Saudi BritishBank-3 Qtr Rslts

HSBC Hldgs PLC
16 October 2000


                 THE SAUDI BRITISH BANK
         THIRD QUARTER 2000 RESULTS - HIGHLIGHTS

* Net profit of SAR560 million (US$149 million) for the
nine months ended 30 September 2000 - up SAR72 million
(US$19 million) or 14.8 per cent over the same period in
1999.

* Total assets of SAR43.7 billion (US$11.7 billion) at 30
September 2000 - up SAR5.4 billion (US$1.4 billion) or
14.2 per cent over 30 September 1999.

* Total value of the investment portfolio stood at SAR22.6
billion (US$6.0 billion) at 30 September 2000 - up SAR7.4
billion (US$2.0 billion) or 49.0 per cent over 30
September 1999.

* Loans and advances to customers of SAR13.8 billion
(US$3.7 billion) at 30 September 2000 - down SAR0.7
billion (US$0.2 billion) or 4.5 per cent compared to 30
September 1999.

* Customer deposits of SAR27.6 billion (US$7.3 billion) at
30 September 2000 - up SAR2.7 billion (US$0.7 billion) or
10.7 per cent over 30 September 1999.

Commentary

The Saudi British Bank (SABB) has recorded a net profit of
SAR560 million (US$149 million) for the nine months ended 30
September 2000. This represents an increase of 14.8 per cent
over the SAR488 million (US$130 million) earned in the same
period in 1999.

Customer deposits increased to SAR27.6 billion (US$7.3 billion)
from SAR24.9 billion (US$6.6 billion) at 30 September 1999 as
customers responded positively to enhanced products and
services.

Loans and advances to customers stood at SAR13.8 billion
(US$3.7 billion) at 30 September 2000 compared to SAR14.5
billion (US$3.9 billion) at 30 September 1999. The decline was
due to weak demand for new corporate borrowing and scheduled
repayments of existing loans. Personal lending continued to
grow at a steady pace.

The total value of SABB's investment portfolio increased to
SAR22.6 billion (US$6.0 billion) at 30 September 2000 from
SAR15.2 billion (US$4.0 billion) at 30 September 1999 as the
bank deployed available liquidity in a diversified investment
portfolio, taking advantage of market opportunities.

David Hodgkinson, managing director, said: 'Strong oil prices
boosted economic confidence and resulted in an improved climate
for investment.

'Our results for the nine months were in line with our
expectations and reflect a robust increase in operating
revenues from diversified income streams. This is encouraging
and we will continue to pursue a strategy aimed at achieving
steady growth. Equally, we look forward to prospects arising
from the government's liberalisation programme.

'Our continued aim is to deepen our customer relationships with
a full range of products and services to meet their
requirements. We thank our customers for their support and our
staff for their dedication during this period.'