SAB profit up 5% to SAR 4.3B in H1 2025; Q2 at SAR 2.1B

Saudi Awwal Bank (SAB) reported SAR 4.3 billion in net profit for H1 2025, a rise of 5% from SAR 4.1 billion in the corresponding period last year.

During the first six months of 2025, the Saudi-listed bank’s gross special commission income was higher by 8% year-on-year (YoY), primarily driven by growth in loan and investment portfolio.

Nevertheless, net special commission income grew by 4%, as special commission expenses soared for the same period, reflecting the growth in interbank borrowing and stronger special commission expense bearing term deposits.

In addition, the H1 205 gross operating income accelerated YoY, mainly due to the elevated net special commission income, gains on FVOCI debt instruments, FOREX income, and net other operating income.

However, this was partially offset by a decrease in income from FVSI financial instruments as well as lower net fees and commission income.

This came as SAB’s net provision for expected credit losses surged by SAR 165 million (86%) amid higher impairment charges on loans and off-balance sheet for the six-month period.

In Q2 2025, net earnings advanced by 5% to SAR 2.1 billion, from SAR 2.01 billion in Q2 2024.

This came as the bank’s gross special commission income grew 8% YoY, primarily driven by the increased loan volumes and investment portfolios. However, net special commission income was only higher by 4% during the three-month period.

Meanwhile, sequentially, SAB’s three-month bottom line fell 0.4% from SAR 2.13 billion in Q1 2025.

Shareholders' equity, with no minority interest and sukuk, amounted to SAR 64.1 billion by the end of June 30, 2025, up from SAR 58.8 billion in the prior-year period.

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