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.