Company Insights Saudi National Bank Banking and Finance Latest Saudi National Bank DevelopmentsAI Insights Saudi National Bank reported a 5.9 percent increase in net profit, reaching SAR 21.2 billion in 2024. This result was announced alongside other Saudi banks such as Al Rajhi and Saudi Investment Bank, which also recorded profit increases for the same period.1 SNB has been working to regain wealthy depositors that left following its 2021 merger. The company's net profits have grown at a slower rate compared to domestic competitors, while its stock price has dropped by nearly 20 percent over the past year. Deposits have declined 1.7 percent to SAR580 billion, partly due to customers withdrawing from current and savings accounts.2 During the Credit Suisse crisis in March 2023, the bank faced significant losses from its 9.88 percent stake in the Swiss bank. The Saudi Public Investment Fund, which also holds a substantial interest in SNB, saw its investment value decline dramatically during the UBS takeover of Credit Suisse.3 In the first quarter of 2025 SNB reported a 19 percent increase in net profit to SAR6 billion compared to the previous year. The company's assets rose 9 percent to SAR1.17 trillion during the same period.4 Riyadh Air signed a SAR5 billion credit facility with eight financial institutions, including SNB. This agreement forms part of the airline's strategy to finance upcoming operations and expand its fleet.5 Saudi National Bank Overview Founded in 1953 under the name of the National Commercial Bank, Saudi National Bank is the result of one of the largest mergers in the region, between NCB and Samba Financial Group in 2021. Saudi National Bank (SNB) – also know as also known as SNB AlAhli – is based in Riyadh, with subsidiaries and affiliates operating in eight countries around the world. Subsidiaries include SNB Capital, Türkiye Finans, NCB Capital Real Estate Investment Company, Real Estate Development Company, AlAhli Outsourcing Company, Samba Real Estate Company, SNB Singapore and SNB UAE. As the largest financial group in Saudi Arabia, SNB says it is supporting economic transformation in Saudi Arabia and the delivery of Saudi Arabia’s Vision 2030. In 2014 an IPO was made for 15 percent of SNB’s share capital, and an additional 10 percent was allocated to the Public Pension Agency. The bank’s shares have been trading on the Saudi Stock Exchange (Tadawul) since November 2014. Saudi Arabia’s Public Investment Fund is a major shareholder. Saudi National Bank News Analysis Banking and Finance GCC banks impress with earnings in first quarter Major banks in the six-country Gulf Cooperation Council (GCC) generated more than $13 billion in net profit in the first quarter of 2025. This was up by nearly one-tenth compared to a year earlier as increased lending and low loan defaults boosted the banks’ bottom lines. AGBI analysed the earnings of 21 banks across the […] June 9, 2025 Analysis Banking and Finance Corporate borrowing swells Saudi banks’ Q1 profits Saudi Arabia’s big banks prospered in the first quarter thanks to soaring borrowing demand from companies. However, lending growth is likely to slow and margins are shrinking because of rising fund costs and intensifying competition. The kingdom’s six largest banks by assets are Saudi National Bank, Al Rajhi Bank, Riyad Bank, Saudi Awwal Bank, Banque […] June 3, 2025 Opinion Banking and Finance Saudi Arabia’s troubled Swiss banking connection Gulf anger simmers as Swiss and US bailouts burn sovereign billions May 29, 2025 Finance Crypto payment provider Ripple plans UAE growth Cryptocurrency company Ripple Labs has outlined plans to expand in the UAE after winning approval to operate in Dubai. Based in San Francisco, Ripple was the first blockchain payments provider to be licensed by the Dubai Financial Services Authority (DFSA) in March, the company said in a statement. One in five Ripple customers is based […] May 7, 2025 Construction Emaar EC reschedules loan with consortium of Saudi banks Emaar the Economic City (Emaar EC), the developer of King Abdullah Economic City, has signed an agreement with four Saudi banks to reschedule a total of SAR3.4 billion ($904 million) in existing financing. The agreement also includes securing a new credit facility of SAR287 million from Alinma Bank, Saudi Awwal Bank, Banque Saudi Fransi and […] April 29, 2025 Banking and Finance Al Rajhi Bank reports 34% rise in quarterly profit Al Rajhi Bank, the world’s largest Islamic bank by capital, has reported a 34 percent increase in net profit for the first quarter of 2025, to SAR5.9 billion ($1.5 billion). The Saudi bank’s total assets have risen by 22 percent to SAR1.02 trillion, marking the first time Al Rajhi has surpassed the trillion-riyal mark. Its […] April 23, 2025 Banking and Finance Lending income underpins record Q1 for Saudi banks Three of Saudi Arabia’s five biggest banks by assets have reported record first-quarter profits after generating more income from loans and on lower operating costs. Saudi National Bank, the kingdom’s largest lender, reported a 19 percent jump in profit in the three months to March 31 to SAR6 billion ($1.6 billion), compared with the same […] April 22, 2025 Markets Gulf issuers plan debt sales, undeterred by market turmoil Gulf issuers, including Saudi Arabia’s $925 billion sovereign wealth fund, are working