Citibank created SAMBA, in which it took a 40% share, to take over its branches in Saudi Arabia, under a Royal Decree on February 12, 1980.

In 1985 SAMBA opened a branch in Istanbul that it closed after 1994, and at one point maintained a subsidiary in Geneva and a Representative office in Beirut.

Speed Cash Services: Samba Financial group is the first in the banking sector to have simplified the process of transferring money overseas just within hours, Akhter Alam (General Manager) was the pioneer for these services.

This name change followed Citibank's decision to pull out of Saudi Arabia and sell its then 20% stake to the General Organisation for Social Insurance.

Officially, this was done due to the anticipated relaxation of laws governing foreign banks' operations in the Kingdom.

[1][2] In March 2007, Samba Financial Group acquired 68% of Crescent Commercial Bank Limited (CCBL) in Pakistan.

[5][6] In August 2011, Samba made the list of top ten safest banks 2011 in the Middle East ranked at number four.

[2] After a partial nationalization program by the Saudi government, Citibank owned a 40% stake in the company in 1980 but sold its remaining interest in 2004.