SAB named best bank in Saudi Arabia for 2025 by Euromoney

10/07/2025 07:29 AST

Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia, has been named "Best Bank in Saudi Arabia for 2025" by Euromoney, recognizing the bank's strong financial performance, continued digital advancement, and commitment to social responsibility over the past year.

In 2024, SAB reported a net profit of SR8.07 billion, a 15% increase over the previous year. Operating income reached SR14 'million, supported by a 16% return on tangible equity, reflecting consistent performance and effective capital deployment.

Lending remained a key area of growth, with net loans and advances rising by 20% to reach SR259 billion, in line with SAB's strategy to support the financing needs of individuals and businesses across the Kingdom.

SAB continued to strengthen its digital capabilities, expanding its share of the digital payments market to 17.3%. The bank launched SAB 360°, an AI-powered platform offering clients real-time financial insights and streamlined onboarding processes through an enhanced KYC platform, reducing processing time by 40%. It also maintained its focus on convenience and security by being one of the early adopters of Samsung Pay in the local market.

In support of Vision 2030, SAB expanded its mortgage portfolio to SR35 billion, enhancing access to homeownership. The bank also progressed its ESG agenda, financing renewable energy projects generating a combined 4.5 GW of clean energy capacity, and introduced Shariah-compliant ESG investment solutions for private banking clients.

Tony Cripps, Managing Director & CEO of SAB, commented: "This award reflects the strength of our business model, the dedication of our people, and our commitment to leading with purpose. We are proud to play a key role in shaping the future of banking in the Kingdom and supporting national transformation."

The recognition reinforces SAB's position as a trusted financial partner, focused on delivering long-term value to its customers, shareholders, and the broader financial ecosystem in the Kingdom.