Saudi Brit.Bnk 3rd Qtr Rslts

HSBC HOLDINGS PLC
12 October 1999

                 THE SAUDI BRITISH BANK
         THIRD QUARTER 1999 RESULTS - HIGHLIGHTS

* Net profit of SAR488 million (US$130 million) for the
  nine months ended 30 September 1999 - up SAR24 million
  (US$6 million) or 5.1 per cent over the same period in
  1998.

* Total assets of SAR38.3 billion (US$10.2 billion) at 30
  September 1999 - up SAR2.4 billion (US$0.6 billion) or
  6.7 per cent over 30 September 1998.

* Loans and advances to customers of SAR14.5 billion
  (US$3.9 billion) at 30 September 1999 - up SAR1.9 billion
  (US$0.5 billion) or 14.9 per cent over 30 September 1998.

* Customer deposits of SAR24.9 billion (US$6.6 billion) at
  30 September 1999 - up SAR2.0 billion (US$0.5 billion) or
  8.6 per cent over 30 September 1998.

Commentary
The Saudi British Bank (SABB) has recorded a net profit
of SAR488 million (US$130 million) for the nine months
ended 30 September 1999. This represents an increase of
5.1 per cent over the SAR464 million (US$124 million)
earned in the same period in 1998.

Customer deposits increased to SAR24.9 billion (US$6.6
billion) from SAR22.9 billion (US$6.1 billion) at 
30 September 1998 as liquidity improved in the local market.

Increased customer demand resulted in growth in loans and
advances, particularly in the area of consumer lending.
Loans and advances stood at SAR14.5 billion (US$3.9
billion) at 30 September 1999 compared to SAR12.6 billion
(US$3.4 billion) at 30 September 1998.

SABB continued to strengthen its overall provisioning. As
a result, the charge for provisions for possible credit
losses increased to SAR117 million (US$31 million) for
the nine months ended 30 September 1999 from SAR80
million (US$21 million) for the same period last year.

Sandy Flockhart, Managing Director, said: 'Results for
the period are in line with our expectations. We continue
to work towards deepening our customer relationships by
ensuring that the range of products and quality of
service meets their requirements.'