Saudi Awwal Bank

What Saudi Awwal Bank does

Saudi Awwal Bank (SAB) is a publicly listed Saudi joint stock company on the Saudi Exchange (Tadawul, ticker SAB) and the Kingdom's first bank, founded in 1926 and approaching its centenary in 2026. Headquartered in Riyadh and regulated by the Saudi Central Bank (SAMA) under Council of Ministers Resolution No. 198 and Royal Decree No. M/4, the bank operates a fully Shariah-compliant product architecture — Murabaha, Tawarruq, Mudarabah, Ijarah, and Wakalah — across Personal (Premier, Advance, General, International), SME, Corporate, and Private Banking segments, with wealth management and brokerage delivered through wholly-owned subsidiary SAB Invest.

The bank's core technology stack is built on its SAB Mobile, SAB Online, SAB iCorp, and SAB Connect B2B digital channels, integrated with national payment rails (mada Pay, SADAD, SARIE) and HSBC's cross-border network via SAB Global View and Global Transfer (16+ countries, 29 currencies). SAB is the first bank globally to execute a blockchain-based Islamic repurchase agreement on Oumla's private permissioned blockchain (nine transactions, August 2025), with smart contracts embedding Shariah compliance directly into settlement, and holds a 7-Star CinOrg Innovation Accreditation (Leader) from the Global Innovation Institute — the first Middle East bank to do so. Its card portfolio spans Visa, Mastercard, Amex, and mada networks, anchored by the ICSAB+ loyalty programme, AQSAT installment plans, the AQSAT BNPL Credit Card, and the SAB Umlaty multi-currency travel card.

SAB's revenue model combines net financing income from SAR 299 billion in net loans (+15% YoY in 2025), funded by SAR 323 billion in customer deposits (+21% YoY), with fee and commission income from trade finance (six consecutive years as Global Finance's Best Trade Finance Provider in Saudi Arabia), cards and payments, FX/remittance, wealth management (SAB Invest), and lead-arranger/bookrunner fees on syndicated Murabaha facilities. In FY2025 the bank generated SAR 14,724 million in total operating income (+5% YoY) and SAR 8,452 million in net profit (+5% YoY), issued USD 1.9 billion in green bonds exceeding its SAR 45 billion sustainable finance ambition, and operates a large direct-to-consumer distribution network spanning physical branches, ATMs, self-service machines, phone banking, mobile, online, and a 24/7 AI-powered digital assistant.

Name

Saudi Awwal Bank

Legal name

Saudi Awwal Bank (a listed joint stock company, incorporated in the Kingdom of Saudi Arabia)

Website

https://sab.com

Company type

Public

Founded year

1926

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Saudi Awwal Bank (SAB), founded in 1926 as Saudi Arabia's first bank, is a publicly listed Shariah-compliant bank serving retail, SME, corporate, and private banking clients across Saudi Arabia with HSBC-enabled cross-border connectivity and tokenized Islamic finance capabilities.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (522110), Savings Institutions and Other Depository Credit Intermediation (52218), Investment Banking and Securities Intermediation (52315), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), Mortgage Bankers & Loan Correspondents (6162), Security Brokers, Dealers & Flotation Companies (6211), Asset-Backed Securities (6189)

akta.pro primary industry

Islamic Corporate Banking (FSABAGAC)

akta.pro secondary industries

Islamic Retail Banking (FSABAGAA), Islamic SME & Commercial Banking (FSABAGAB), Islamic Investment Banking & Capital Markets Services (FSABAGAG), Islamic Private Banking & Wealth (FSABAGAD)

Keywords

• Retail banking services
• Corporate banking solutions
• Islamic finance products
• Trade finance services
• Wealth management advisory

