RIYADH, 18 February 2006 — SABB launched its new logo marking the beginning of a new era in its long history in the Kingdom. The unique HSBC-linked logo in black, red and white hexagonal shape was disclosed last week in the SABB’s model branch in north Riyadh. The event for the occasion was held in honor of Lord Mayor of London Alderman David Brewer, and British Ambassador in Saudi Arabia Sir Sherard Cowper-Coles, and attended by many executives working in the banking and financial markets industry.
Abdullah Mohamed Al-Hugail, SABB chairman, in his speech welcoming the guests and the dignitaries said: “the new image is culminating over thirty years of great partnership with HSBC during which SABB successfully contributed to the establishment of solid banking industry.” The Lord Mayor Brewer said: “For HSBC is headquartered in London, the City of London is committed to support its business partners, we are happy to promote the brand of the City of London and the new logo of SABB and HSBC as well.”
Earlier in a speech relating to SABB’s new logo and its link to HSBC, John Coverdale, SABB managing director, said, “What we are linking with is a powerful, established global brand, the fastest growing brand in the world, now worth over $10 billion.”
“Although we are only 40 percent owned by HSBC we were formally licensed to use it. We will definitely use it to benefit from HSBC advertising and we will increase our brand equity in the Kingdom,” Coverdale added. “The new logo is a renewal of our pledge to our clients toward continuing success and quality services and products.”
HSBC is one of the largest banking and financial services organizations in the world with international network comprising over 9,700 offices in 77 countries.