Saudi Awwal Bank (1060)

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News

1 July 11:28 AM SAB intends to issue SAR-denominated Tier 1 Sukuk

Riyadh - Mubasher: Saudi Awwal Bank (SAB) plans to issue SAR-denominated Tier 1 Sukuk through a private placement in Saudi Arabia, according to a bourse filing. In line with its Additional Tier 1 Sukuk issuance program, the offering aims to …

Companies Investments

27 April 09:03 AM SAB’s net profits up 4.5% in Q1-25; assets hit SAR 425.7bn

Riyadh – Mubasher: Saudi Awwal Bank (SAB) generated net profits worth SAR 2.13 billion in the first quarter (Q1) of 2025, an annual growth of 4.50% from SAR 2.04 billion. The earnings per share (EPS) hit SAR 0.98 as of 31 March 2025, up …

Banking and Finance

22 April 09:56 AM First Mills secures SAR 630m loan from SAB

Riyadh – Mubasher:  First Milling Company (First Mills) penned a long-term sharia-compliant bank facility agreement worth SAR 630 million with the Saudi Awwal Bank (SAB) on 20 April 2025. First Mills will use the loan to support its commercial and …

Banking and Finance

9 April 11:54 AM Telr, SAB forge partnership to bolster Saudi Arabia’s digital landscape

Riyadh – Mubasher: Telr has partnered with Saudi Awwal Bank (SAB) to enhance e-commerce payments and boost merchant efficiency, according to a press release. The partnership aligns with Saudi Arabia’s Vision 2030 to achieve a cashless economy by …

Companies Investments

24 February 12:22 AM Sipchem’s Acrylic Complex enters into SAR 1.3bn refinancing agreements with listed banks

 Riyadh – Mubasher: Sahara International Petrochemical Company (Sipchem) announced that its Acrylic Complex investee signed refinancing agreements with a consortium of local banks for an amount worth SAR 1.30 billion. The financing duration has …

Banking and Finance

5 February 07:36 PM SAB to distribute 10% of capital as dividends for H2-24

Riyadh – Mubasher: The board members of Saudi Awwal Bank (SAB) proposed cash dividends valued at SAR 2.05 billion, equivalent to 10% of its capital, for the second half (H2) of 2024. SAB will pay out a dividend after Zakat of SAR 1 per share for …

Board of Directors

5 February 05:26 PM Sumou Real Estate secures SAR 130m loan from SAB

Riyadh – Mubasher: Sumou Real Estate Company inked a credit facilities agreement with Saudi Awwal Bank (SAB) at an amount of SAR 130 million. The financing is valid for 48 months starting from 4 February 2025, according to a bourse filing. The …

Companies Investments

3 February 07:31 PM Al Arabia inks SAR 972m facility deal with SAB

Riyadh Mubasher: Arabian Contracting Services Company (Al Arabia) penned a long-term bank facility agreement valued at SAR 972 million with Saudi Awwal Bank (SAB) on 3 February. The company aims to refinance the acquisition loan to Faden Media to …

Companies Investments

2 February 05:53 PM SAB posts 15% higher profits in 2024

Riyadh – Mubasher: Saudi Awwal Bank (SAB) logged net profits valued at SAR 8.07 billion in 2024, up 15.25% year-on-year (YoY) from SAR 7 billion. The clients' deposits hit SAR 267.01 billion at the end of December 2024, an annual rise of 5.35% …

Banking and Finance

5 January 10:09 PM TASI expected to trade between 11,300 to 13,300pts in 2025 – Report

Riyadh – Mubasher: SNB Capital, a regional financial institution, recently projected in a report that the benchmark All Share Index (TASI) of the Saudi Exchange (Tadawul) would trade between 11,300 to 13,300 points (pts) in 2025, reflecting a …

Trading Activities

1 December 2024 04:20 PM SAB, HSBC Global Services pen SAR 190.5m deal

Riyadh – Mubasher: Saudi Awwal Bank (SAB) inked a contract with HSBC Global Services (UK) Limited to replace the current global and receivable finance system with a new trade system. The two entities penned the agreement, on 28 November 2024, at a …

Banking and Finance

25 November 2024 03:31 PM Marafiq to reschedule SAR 5.9bn loan from 3 lenders

Riyadh – Mubasher: The Power and Water Utility Company for Jubail and Yanbu (Marafiq) signed bilateral agreements to reschedule its existing Islamic loans at a combined value of SAR 5.90 billion. The deal includes extending the previously agreed …

