History

Ever since our first branch was established in Jeddah by Citibank in 1955, we have upheld a history of excellence. Samba came into being through a Royal Decree in 1980 and has now expanded into one of the foremost financial institutions in the Middle East.

Our journey

1955
Citibank opens Jeddah Branch.
1966
Citibank opens Riyadh Branch.
1980
Citibank becomes Saudi American Bank following a Royal Decree. Citibank retains 40% ownership and manages the bank through a Technical Management Agreement. The remaining majority shareholding was owned by Saudi.
1984
Samba opens its first international branch in London, UK.
1991
Citibank reduces its shareholding to 30%.
1999
Samba merges with United Saudi Bank creating one of the largest financial institutions in the Middle East, of which Citibank owned 22.83%.
2002
Citibank reduces its shareholding to 20%.
2003
The Technical Management Agreement with Citibank ends and Samba comes under full local management on October 31, 2003. To mark this important milestone, the business is officially renamed Samba Financial Group or Samba - a name that its loyal customers had been using for long time.
2004
Citibank sells its last remaining 20% shareholding to local investors.
2007
  • Samba acquires a majority stake (68.4%) in Crescent Commercial Bank in Pakistan,
  • Obtains a branch banking license to operate in Dubai.
  • Samba creates Samba Capital, a new specialized investment house in Saudi Arabia.
2008
  • Samba launches its branch in Dubai,
  • Completes the acquisition formalities of Crescent Commercial Bank in Pakistan and expands its presence across Pakistan,
  • Acquires a license from Qatar Financial Centre to operate a branch bank in Qatar,
  • Acquires license to operate as a foreign investment institution in India.
2009
Samba Financial Group launches a new Corporate Social Responsibility strategy with a series of training programs for university and institute graduates to promote their employment opportunities through comprehensive training courses.
2010
Samba opens its branch in Qatar, becoming the first Saudi bank to establish a presence in Qatar with core operations including corporate and investment banking.