SABB bank, HSBC's Saudi affiliate, has said it had booked the highest quarterly net impairment charge in 2009 for credit losses during the fourth quarter, Reuters has reported. The lender set aside SR714.3m during the fourth-quarter to cover loan losses, which brings to SR1.5bn the total amount of provisions SABB made in 2009, compared to SR458.2m in 2008.
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