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Net Interest / Financing Income: Driven by net loans and advances of SR 299 billion (up 15% YoY) and Shariah-compliant financing products including Murabaha, Tawarruq, and Islamic credit facilities across corporate, SME, and retail segments.
2. Customer Deposits Funding Spread: Customer deposits of SR 323 billion (up 21% YoY) provide low-cost funding base supporting lending and investment activities in Shariah-compliant assets.
3. Trade Finance Fees: Revenue from import services, export services, guarantees, structured trade solutions, Islamic trade solutions, cash-backed letters of credit, and trade/supply chain e-solutions; recognized as the Best Trade Finance Provider in Saudi Arabia for six consecutive years.
4. Card and Payment Fees: Recurring revenue from credit cards (Premier, AlFursan Black, Emirates Infinite, Visa Signature, Visa Platinum, Cashback, Advance), debit cards (physical and virtual), AQSAT installment plans, ICSAB+ loyalty, lounge access, valet services, airport transfers, and card cross-sell fees.
5. Wealth Management & Investment Banking (SAB Invest): Fees and commissions from SAB Invest wealth management, brokerage, asset management (including Green Deposit Accounts and Commodity Investment Accounts), and a SAR 1+ billion financing arranged for the Capital Gate real estate fund.
6. FX & International Remittance: Revenue from foreign exchange transactions across 29 currencies, international remittance services, and cross-border transfers via SAB Global Transfer integrated with HSBC.
7. Syndicated & Corporate Financing Arrangement Fees: Lead arranger / bookrunner / lender fees from multi-bank syndicated Murabaha facilities (e.g., SAR 16 billion for Saudi Electricity Company, SAR 12 billion for KAFD DMC, SAR 2.5 billion for Al Rajhi REIT) and bilateral corporate Shariah-compliant facilities.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels9 records

Core offering

Saudi Awwal Bank (SAB) is a Shariah-compliant Saudi joint stock bank providing retail, SME, corporate and private banking services. Its core offerings include Islamic current, Mudarabah savings, commodity investment and Green Deposit accounts; personal, home and deposit-backed finance; a comprehensive credit/debit/prepaid card portfolio linked to the ICSAB+ loyalty programme; wealth management via SAB Invest; trade finance, treasury and markets services for corporates; and digital banking through SAB Mobile, SAB Online, SAB Phone, SAB iCorp and SAB Connect. Cross-border banking is delivered through a strategic HSBC partnership enabling Global View and Global Transfer across 16+ countries.

Product overview

Saudi Awwal Bank (SAB) operates a unified Islamic and conventional banking platform serving four customer segments — Personal (Premier, Advance, General, International Banking), SME, Corporate and Private — with a single integrated product architecture spanning accounts, financing, cards, payments, trade, wealth and digital channels. The Personal segment is anchored by Islamic Current, Mudarabah Savings, Wafer, Commodity Investment and Green Deposit accounts, complemented by a deep credit-card portfolio that includes the SAB Emirates Infinite, SAB AlFursan BLACK Mastercard, SAB Premier, VISA Signature, VISA Cashback, Advance VISA Platinum, VISA Platinum, Platinum Mastercard, AQSAT Credit Card (an automatic 3-installment BNPL card), low-limit cards (My Card, Umlaty Multi Currency) and physical and virtual Debit Cards, all linked to the ICSAB+ rewards programme and credit-card lifecycle features such as AQSAT installment plans, valet parking, airport transfer and lounge access. SME Banking offers Kafalah-backed Islamic finance solutions, working capital, CAPEX, payroll, IT-sector financing and trade solutions; Corporate Banking adds Global Payments Solutions (GPS), Global Trade Solutions, SAB AMEX Corporate Payment Solutions, Procurement Cards and Treasury/Markets services, supported by SAB iCorp and SAB Connect (B2B) digital channels. Wealth Management is delivered with SAB Invest, while the cross-border proposition runs through the SAB Global View and Global Transfer service integrated with HSBC, SADAD, SARIE, Apple Pay, Samsung Pay and mada Pay. Digital banking is delivered through SAB Online, SAB Mobile, SAB Phone, SAB 360°, SAB Store, e-Account Opening, and the SAB Digital Assistant conversational-AI chatbot. SAB also operates an institutional innovation programme, having launched its Innovation Centre in 2025 and executed the first blockchain-based Islamic repurchase agreement using smart contracts on Oumla's private blockchain.

