Lubna S. Olayan, chair of the board of directors of the Saudi Awwal Bank, has announced the bank’s financial results for the period ending March 31.
SAB delivered a resilient performance in the first quarter of 2026, with the total operating income remaining stable at SR3.6 billion ($960 million), reflecting the strength of its diversified model and continued momentum across its core businesses.
The net profit after zakat and income tax was SR2.1 billion, down 2 percent year on year, reflecting a prudent and forward-looking approach to risk management. This approach reinforces the strength and quality of the bank’s balance sheet and positions SAB to navigate with confidence the current uncertain and evolving market conditions due to the geopolitical environment.
Olayan said: “The bank’s performance in the first quarter highlights the strength of our diversified business model, with continued growth across both retail and corporate segments, supported by solid liquidity and a well-diversified funding profile.
“Our liquidity position remains a key strength, with customer deposits increasing in line with our strategic priorities, supporting continued lending growth and balance sheet expansion.
“We remain focused on preserving a fortress balance sheet, underpinned by strong capital, sound liquidity, and a disciplined approach to risk management. This ensures we remain well-placed to navigate evolving market conditions while continuing to support our customers and the broader economy.”
SAB continued to deliver growth across its core businesses. In retail banking, the bank achieved 2 percent quarter-on-quarter growth and 10 percent year-on-year growth, despite a moderating market environment. Corporate banking also recorded strong momentum, with a healthy pipeline driving 3 percent growth quarter on quarter.
The fee income declined during the period, reflecting the impact of recent regulatory changes affecting consumer fees. This was partially offset by gains from the bank’s investment portfolio, reflecting active balance sheet management and diversified revenue streams.
SAB’s commitment to sustainability was recognized through an upgrade in its MSCI ESG rating to “AA,” reflecting continued progress in embedding ESG principles across its operations. The bank also contributed SR24 million to community development programs across the Kingdom, guided by its core values and commitment to delivering meaningful impact.
The bank received several prestigious recognitions, including being named Best Bank for ESG in Saudi Arabia by Euromoney for the third consecutive year, alongside Best Bank in Saudi Arabia 2025, underscoring its leadership in sustainability and overall performance.
SAB remains well-positioned to deliver sustainable growth, supported by a strong capital base, robust liquidity, and a clear strategic roadmap aligned with Saudi Arabia’s Vision 2030. The bank will continue to focus on disciplined execution, customer-centric innovation, and prudent risk management to navigate evolving market conditions.
Olayan said: “On behalf of the board, I would like to thank our customers for their trust and our people for their continued dedication. We also appreciate the ongoing support of our regulators and our strategic partner HSBC, as well as the Saudi Central Bank and the Capital Market Authority, as we continue to build on our progress.”
