News 2008

June 2008


The First Saudi Bank to Operate in UAE
Samba Opens its First Branch in Dubai

Al Eisa: Samba Dubai Embodies our Regional Expansion Strategy

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:

"At Samba, we continue to scrutinize and study all promising opportunities as we did when we opened the Samba London Branch and also when we acquired a majority share in Crescent Commercial Bank of Pakistan. These were undoubtedly successful steps in the right direction. Continuing on our growth plans, Samba Dubai embodies our regional expansion strategy. 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 customers with the most innovative and advanced banking services, thereby qualifying us to become the mostly acclaimed bank as viewed by independent international rating agencies. We are confident that we can compete efficiently in the new market".

Al Eisa pointed out that the license granted to Samba allows it to operate in all UAE areas through its licensed Dubai Branch. He expressed his deep thanks and appreciation to the Central Bank of the UAE and all the concerned authorities in the UAE for their trust in Samba and for granting Samba the opportunity to provide world-class banking services to this very important GCC market.

It is also worth mentioning that Samba is the only Saudi bank that provides integrated banking services in UAE market including Retail Banking, Priority Banking (including Samba Gold and Samba Diamond), Private Banking, Investment Banking, Treasury, and Corporate Banking services. Samba Dubai will also provide electronic banking services, such as Samba Phone and Samba Online thereby offering customers a 24 hour full service operation.

Samba Dubai is conveniently located at Jumeirah beach Road, which is a premium and affluent district in Dubai. The Branch's architecture features an elegant design, reflecting Samba's standing and readiness to provide world class banking to its UAE clients.