Differentiator

Problem solved

Functional benefit

Brands

• SAB Invest (الأول للاستثمار): Wholly-owned investment services subsidiary of Saudi Awwal Bank offering brokerage, asset management, and wealth management, including a real estate fund linked to the Capital Gate project in Abu Dhabi. Operates the Tadawul trading platform for SAB customers.
• ICSAB+ (إكسب+)
• SAB AQSAT (الأول أقساط)
• SAB Umlaty (بطاقة الأول عملتي)

Products and services

• SAB Islamic Current Bank Account Shariah-compliant multi-currency personal current account (22 currencies including SAR, USD, GBP, EUR) with mada Pay debit card, cheque book, standing instructions and free access via SAB Mobile, SAB Phone and SAB Online.
• SAB Saving and Investment Accounts (Mudarabah Savings, Wafer, Commodity Investment, Green Deposit) Shariah-compliant Mudarabah savings, Wafer (auto-debit monthly savings from SAR 100), Commodity Investment (SAR 25,000 minimum, 7 days to 12 months tenors) and Green Deposit (SAR 25,000 minimum, funds environmentally friendly projects).
• SAB Safe Deposit Lockers Secure vault storage in multiple sizes for personal, SME and corporate customers with attorney rights and retrieval during banking hours.
• SAB Global View and Global Transfer Cross-border banking integration enabling Premier, Private and Advance customers to view linked HSBC account balances and transfer up to SAR 1,000,000 per day at competitive FX across 29 currencies and 16+ HSBC markets.
• SAB Home Finance Products Shariah-compliant home finance solutions covering ready units, self-construction, land purchase, off-plan purchases and home equity, with Real Estate Development Fund (REDF) support and up to 90% LTV.
• SAB Personal Finance Personal finance facility for government, semi-government, private and pensioner sectors, with a digital calculator and Tawarruq-based profit structure plus management fee.
• SAB Financing Against Deposits Personal financing that uses customer deposits as collateral, allowing customers to access liquidity while retaining their savings or investments.
• SAB Debit Card mada-branded debit card with worldwide acceptance, online payments (3D Secure), adjustable daily purchase limit up to SAR 200,000, cashback at merchants and cash withdrawal at over 1 million ATMs.
• SAB Virtual Debit Card Digital-only mada debit card issued instantly via SAB Online, SAB Mobile or Online Account Opening; supports online purchases, mada Pay and Apple Pay with 3D Secure authentication.
• SAB AQSAT Credit Card Buy-Now-Pay-Later credit card that automatically converts every purchase into 3 profit-free monthly installments; 0% APR, no annual fees, no processing or early-settlement fees; backed by a separate credit limit transferred from an existing SAB credit card.
• SAB Umlaty Multi Currency Card VISA Travel prepaid card holding up to 8 currency wallets (USD, EUR, GBP, AED, TRY, SAR, QAR, BHD, CHF), accepted at 37 million merchants globally with competitive FX rates, 3D Secure and Apple/mada Pay tokenisation.
• SAB Emirates Infinite Credit Card Premium Visa Infinite card offering travel privileges including credit protection, international medical and travel assistance, extended warranty, purchase protection and unlimited airport lounge visits.
• SAB AlFursan BLACK Mastercard Credit Card World Elite Mastercard delivering high spending power plus Al-Fursan reward miles through the loyalty programme and travel insurance benefits.
• SAB Premier Mastercard Credit Card Mastercard Premier card featuring AQSAT installment plans, special cardholder offers, complimentary credit protection, travel medical concierge and airport lounge access.
• SAB VISA Signature Credit Card Premium Visa Signature card with complimentary multi-trip travel insurance, free airport lounge access and complimentary credit protection.
• SAB VISA Cashback Credit Card Free-for-life cashback card offering 1% unlimited cashback on domestic spends, 2% on international spends and up to 10% across three preferred categories (Dining, Supermarket, Fuel) based on monthly spend tiers.
• ICSAB+ Rewards Programme Bank-wide loyalty programme awarding redeemable points on credit card spending, redeemable as Instant ICSAB+ CA$H, ICSAB+ CA$H, e-vouchers, online travel bookings or donations.
• SME Islamic Finance Solutions Shariah-compliant SME financing covering working capital, CAPEX, payroll, point-of-sale and IT sector (NTDP) finance, including Kafalah guarantee-backed options.
• SME Trade Solutions Islamic trade-finance products for SMEs, including cash-backed guarantees, payment management, merchant payment acceptance and cash-backed letters of credit.
• Global Payments Solutions (GPS) Corporate payments suite including liquidity management, collection management, payment management, merchant payment acceptance and corporate online banking for large enterprises.
• Global Trade Solutions Corporate trade finance suite covering Islamic trade solutions, import services, export services, guarantees, structured trade, trade and supply chain e-solutions and cash-backed letters of credit.
• SAB iCorp Corporate Online Banking Corporate internet banking platform providing account management, payments and trade-finance initiation for large corporate customers.
• SAB Connect B2B Platform Business-to-business connectivity platform enabling corporates to integrate with SAB for payments and banking workflows.
• Markets Services Treasury and markets products and services offered to corporate and institutional clients by SAB Markets Teams.
• SAB Wealth Management Solutions Wealth management offerings delivered in conjunction with SAB Invest, including advisory services and access to Mudarabah Savings, Commodity Investment and Green Deposit accounts.
• SAB Invest Investment arm of SAB offering brokerage, asset management and wealth management services, with online Tadawul trading and wealth-management solutions for retail and institutional customers.
• SAB e-Account Opening Online account opening journey for new customers, including issuance of an instant virtual mada debit card.

