On 9 August 1977, Bank Pembangunan Sabah Berhad was incorporated by the State Government of Sabah, as a public limited company under the Companies Act, 1965. The following year, it changed its name to the present Sabah Development Bank Berhad (SDB). It was granted with specific consent from the Federal Ministry of Finance to use the word ‘Bank’ in its name.
SDB’s logo is inspired by the Chinese character 兆 (zhào) meaning “trillion”. The stylized design integrates elements of Sabah’s rich cultural heritage, including gongs and beads, which are symbolic of the state’s ethnic traditions. The two outward-reaching arms represent continuous growth and resilience, while the overall emblem reflects SDB’s financial strength and stability.
The establishment of SDB was driven by the State Government’s vision to create a network of responsive and capable financial institutions to support Sabah’s economic development. Operations began in June 1978 at Wisma Sabah, Kota Kinabalu, under the leadership of Tan Sri (then Datuk) Hj Abdul Majid Khan as the first Chairman and Datuk Richard W. Maning as the Managing Director and CEO. In 1981, SDB moved office to the Berjaya Headquarters Building in Karamunsing before relocating to Wisma Tun Fuad Stephens four years later. In July 2024, SDB moved into its current office premise at Plaza Shell.
Throughout its history, SDB has adapted to changes in the financial landscape. In 1996, it was privatized through acquisition by Suria Capital Holdings Berhad. In 1999, the State Government reacquired SDB to revitalize its role as a key financial intermediary. As of 5 September 2023, SDB was placed under the Chief Minister, the State of Sabah with Ministry of Finance Sabah having direct supervision of the Bank.
In the second half of 2023, SDB embarked on a Transformation Journey, with the mandate by State Government to finance strategic development projects in Sabah predominantly in water, power, and infrastructure. Guided by its Board of Directors and management team, SDB aligns its operations with the State’s development priorities.
SDB upholds the highest standards of corporate governance and professionalism in delivering its services, reinforcing its role as a trusted financial partner in Sabah’s development.
