SABB 3Q2003 Results

HSBC Holdings PLC
14 October 2003

The following news release was issued today by The Saudi British Bank, a 40 per
cent indirectly-held associate of HSBC Holdings plc.

                             THE SAUDI BRITISH BANK

                    THIRD QUARTER 2003 RESULTS - HIGHLIGHTS

* Net profit of SAR912 million (US$243 million) for the nine months ended 30
September 2003 - up SAR176 million (US$47 million) or 24.0 per cent over the
same period in 2002.

* Customer deposits of SAR36.3 billion (US$9.7 billion) at 30 September 2003 -
up SAR2.1 billion (US$0.6 billion) or 6.4 per cent over 30 September 2002.

* Loans and advances to customers of SAR24.1 billion (US$6.4 billion) at 30
September 2003 - up SAR4.8 billion (US$1.3 billion) or 25.1 per cent over 30
September 2002.

* Total assets of SAR48.2 billion (US$12.9 billion) at 30 September 2003 - up
SAR4.4 billion (US$1.2 billion) or 9.9 per cent over 30 September 2002.

* Earnings per share of SAR22.80 (US$6.08) for the nine months ended 30
September 2003 - up 24.0 per cent from SAR18.39 (US$4.90) over the same period
in 2002.

Commentary

The Saudi British Bank (SABB) recorded a net profit of SAR912 million (US$243
million) for the nine months ended 30 September 2003. This represents an
increase of 24.0 per cent over the SAR736 million (US$196 million) earned in the
same period in 2002. Earnings per share increased to SAR22.80 (US$6.08) compared
to SAR18.39 (US$4.90) in the same period last year.

Customer deposits increased to SAR36.3 billion (US$9.7 billion) at 30 September
2003 from SAR34.2 billion (US$9.1 billion) at 30 September 2002.

Loans and advances to customers were higher at SAR24.1 billion (US$6.4 billion)
at 30 September 2003 from SAR19.3 billion (US$5.1 billion) at 30 September 2002.

The bank's investment portfolio totalled SAR19.6 billion (US$5.2 billion) at 30
September 2003, a small increase from SAR19.4 billion (US$5.2 billion) at 30
September 2002.

Geoff Calvert, managing director, said: "The Saudi British Bank has continued to
build on its solid first-half performance. Operating revenues have continued to
grow, particularly non-funds income which has benefited from buoyant local
equity markets. Our capital and liquidity positions remain strong.

"We continue to experience strong demand for all our banking services,
particularly in our Al Amanah Islamic services. Strong growth in both personal
and corporate lending has continued, while at the same time asset quality has
been maintained.

"The bank is proud to have received awards recently for the 'Best Bank' and the
'Best Equities House' in Saudi Arabia from Euromoney magazine. This success is a
reflection of our commitment to putting our customers first.


"We thank our customers for their support and our staff for their commitment and
contribution to the bank's success."


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