Quantifiable outcome

• SAR 8,452 million (SAR 8.5 billion) net profit in 2025, +5% YoY
• +11 more outcomes

Named customers12 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

AI capability7 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered moderate and flagship.

• MMJS ConsultingmoderateStrategic or Co-development PartnerMMJS Consulting signed a sports-focused strategic partnership with Saudi Awwal Bank to deliver integrated banking and advisory solutions to sports entities in Saudi Arabia, improving operational efficiency and financial governance in the sports sector. Announced April 2026.
• Al Rajhi Bank / Al Rajhi CapitalmoderateStrategic or Co-development PartnerCo-lender with Al Rajhi Bank in a SAR 2.5 billion syndicated credit facility for Al Rajhi REIT (managed by Al Rajhi Capital) for refinancing obligations and funding future acquisitions. Signed April 2026.
• HSBC (strategic partnership)flagshipStrategic or Co-development PartnerLong-standing strategic partnership with HSBC enables SAB Global View and Global Transfer cross-border banking across 16+ HSBC countries (Bahrain, Bermuda, Greece, India, Indonesia, Jersey, Malaysia, Malta, New Zealand, Oman, Qatar, Singapore, Taiwan, UAE, UK, Vietnam) and 29 currencies, with daily transfer limits up to SAR 1 million. Also enables HSBCnet corporate banking access for SME and corporate clients.
• Oumla (blockchain infrastructure provider)flagshipTechnology or IntegrationSAB executed the first blockchain-based Islamic repo in August 2025 with nine transactions and instant same-day settlement on Oumla's private, permissioned blockchain. Smart contracts embed Shariah compliance directly into the transaction process. SAB is advancing toward a structured pilot phase involving deeper integration with treasury management systems and Saudi Central Bank coordination on regulatory frameworks.
• ZAPS Premium (valet and airport transfer service provider)moderateGTM or Marketing PartnerPartnership enables SAB credit cardholders to access valet services and airport transfer (Riyadh, Jeddah, Dammam, Dubai) through the ZAPS Premium mobile app; service runs until 30 June 2026 for domestic and 31 December 2025 for other global airports.
• SAB Invest (subsidiary)flagshipOEM/ Whitelabel/ Licensing PartnerSAB Invest is SAB's wealth management and brokerage subsidiary providing investment solutions, Tadawul eBroker, asset management, and real estate fund financing (e.g., SAR 1B+ Capital Gate project financing). Fully integrated with SAB Online and SAB Mobile banking channels.
• Visa, Mastercard, American Express, mada (card networks)flagshipTechnology or IntegrationSAB issues credit cards across Visa (Emirates Infinite, Signature, Platinum, Advance, Cashback), Mastercard (AlFursan Black, Premier, Platinum, Titanium, World Elite Exclusive), American Express (corporate and SME), and mada (debit) networks; supports Apple Pay, Samsung Pay, mada Pay digital wallets.
