Saudi National Bank Achieves Record-Breaking Financial Results in Q1 2025
The Saudi National Bank (SNB), the largest bank in Saudi Arabia, has reported its highest-ever quarterly net income of SR6.0 billion for the first quarter of 2025. This represents a significant 19% year-on-year growth compared to Q1 2024.
Exceptional Financial Performance Driven by Strategic Execution
SNB’s exceptional financial results are a result of successful execution of the bank’s strategy. The bank’s total operating income saw an 8% increase, reaching SR9.6 billion. This growth was supported by a 5% rise in net special commission income and a 16% increase in fee and other income.
Strong Growth Across Key Financial Metrics
SNB’s total assets grew to SR1.2 trillion, reflecting a 9% increase compared to the previous year and a 6% increase compared to the previous quarter. The bank’s investment portfolio also saw a 13% year-on-year growth.
The growth in the financing portfolio was primarily driven by Wholesale Financing and Retail Mortgages, which expanded by 13% year-on-year. This growth was funded through Customers’ deposits, which reached SR626.4 billion for the period.
Chairman and CEO Speak on Milestone Achievement
Saeed Alghamdi, Chairman of SNB, expressed pride in the bank’s performance, stating that achieving the highest-ever quarterly profit is a testament to their disciplined strategy. Tareq AlSadhan, Chief Executive Officer of SNB, highlighted the bank’s outstanding financial performance in Q1 2025, driven by growth in operating income and strategic priorities.
AlSadhan emphasized the bank’s commitment to sustainable value creation and supporting Saudi Vision 2030. He confirmed SNB’s strong financial position and its role in contributing to the Kingdom’s economic development.
Overall, SNB’s record-breaking financial results in Q1 2025 showcase the bank’s strategic focus, operational excellence, and commitment to delivering long-term value to shareholders and the broader business community.
