Saudi Awwal Bank (SAB) Reports Strong Financial Results for Q1 2025
In a bold move, Lubna S. Olayan, the Chair of the Board of Directors of Saudi Awwal Bank (SAB), unveiled the bank’s financial results for the period ending 31 March, 2025.
With a touch of resilience and determination, SAB showcased a net profit after zakat and income tax of SR2,135 million for the first quarter of 2025, marking a remarkable 5% year-on-year increase. Total operating income also experienced a notable surge of 5% to reach SR3,620 million.
Expressing her optimism, Lubna Olayan, Chair of SAB, emphasized, “Despite facing challenging global macroeconomic conditions, we have unwavering faith in Saudi Arabia’s growth narrative and take immense pride in SAB’s contribution towards fostering growth through disciplined and quality-focused funding strategies.”
SAB celebrated an impressive 8% growth in total loans quarter-on-quarter, fueled by a robust 6% surge in retail loans and an 8% increase in corporate activities.
Net loans and advances soared to SR279 billion, reflecting a substantial 22% growth from SR229 billion in the first quarter of 2024. Furthermore, customer deposits witnessed a surge to SR290 billion, up 9% from SR266 billion in the same period of the previous year. The bank’s total equity also surged by 14%, climbing from SR63 billion in 1Q24 to SR72 billion. Despite a challenging interest rate environment, SAB’s net special commission income continued to flourish, showcasing the bank’s enhanced resilience and operational prowess.
With a sense of pride, Ms. Olayan highlighted, “We take immense pride in being the preferred partner for globally-minded clients, playing a pivotal role in supporting the influx of cross-border customers into the Kingdom.”
Furthermore, Ms. Olayan articulated, “We have effectively managed costs relative to income growth, maintaining positive jaws. Our asset quality remains robust, and the robust loan growth has been complemented by a sturdy deposit base, ensuring a healthy funding structure and a resilient capital position, culminating in a return on tangible equity of 15.8%.”
Moreover, SAB witnessed an exceptional quarter in corporate loan originations, diversifying across key sectors. The mortgage business also thrived, achieving its best quarter since 1Q24, with a closing mortgage portfolio of SR38 billion, marking a twofold increase since the inception of the strategy.
Recognizing the bank’s efforts to integrate sustainability as a core strategic pillar across operations, SAB received accolades, including the “Sustainability Program of the Year 2024” at the Saudi Capital Markets Forum, making it the first financial institution in the Kingdom to receive such recognition. The bank was also honored by Global Finance as the “Best Trade Finance Provider” for the fifth consecutive year.
Ms. Olayan concluded, “Our results truly embody our strategic direction, characterized by robust revenue growth and stellar loan performance. As we navigate through the dynamic global landscape, our dedication to innovation and sustainability, coupled with our strategic partnership with HSBC, positions us favorably to seize future opportunities.”
Lastly, Ms. Olayan expressed gratitude towards the board members, senior management team, employees, and regulators — the Saudi Central Bank and the Capital Market Authority — for their unwavering support and guidance.
Established over 90 years ago, Saudi Awwal Bank (SAB) stands tall as one of the largest banks in the Kingdom, actively contributing to Saudi Arabia’s economic progress and social advancement.
SAB takes pride in being a leading corporate and institutional international bank in the Kingdom, offering top-notch Wealth & Personal Banking services. The bank excels in areas such as trade finance, foreign exchange, debt wholesale banking, digital service innovation, and ESG practices within Saudi Arabia and the broader region.
With a paid-up capital of SR 20.5 billion, SAB operates under the regulatory oversight of the Saudi Central Bank and is a proud partner of the HSBC Group, following its legal merger with Alawwal Bank on 14th March 2021, previously known as the Saudi British Bank (SABB).
