Saudi Awwal Bank Wins Best Bank in Saudi Arabia Award for 2025
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Saudi Awwal Bank (SAB), one of the top banks in Saudi Arabia, has been awarded the title of “Best Bank in Saudi Arabia for 2025” by Euromoney. This award was given in recognition of SAB’s strong financial growth, its use of modern digital tools, and its commitment to social causes over the past year.
Saudi Awwal Bank (SAB; Arabic: البنك السعودي الأول) is a Riyadh-based Saudi joint stock company in which global banking group HSBC owns a minority stake. The bank traces its origins to the British Bank of the Middle East which was acquired by HSBC in 1959. In response to restrictions on foreign ownership of banks in Saudi Arabia, Saudi Arab British Bank (SABB) was created in 1978 to manage HSBC branches and assets in the country. SAB is one of the five largest Saudi banks by deposits, and has over eighty branches across Saudi Arabia and one branch in London, England.
In 2024, SAB earned a net profit of 8.07 billion Saudi Riyals (about $2.15 billion), which is a 15% increase from the previous year. The bank’s total income from its operations was 14 million Riyals. It also achieved a 16% return on its tangible equity, showing how well the bank managed its capital and resources.
One of the bank’s biggest growth areas was lending. SAB increased its total loans and advances by 20%, reaching 259 billion Riyals. This growth supports both individuals and businesses with their financial needs, in line with the bank’s goal of boosting the Kingdom’s economy.
SAB has also been focusing on improving its digital services. It now holds a 17.3% share of the digital payments market. One of its major innovations is the launch of SAB 360°, a platform powered by Artificial Intelligence (AI). This platform gives customers real-time financial insights and speeds up the Know Your Customer (KYC) onboarding process, cutting processing time by 40%. SAB was also among the first banks in Saudi Arabia to adopt Samsung Pay, offering safer and easier payment options.
As part of Saudi Arabia’s Vision 2030 goals, SAB expanded its mortgage lending to 35 billion Riyals, helping more people in the Kingdom buy homes. It also supported green initiatives by funding renewable energy projects that can generate 4.5 gigawatts (GW) of clean energy. For its wealthy clients, SAB introduced Islamic-compliant investment options that also support environmental, social, and governance (ESG) values.
Tony Cripps, the CEO of SAB, said that this award reflects the bank’s strong business strategy, the hard work of its employees, and its mission to serve with purpose. He added that SAB is proud to help shape the future of banking in Saudi Arabia and support the country’s national development.
About SAB
| Company type | Public |
|---|---|
| Industry | Finance |
| Founded | January 21, 1978; 47 years ago |
| Headquarters | Riyadh, Saudi Arabia |
| Number of locations | 81 |
| Area served | Saudi Arabia United Kingdom |
| Products | Financial services |