in the world economical regime" Al Eisa was quoted as saying.
In its fifteenth annual selection of the Best Emerging Market Banks in the Middle East 2008, Global Finance Magazine has named Samba Financial Group "Best Bank in Saudi Arabia 2008" for the third year in the row, in recognition of its high performance and sustained growth in all banking and financial segments. The announcement of the winners coincides with the Magazines' celebration of its 21st anniversary in business.
Al Eisa affirmed that Samba has achieved this excellent performance in the first quarter 2008 despite the drop in the brokerage and asset management revenues. "The overall financial performance of the Bank continues to be strong with significant growth in consumer, corporate and treasury businesses, adding more diversity and quality to our core revenues from customers. Net Special Commission Income was SR 1,312 million increased by 12.9% over the same period last year, Assets grew by 39% to SR 180 billion as compared to SR130 billion for the first quarter 2007, and Investments increased to SR 67 billion, up by 72% over the same period 2007" says al Eisa.
In its session on 5 February 2008, Samba's Board of Directors resolved to recommend to the Extraordinary General Assembly Meeting to raise the Bank's capital by 50%, from SR 6 Billion (600 million shares) to SR 9 billion (900 million share), by granting 1 bonus share for every 2 shares held.
Having reviewed its meeting agenda and considered the Board's recommendations, Samba's Extraordinary General Assembly Meeting held at 4:00 p.m., on Wednesday 27 Safar 1429H (Corresponding to 5 March 2008) at Four Seasons Hotel In Riyadh, has approved the Board's recommendations to increase the Bank's capital by 50%, from SR 6 Billion (600 million shares) to SR 9 billion (900 million shares), by granting 1 bonus share for every 2 shares held by the shareholders who are registered in the Bank's records by the end of the trading session on Wednesday 27 Safar 1429H (Corresponding to 5 March 2008).
"Samba's 4Q07 net income attributable to the shareholders is SR 955 million which increased by 2% over the same quarter last year which was SR 938 million. Total Operating income at SR 1.6 billion increased by more than 5%, whereas Net Special Commission Income at SR 1.3 billion increased by 13% over 4Q06.
The Banker, a premier global banking and financial magazine, has named Samba Financial Group "Bank of the Year, 2007 in the Kingdom of Saudi Arabia. The Accolade was handed to Samba during the annual ceremony for distributing 2007 awards held in London on Wednesday 28 November 2007, and attended by prominent figures of global banking and financial industry leaders.