23 April 2026

Summary of Results for 1Q26:

• Total Operating Income: remained stable at SAR3,612 million (1Q 2025: SAR 3,620).
• Net Loans and Advances: increased by 10% year-on-year to SAR307 billion (1Q 2025: SAR279 billion).
• Customer Deposits: increased by 14% year-on-year to SAR331 billion (1Q 2025: SAR290 billion).
• Total Equity: increased by 11% year-on-year to SAR81 billion (1Q 2025: SAR73 billion).
• Net Profit After Zakat and Income: SAR2,086 million, a 2% decrease year-on-year from SAR2,135 million in 1Q 2025, due to the provisions taken. 

Riyadh, Saudi Arabia – 23 April 2026: Ms. Lubna S. Olayan, Chair of the Board of Directors of the Saudi Awwal Bank (SAB), announced today the Bank’s financial results for the period ended 31 March 2026.

SAB delivered a resilient performance in the first quarter of 2026, with total operating income remaining stable at SAR3,612 million, reflecting the strength of its diversified model and continued momentum across its core businesses. 

Net profit after Zakat and Income Tax was SAR2,086 million, down 2% 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.

Lubna Olayan, Chair of SAB, commented: “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% quarter-on-quarter growth and 10% year-on-year growth, despite a moderating market environment. Corporate banking also recorded strong momentum, with a healthy pipeline driving 3% growth quarter-on-quarter.

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 recognised through an upgrade in its MSCI ESG rating to ‘AA’, reflecting continued progress in embedding ESG principles across its operations. The bank also contributed SAR 24 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.

Ms. Olayan concluded: “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.”