Ms. Lubna S. Olayan, Chair of the Board of Directors of the Saudi Awwal Bank (SAB), today announced the Bank’s financial results for the six months ended 30 June 2026.
SAB recorded a net profit after Zakat and Income Tax of SAR 4,417 million for the period ended 30 June 2026, representing an increase of 4% compared to the same period in 2025. Total operating income remained resilient at SAR 7,275 million down only by 1% compared to the same period of 2025, and second quarter revenue of SAR 3,663 million increased 1% on the trailing quarter.
Against a backdrop of continued market uncertainty and a more measured lending environment, SAB delivered resilient financial performance underpinned by disciplined execution, sustained loan growth, resilient fee income and a strong balance sheet. The Bank continued to expand its customer franchise while maintaining strong asset quality and capital strength.
Commenting on the results, Ms. Lubna S. Olayan, Chair of the Board of Directors, said: “Our first-half performance reflects the resilience and diversification of our of our business model and the disciplined execution of our long-term strategy. While operating conditions remained measured across the sector, we have continued to grow our lending portfolio, deepen customer relationships and support clients across strategic sectors driving Saudi Arabia’s economic transformation.”
She added: “We remain focused on creating sustainable long-term value for our shareholders while maintaining a resilient balance sheet, supporting our customers and contributing to the Kingdom’s Vision 2030. “
During the second quarter, SAB maintained resilient margins, delivered a rebound in fee income, continued to record strong loan growth, preserved the high quality of its credit portfolio, and generated strong quarter-on-quarter profit growth. Customer deposits also grew, supporting further balance sheet expansion and reinforcing the Bank’s strong liquidity position.
While overall market lending growth has moderated, SAB continues to see a healthy pipeline of opportunities and remains confident in the long-term outlook for credit demand.
Mortgage lending continued to perform well during the period despite a more moderate market environment, reflecting SAB’s continued support for customers’ home ownership ambitions and the Kingdom’s housing objectives.
The Bank continued to support Saudi Arabia’s economic transformation through landmark financing across strategic sectors including infrastructure, healthcare, housing and sustainability, reinforcing its role as a trusted financial partner in delivering Vision 2030.
SAB also continued to strengthen its position as one of the Kingdom’s leading innovation-led financial institutions, receiving multiple international recognitions during the period, including two Global Banking Awards and two Global Finance Innovators Awards. The Bank further advanced its sustainability agenda by joining the Partnership for Carbon Accounting Financials (PCAF), supporting greater transparency and contributing to Saudi Arabia’s transition towards a more sustainable economy.
Ms. Olayan concluded: “On behalf of the Board, I extend my sincere appreciation to our customers for their continued trust and to our people for their unwavering commitment. We also thank our regulators, our strategic partner HSBC, the Saudi Central Bank, and the Capital Market Authority as we build on our progress and create long-term value for all our stakeholders.”
Source: Riyadh Daily