PROJECT

Projects

Summary of Proposed Investment

Project Number

23211

Company Name

THE SAUDI BRITISH BANK SJSC

Date SPI Disclosed

May 3, 2004

Country

Saudi Arabia

Industry

Financial Markets

Projected Board Date

Jun 10, 2004

Status

Completed

Sector

Commercial Banking - Housing Finance

Department

Global Industry, Financial Markets

Environmental Category

C - No Impact

Previous Events

Approved : Jul 29, 2004
Signed : Jun 22, 2005
Invested : Jul 7, 2005

Project Description

The proposed project consists of a long term local currency loan of up to $50 million to Saudi British Bank (the “SABB” or the Bank”), based in Riyadh Saudi Arabia. SABB is one of Saudi Arabia’s leading commercial banks, offering a wide range of financial services, including corporate, personal and investment banking. The proposed project is aimed at providing much needed long term financing to support the growth of SABB’s nascent mortgage lending program. SABB started its mortgage lending program three years ago and is now the leading provider of mortgage loans in Saudi Arabia.

Sponsor / Cost / Location

Development Impact