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South Africa
1938 (88 Years)
Last online: No recent activity
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This company is currently Unproved.
Please be cautious of the potential risks!
License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Get to know Samba
Company Information
Get to know Samba
Originally founded in 1980 as the Saudi American Bank, a joint venture with Citibank, the company rebranded as Samba Financial Group in 2003 after Citibank sold its stake. For decades, Samba was a dominant force in the Saudi financial sector, providing a comprehensive range of banking services, including retail, corporate, private, and investment banking. On April 1, 2021, Samba completed a historic merger with the National Commercial Bank (NCB) to form the Saudi National Bank (SNB). This merger created a national champion with over SAR 900 billion in assets, solidifying its position as the largest bank in Saudi Arabia and a major player in the Middle East. The new entity continues the legacy operations under the SNB brand.
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