Saudi Awwal Bank (1060.B)

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News

5 January 2025 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 …

Companies Investments

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 …

Banking and Finance

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 …

Companies Investments

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 …

Banking and Finance

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, …

Companies Investments

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 …

Cash Dividends

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

22 January 2024 09:50 AM Al Akaria renews, increases facility deal with SAB

Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) renewed and raised a Sharia-aligned banking facilities agreement worth SAR 200 million with Saudi Awwal Bank (SAB). Al Akaria secured the loan on 21 January 2024 to issue letters of credit …

Banking and Finance

26 October 2023 08:43 AM SAB generates 43% hike in 9M-23 net profits

Riyadh – Mubasher: Saudi Awwal Bank (SAB) achieved net profits valued at SAR 5.14 billion in the first nine months (9M) of 2023, higher by 43.23% year-on-year (YoY) than SAR 3.59 billion. Earnings per share (EPS) increased to SAR 2.50 in 9M-23 …

Banking and Finance

16 October 2023 11:43 AM Al Arabia obtains loans from 3 Saudi lenders

Riyadh – Mubasher: Arabian Contracting Services Company (Al Arabia) has secured a long-term Murabaha facilities agreement at a combined value of SAR 1.05 million, according to a bourse filing. Al Arabia obtained SAR 350 million from Banque Saudi …

Companies Investments

4 October 2023 04:19 PM SAB plans to issue SAR-denominated Tier 1 Sukuk

Riyadh – Mubasher: Saudi Awwal Bank (SAB) intends to issue SAR-denominated Tier 1 Sukuk through a private placement in Saudi Arabia. SAB mandated HSBC Saudi Arabia to be the sole arranger and dealer for the programme establishment, offering, and …

Banking and Finance

1 October 2023 01:36 PM Tam Development secures SAR 25m financing from SAB

Riyadh – Mubasher: Tam Development Company signed a SAR 25 million Sharia-compliant financing facility agreement with Saudi Awwal Bank (SAB) on 20 September 2023. The funding term is 12 months and the agreement is guaranteed by a promissory note …

Banking and Finance

21 September 2023 03:04 PM 2P Perfect Presentation secures SAR 306m financing from SAB

Riyadh – Mubasher: Perfect Presentation for Commercial Services (2P Perfect Presentation) renewed a Sharia-compliant financing agreement with Saudi Awwal Bank (SAB) at a value of SAR 306.18 million. The two parties signed the facility deal on 20 …

Companies Investments

5 September 2023 09:44 AM American Express, SAB launch product to foster SMEs in Saudi Arabia

Riyadh – Mubasher: American Express has joined forces with Saudi Awwal Bank (SAB) to launch a product that anchors small and medium-sized enterprises (SMEs). In an interview with Mubasher on the slides of the Seamless Saudi Arabia 2023 conference, …

Companies Investments

5 September 2023 09:07 AM SAB partners with Wise to bolster international money transfers

Riyadh – Mubasher: Saudi Awwal Bank (SAB) has entered into an agreement with Wise Platform to offer fast, secure, and cost-effective solutions for sending and receiving money internationally. The partnership anchors SAB’s objectives to achieve the …

Event

4 September 2023 02:07 PM OneCard collaborates with SAB to enhance digitalisation

Riyadh – Mubasher: Online payment service provider OneCard and Tadawul-listed Saudi Awwal Bank (SAB) entered a partnership to endorse digital payment solutions. Under the joint agreement that was concluded on the first day of Seamless Saudi Arabia …

Banking and Finance