Lubna S. Olayan, chair of the board of directors of Saudi Awwal Bank, has announced the bank’s financial results for the nine months ending Sept. 30.
SAB recorded a net profit after zakat and income tax of SR6.6 billion ($1.75 billion) for the period, representing an increase of 3 percent compared with the corresponding period in 2025. The total operating income increased by 1 percent year on year to SR11.2 billion, while the third-quarter revenue rose by 5 percent to SR3.8 billion compared with the previous quarter, reflecting improved sequential momentum.
Against a backdrop of evolving market dynamics and regional developments, SAB continued to deliver against its strategic priorities, maintaining balanced growth across its businesses. This performance was supported by disciplined capital deployment, prudent risk management and a continued focus on solid returns. The net loans and advances increased by 11 percent year on year to SR325 billion, broadly in line with the bank’s plans and guidance.
“Our performance over the first nine months of 2026 reflects the resilience of SAB’s diversified business model and the strength of our long-term strategy,” Olayan said. “We have continued to grow our business, deepen customer relationships and deliver solid returns while navigating an evolving external environment. Our commitment to responsible growth and sound financial management remains central to creating lasting value for our shareholders and supporting the Kingdom’s economic ambitions.”
The bank’s margin performance improved during the third quarter, supported by disciplined asset repricing and stable funding costs. The quarterly operating income and pre-provision profit also increased compared with the previous quarter, demonstrating positive sequential momentum and the bank’s continued focus on operating performance. This led to SAB reporting a return on tangible equity of 14.2 percent for the first nine months of the year, almost double the levels of returns the bank generated at the start of its strategy in 2021.
SAB’s trade business remained firm, underpinned by its strong corporate banking business and longstanding position in trade and cross-border banking. These capabilities continue to reinforce the bank’s role in facilitating business activity and supporting the Kingdom’s growing international economic connectivity.
The asset quality remained resilient, with credit costs increasing during the nine-month period, as a reflection of heightened pressures. SAB continued to apply its established prudent forward-looking approach to provisioning, considering the evolving regional environment, supported by disciplined risk management and a continued focus on balance sheet strength.
Olayan added: “Our priorities remain clear: to pursue growth responsibly, deploy capital selectively and maintain a strong and resilient balance sheet. The improvement in margins and quarterly operating performance is encouraging and demonstrates the effectiveness of our strategic execution. We remain well positioned to respond to changing market conditions and pursue opportunities that support sustainable growth.”
During the third quarter, SAB continued to advance its customer proposition through strategic partnerships and targeted innovation. The bank introduced the Kingdom’s first Qatar Airways Privilege Club co-branded credit card, launched a dedicated e-commerce credit card in partnership with noon, and enhanced international transfer capabilities through its collaboration with Swift. Together, these initiatives reflect SAB’s commitment to delivering differentiated banking experiences, strengthening its competitive position and responding to the evolving needs of its customers.
SAB also continued to support its customers and employees amid the evolving operating environment, maintaining service continuity, prioritizing the well-being of its people and ensuring reliable access to banking services.
“As we mark 100 years of banking heritage in the Kingdom, we remain firmly focused on the future and the role SAB will continue to play supporting Saudi Arabia’s economic development,” Olayan said. “On behalf of the board, I extend my sincere appreciation to our customers for their continued trust and to our colleagues for their dedication and professionalism. We also thank the Saudi Central Bank, the Capital Market Authority and our strategic partner, HSBC, for their continued support.”