Banking and Finance

30 October 2024 08:44 AM SAB’s net profits exceed SAR 5.9bn in 9M-24

Riyadh – Mubasher: Saudi Awwal Bank (SAB) posted 15.52% higher net profits at SAR 5.94 billion in the first nine months (9M) of 2024, compared to SAR 5.14 billion in 9M-23. Earnings per share (EPS) jumped to SAR 2.78 in 9M-24 from SAR 2.50 a year …

Financial Results

26 September 2024 10:38 AM PayerMax, SAB join forces to support digital payments

Riyadh – Mubasher: PayerMax, a leading global provider of payment solutions, entered into a strategic partnership with Saudi Awwal Bank (SAB), according to a press release. The two entities aim to redefine the digital payments landscape and …

Companies Investments

18 September 2024 09:17 AM CATRION secures SAR 221m financing from SAB

Riyadh – Mubasher: CATRION Catering Holding Company penned a Sharia-compliant credit facility agreement with Saudi Awwal Bank (SAB) at an amount of SAR 221 million The company obtained the funding through its subsidiary CATRION Catering Services …

Companies Investments

6 August 2024 02:41 PM SAB reports 22.5% increase in H1-24 profits

Riyadh – Mubasher: Saudi Awwal Bank (SAB) registered an annual growth of 22.54% in net profit to SAR 4.06 billion during the first half (H1) of 2024, compared to SAR 3.31 billion. Earnings per share (EPS) increased to SAR 1.90 in H1-24 from SAR …

Financial Results

24 July 2024 11:30 AM Aljouf Cement reschedules SAR 154m Islamic facilities with Saudi Awwal Bank

Riyadh – Mubasher: Aljouf Cement Company has signed an agreement with Saudi Awwal Bank (SAB) to reschedule SAR 154.45 million Islamic facilities to support its operations. The company signed the agreement on 24 July 2024 for seven years ending in …

Banking and Finance

22 July 2024 05:42 PM MIS obtains SAR 340m funding from SAB

Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) secured a Sharia-compliant facility worth SAR 340.26 million from Saudi Awwal Bank (SAB) on 17 July 2024 and signed the funding agreement on the 22nd. MIS will use the secured amount …

Banking and Finance

15 July 2024 11:09 AM ADES Holding secures $3bn dual-currency debt facility from local, regional listed entities

Riyadh – Mubasher: Oil and gas drilling services provider ADES Holding Company has amended its existing syndicated facility, obtaining an additional $3 billion multi-tranche dual-currency financing on 14 July 2024. The majority of existing lenders …

Global Economy

5 May 2024 06:48 PM SAB’s net profits surpass SAR 2bn in Q1-24

Riyadh – Mubasher: Saudi Awwal Bank (SAB) recorded a 15.75% year-on-year (YoY) growth in net profit to SAR 2.04 billion during the first quarter (Q1) of 2024, compared with SAR 1.76 billion. On a quarterly basis, SAB’s net profits in Q1-24 were …

Financial Results

15 April 2024 05:50 PM 2P Perfect Presentation unveils SAR 80m bank facility with SAB

Riyadh – Mubasher: Perfect Presentation for Commercial Services (2P Perfect Presentation) announced the increase and renewal of a Sharia-compliant bank facility with Saudi Awwal Bank (SAB) as per the agreement signed on 15 April 2024. The funding …

Banking and Finance

4 March 2024 11:31 AM Red Sea International secures SAR 196m facility from SAB

Riyadh – Mubasher: The Fundamental Installation for Electric Work Company (First Fix), a subsidiary of Red Sea International Company increased its loan from Saudi Awwal Bank (SAB) to SAR 196.10 million, according to a bourse filing. The unit …

Banking and Finance

15 February 2024 05:48 PM ACWA Power secures $2.3bn financing for 3 solar power projects

Mubasher: ACWA Power Company secured a loan worth $2.30 billion (SAR 8.60 billion) for three of its solar power projects on 14 February. The funding will be provided over 27.75 years by a consortium of local, regional, and international banks, …

Banking and Finance

11 February 2024 03:46 PM SAB’s board eyes over SAR 2bn dividends for H2-23

Riyadh – Mubasher: Saudi Awwal Bank (SAB) announced the board’s recommendation to disburse cash dividends worth SAR 2.01 billion for the second half (H2) of 2023, according to a bourse disclosure. The lender will distribute a dividend after Zakat …

Banking and Finance

8 February 2024 03:37 PM SAB’s net profits leap to SAR 7bn in 2023

Riyadh – Mubasher: Saudi Awwal Bank (SAB) recorded an annual hike of 45.09% in net profit to SAR 7 billion in 2023, compared to SAR 4.82 billion. The lender witnessed 12.44% year-on-year (YoY) higher clients’ deposits at SAR 240.94 billion as of …

Financial Results