SABB shareholders approve name change to Saudi Awwal Bank

01/06/2023 Argaam

SABB shareholders approve name change to Saudi Awwal Bank

Logo of SAB

Saudi British Bank (SABB) shareholders approved amending Article No. 2 of the bylaws related to the bank’s commercial name, during the extraordinary general meeting (EGM), held on May 31, according to a statement to Tadawul. 

 

The bank’s name will change to Saudi Awwal Bank (SAB). 

 

Shareholders also endorsed amending Articles No. 13 and 16 of the bylaws as regards the capital increase and the debt instruments issuance.  

 

The bank bylaws were to be amended, aligning with the New Companies Law.  

 

According to data compiled with Argaam, Article No. 2, subsequent to the amendment, stipulates that the bank’s name will be Saudi Awwal Bank (SAB), a Saudi joint stock firm.  

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