Saadgroup Bank Europe Ltd was licensed to carry out banking activities as a credit institution on October 19, 2007. The Saad Group, a diversified group of companies with many years experience in investment, finance and banking, is headquartered in Al-Khobar, Saudi Arabia. The license of the bank was indefinitely suspended on August 17, 2009.
Saadgroup Bank Europe Ltd participates in the deposit guarantee scheme of Malta. This deposit guarantee scheme applies to most types of deposits made by natural persons (Maltese and foreign), legal entities (Maltese and foreign) and covers up to up to 100,000 EUR per bank per depositor. Saadgroup Bank Europe Ltd is a member of Depositor Compensation Scheme (DCS) and makes its contributions into it.
Saadgroup Bank Europe Ltd was headquartered in St Julian's.