• Partnership for Carbon Accounting Financials (PCAF)moderateOthersSAB joined PCAF (Partnership for Carbon Accounting Financials) to standardize carbon accounting across financial institutions, supporting its sustainable finance commitment and MSCI 'A' ESG rating. Announced June 2026.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Al Rajhi Banking and Investment Corporation: Saudi Arabia's largest Islamic bank and the world's largest Islamic bank by market cap, with overlapping retail Premier/mass-affluent, corporate, and trade finance propositions. Most directly comparable on Shariah-compliant product breadth, retail dominance, and Saudi Vision 2030 mega-project lending.
• Alinma Bank: Pure-play Saudi Islamic bank serving retail, SME, and corporate segments with comparable Shariah-compliant product architecture. Closest Saudi peer in operating model given its 100% Islamic positioning and digital-first transformation.
• Saudi National Bank (SNB): Saudi Arabia's largest bank by assets (post NCB-Samba merger) with a full-service retail, corporate, and investment banking franchise. Comparable on syndicated mega-project lending, trade finance, and Vision 2030 corporate exposures, though with a larger conventional deposit base.
• Bank Albilad: Saudi Shariah-compliant bank offering retail, SME, corporate, and treasury services with a comparable digital transformation focus. Closely aligned on Islamic banking architecture, Saudi retail Premier/mass-market positioning, and innovation-led growth narrative.
• Banque Saudi Fransi: Major Saudi commercial bank with comparable retail Premier, corporate, and trade finance propositions. Closely aligned on customer-segment structure, Vision 2030 corporate lending, and digital banking modernization, though operating on conventional rather than Islamic rails.
• Riyad Bank: Top-5 Saudi bank with a comparable retail, SME, and corporate franchise plus significant trade finance capabilities. Comparable on Saudi syndicated lending, digital transformation, and Premier/mass-affluent customer acquisition.
• Arab National Bank (ANB): Saudi joint-stock commercial bank with retail, corporate, and private banking franchises of comparable scale and product breadth. Directly comparable on Saudi corporate syndicated lending, trade finance, and digital channel modernization.
• Bank AlJazira: Saudi Shariah-compliant bank with retail, SME, and corporate offerings and a comparable digital banking focus. Closely aligned on Islamic retail and SME finance, though smaller in scale and corporate-banking depth than SAB.

Regional players

• Kuwait Finance House (KFH): Kuwait's flagship Islamic bank and one of the largest Islamic banks globally, with retail, corporate, and investment banking across GCC. Comparable on Shariah-compliant architecture, regional trade finance, and investment banking via in-house subsidiaries.
• Dubai Islamic Bank: UAE's largest Islamic bank offering retail, corporate, treasury, and trade finance across GCC. Comparable on Islamic product breadth, cross-border GCC corporate banking, and digital innovation leadership within the regional Islamic banking segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/alawwalsab
• YouTubeyoutube.com/watch?v=EuuPNID49yw&si=LSMGFuYxKSPdHf9W
• Facebookfacebook.com/alawwalsab
• LinkedInlinkedin.com/company/alawwalsab
• Instagraminstagram.com/alawwalsab

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments49 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Saudi Awwal Bank