on a round of bond offerings, according to sources, braving debt markets despite recent turmoil ignited by US President Donald Trump’s tariff policies. Markets have been volatile since Trump announced sweeping tariffs on April 2, even after he rolled most of them back, as investors struggle to […] April 22, 2025 Banking and Finance HSBC dominates as Mena investment banking fees soar Investment banking fee revenue in the Middle East and North Africa soared during the first quarter thanks to record debt arrangements, increased mergers and acquisitions and more initial public offerings. The industry’s regional earnings underline the growing importance of the Mena region to international banks, although the revenue from fees remains a fraction of those […] April 9, 2025 Finance International investors target Saudi IPOs and smaller caps Emerging market investors are increasingly targeting Saudi Arabia’s smaller listed companies and initial public offerings, because of their better stock price performance versus their bigger peers. Since early 2020, foreign investors have been net buyers of almost $34 billion of Saudi Arabian equities, a report by the Dubai-based consultancy Iridium Advisors has revealed. Much of […] March 24, 2025 Posts navigation 1 2 … 9 Next
Analysis Banking and Finance GCC banks impress with earnings in first quarter Major banks in the six-country Gulf Cooperation Council (GCC) generated more than $13 billion in net profit in the first quarter of 2025. This was up by nearly one-tenth compared to a year earlier as increased lending and low loan defaults boosted the banks’ bottom lines. AGBI analysed the earnings of 21 banks across the […] June 9, 2025
Analysis Banking and Finance Corporate borrowing swells Saudi banks’ Q1 profits Saudi Arabia’s big banks prospered in the first quarter thanks to soaring borrowing demand from companies. However, lending growth is likely to slow and margins are shrinking because of rising fund costs and intensifying competition. The kingdom’s six largest banks by assets are Saudi National Bank, Al Rajhi Bank, Riyad Bank, Saudi Awwal Bank, Banque […] June 3, 2025
Opinion Banking and Finance Saudi Arabia’s troubled Swiss banking connection Gulf anger simmers as Swiss and US bailouts burn sovereign billions May 29, 2025
Finance Crypto payment provider Ripple plans UAE growth Cryptocurrency company Ripple Labs has outlined plans to expand in the UAE after winning approval to operate in Dubai. Based in San Francisco, Ripple was the first blockchain payments provider to be licensed by the Dubai Financial Services Authority (DFSA) in March, the company said in a statement. One in five Ripple customers is based […] May 7, 2025
Construction Emaar EC reschedules loan with consortium of Saudi banks Emaar the Economic City (Emaar EC), the developer of King Abdullah Economic City, has signed an agreement with four Saudi banks to reschedule a total of SAR3.4 billion ($904 million) in existing financing. The agreement also includes securing a new credit facility of SAR287 million from Alinma Bank, Saudi Awwal Bank, Banque Saudi Fransi and […] April 29, 2025
Banking and Finance Al Rajhi Bank reports 34% rise in quarterly profit Al Rajhi Bank, the world’s largest Islamic bank by capital, has reported a 34 percent increase in net profit for the first quarter of 2025, to SAR5.9 billion ($1.5 billion). The Saudi bank’s total assets have risen by 22 percent to SAR1.02 trillion, marking the first time Al Rajhi has surpassed the trillion-riyal mark. Its […] April 23, 2025
Banking and Finance Lending income underpins record Q1 for Saudi banks Three of Saudi Arabia’s five biggest banks by assets have reported record first-quarter profits after generating more income from loans and on lower operating costs. Saudi National Bank, the kingdom’s largest lender, reported a 19 percent jump in profit in the three months to March 31 to SAR6 billion ($1.6 billion), compared with the same […] April 22, 2025
Markets Gulf issuers plan debt sales, undeterred by market turmoil Gulf issuers, including Saudi Arabia’s $925 billion sovereign wealth fund, are working on a round of bond offerings, according to sources, braving debt markets despite recent turmoil ignited by US President Donald Trump’s tariff policies. Markets have been volatile since Trump announced sweeping tariffs on April 2, even after he rolled most of them back, as investors struggle to […] April 22, 2025
Banking and Finance HSBC dominates as Mena investment banking fees soar Investment banking fee revenue in the Middle East and North Africa soared during the first quarter thanks to record debt arrangements, increased mergers and acquisitions and more initial public offerings. The industry’s regional earnings underline the growing importance of the Mena region to international banks, although the revenue from fees remains a fraction of those […] April 9, 2025
Finance International investors target Saudi IPOs and smaller caps Emerging market investors are increasingly targeting Saudi Arabia’s smaller listed companies and initial public offerings, because of their better stock price performance versus their bigger peers. Since early 2020, foreign investors have been net buyers of almost $34 billion of Saudi Arabian equities, a report by the Dubai-based consultancy Iridium Advisors has revealed. Much of […] March 24, 2025
