Saudi British Bk Final Rslts

HSBC Hldgs PLC
29 January 2001


                 THE SAUDI BRITISH BANK
            2000 ANNUAL RESULTS - HIGHLIGHTS

* Net profit of SAR743 million (US$198 million) for the
year ended 31 December 2000 - up SAR82 million (US$22
million) or 12.4 per cent over 1999.

* Customer deposits of SAR28.4 billion (US$7.6 billion)
at 31 December 2000 - up SAR2.7 billion (US$0.7 billion)
or 10.4 per cent over 31 December 1999.

* Loans and advances to customers of SAR15.6 billion
(US$4.1 billion) at 31 December 2000 - unchanged from 31
December 1999.

* Total value of the investment portfolio stood at
SAR18.4 billion (US$4.9 billion) at 31 December 2000 - up
SAR6.7 billion (US$1.8 billion) or 57.3 per cent over 31
December 1999.

* Total assets of SAR43.9 billion (US$11.7 billion) at 31
December 2000 - up SAR6.2 billion (US$1.6 billion) or
16.4 per cent over 31 December 1999.

* Earnings per share of SAR23.20 - up from SAR20.64 in
1999.

Commentary

The Saudi British Bank (SABB) recorded a net profit of
SAR743 million (US$198 million) for the year ended 31
December 2000. This represents an increase of 12.4 per
cent over the SAR661 million (US$176 million) earned in
1999.

Customer deposits increased to SAR28.4 billion (US$7.6
billion) at 31 December 2000 from SAR25.7 billion (US$6.9
billion) as customers responded positively to enhanced
products and services.

Loans and advances to customers at SAR15.6 billion
(US$4.1 billion) were unchanged from 31 December 1999 as
the demand for new facilities and increased personal
lending was offset by the scheduled repayment of
corporate loans.

The total value of SABB's investment portfolio increased
to SAR18.4 billion (US$4.9 billion) at 31 December 2000, 
from SAR11.7 billion (US$3.1 billion) at 31 December 1999. 
The bank has taken advantage of market opportunities to 
deploy available liquidity in a diversified investment
portfolio.

David Hodgkinson, managing director, said: 'Economic
confidence has been buoyed by increased oil prices in
2000. The recent Saudi government budget, which envisages
higher expenditure in 2001, is a welcome indicator of a
positive economic outlook.

'Results for the year were in line with our expectations.
There has been a steady increase in operating revenues
from a wider range of products and services. Our aim is
to provide customers with a choice which meets their
increasingly sophisticated requirements and which is
offered through a variety of delivery channels. We are
grateful for the support of our customers and thank our
staff for their efforts.

'In the light of this year's results, the Board of
Directors is recommending a net dividend of SAR13.0
(US$3.5) per share and a bonus issue of one share for
every four already held.'