Saudi Awwal Bank (1060) Q1 2025 earnings summary

Executive summary

• Interim results for the three months ended 31 March 2025 show continued growth in assets, loans, and profitability.

• Net income after Zakat and income tax rose to SAR 2,135 million, up from SAR 2,043 million year-over-year.

• Total comprehensive income reached SAR 3,585 million, reflecting strong gains in FVOCI debt instruments.

Financial highlights

• Total assets increased to SAR 425.7 billion from SAR 369.6 billion year-over-year.

• Net loans and advances grew to SAR 278.8 billion, up from SAR 228.5 billion year-over-year.

• Customer deposits rose to SAR 290.4 billion, compared to SAR 265.9 billion a year earlier.

• Net special commission income was SAR 2,838 million, up from SAR 2,709 million year-over-year.

• Basic and diluted EPS increased to SAR 0.98 from SAR 0.96 year-over-year.

Outlook and guidance

• Board proposed a net dividend of SAR 2,055 million for H2 2024, at SAR 1.00 per share net of Zakat.

• Capital adequacy ratios remain robust, supporting future growth and regulatory compliance.