Saudi Hollandi changes name to ‘Alawwal Bank’

Saudi Hollandi Bank is changing its name to Alawwal Bank as part of a new corporate identity that will be rolled out over the next three months, according to a statement.
Alawwal, meaning “The First” in Arabic, references the bank’s status as the first bank to launch in the country in 1926.
Saudi Hollandi said it would launch its new corporate identity on Sunday in its branches across the country and its electronic banking channels.
The process will take three months to be implemented, a bank statement said.
Separately, Saudi Hollandi said that it had appointed former RBS banker Soren Nikolajsen as its managing director, starting Jan. 1, 2017. He takes over from Bernd van Linder.
The bank had said in October Linde would leave the role on Dec. 31, when his contract expired.