Z7_K8M0I8402PTU806OF5GPF03SV3

SAB

28 November, 2024 19:52

The Saudi Awwal Bank Announces Signing a Contract with HSBC Global Services (UK) Limited

Element ListExplanation
Introduction The Saudi Awwal Bank announces signing a contract with HSBC Global Services (UK) Limited (Related Party) to replace the current Global and Receivable finance system with a new Trade system.
Date of Announcement of the Award 2024-11-28 Corresponding to 1446-05-26
Contract Subject Matter Replace the current Global and Receivable finance system with a new Trade system.
The Entity with Which the Contract was Signed HSBC Global Services (UK) Limited
Date of Signing the Contract 2024-11-28 Corresponding to 1446-05-26
Contract Value An amount of (190,340,813) only one hundred ninety million, three hundred forty thousand eight hundred and thirteen Saudi Riyals (Including VAT).
Contract Details To replace the current Global and Receivable finance system with a new Trade system starting from 28 November 2024.
Contract Duration The duration of the contract is for two years.
Financial Impact and the Relevant Period It is expected that it will have a positive impact on the financial results for the years from 2025 to 2028.
Related Parties • Mr/ Anthony Cripps has an indirect interest in this contract as board member who represents the foreign partner HSBC Holdings BV. • Mr/ Samir Assaf has an indirect interest in this contract as board member who represents the foreign partner HSBC Holdings BV. • Mr/ Stephen Moss has an indirect interest in this contract as board member who represents the foreign partner HSBC Holdings BV.
Additional Information The Saudi Awwal Bank confirms that this contract was made through competition without preferential terms or advantages.

Other Announcements

GHIDA ALSULTAN
2025-07-01

Addendum Announcement from Ghida Alsultan for Fast Food Co. in regards to the Results of the Extraordinary General Assembly Meeting (First Meeting).

Read More
ALAMAR
2025-07-01

Addendum Announcement from Alamar Foods Co. in regards to

Read More
APC
2025-07-01

Arabian Pipes Co. announces the deposit of the amounts from selling the shares fractions resulted from the company’s capital Increase in the eligible shareholder’s accounts

Read More
Z7_K8M0I84021EV8060AAR40C00B7