Saudi Awwal Financial institution (SAB), one of many main banks within the Kingdom of Saudi Arabia, has been named “Finest Financial institution in Saudi Arabia for 2025” by Euromoney, recognizing the financial institution’s robust monetary efficiency, continued digital development, and dedication to social accountability over the previous yr.
In 2024, SAB reported a web revenue of SR8.07 billion, a 15% enhance over the earlier yr. Working revenue reached SR14 ‘million, supported by a 16% return on tangible fairness, reflecting constant efficiency and efficient capital deployment.
Lending remained a key space of progress, with web loans and advances rising by 20% to achieve SR259 billion, consistent with SAB’s technique to help the financing wants of people and companies throughout the Kingdom.
SAB continued to strengthen its digital capabilities, increasing its share of the digital funds market to 17.3%. The financial institution launched SAB 360°, an AI-powered platform providing shoppers real-time monetary insights and streamlined onboarding processes via an enhanced KYC platform, decreasing processing time by 40%. It additionally maintained its deal with comfort and safety by being one of many early adopters of Samsung Pay within the native market.
In help of Imaginative and prescient 2030, SAB expanded its mortgage portfolio to SR35 billion, enhancing entry to homeownership. The financial institution additionally progressed its ESG agenda, financing renewable vitality initiatives producing a mixed 4.5 GW of unpolluted vitality capability, and launched Shariah-compliant ESG funding options for personal banking shoppers.
Tony Cripps, Managing Director & CEO of SAB, commented: “This award displays the power of our enterprise mannequin, the dedication of our folks, and our dedication to main with goal. We’re proud to play a key position in shaping the way forward for banking within the Kingdom and supporting nationwide transformation.”
The popularity reinforces SAB’s place as a trusted monetary associate, centered on delivering long-term worth to its clients, shareholders, and the broader monetary ecosystem within the Kingdom.
