SAB named ‘best bank’ in Saudi Arabia for 2025

The debut edition highlighted how sports and leisure infrastructure is becoming a central pillar in Saudi Arabia’s Vision 2030 ambitions.
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Updated 14 July 2025
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SAB named ‘best bank’ in Saudi Arabia for 2025

  • In support of Vision 2030, SAB expanded its mortgage portfolio to SR35 billion, enhancing access to homeownership

Saudi Awwal Bank, one of the leading banks in the Kingdom, has been named “Best Bank in Saudi Arabia for 2025” by Euromoney, recognizing the bank’s strong financial performance, continued digital advancement, and commitment to social responsibility over the past year.
In 2024, SAB reported a net profit of SR8.07 billion ($2.15 billion), a 15 percent increase over the previous year. Its operating income reached SR14 million, supported by a 16 percent return on tangible equity, reflecting consistent performance and effective capital deployment.
Lending remained a key area of growth, with net loans and advances rising by 20 percent to reach SR259 billion, in line with SAB’s strategy to support the financing needs of individuals and businesses across the Kingdom.
SAB continued to strengthen its digital capabilities, expanding its share of the digital payments market to 17.3 percent. The bank launched SAB 360°, an AI-powered platform offering clients real-time financial insights and streamlined onboarding processes through an enhanced KYC platform, reducing processing time by 40 percent. It also maintained its focus on convenience and security by being one of the early adopters of Samsung Pay in the local market.

In support of Vision 2030, SAB expanded its mortgage portfolio to SR35 billion, enhancing access to homeownership. The bank also progressed its ESG agenda, financing renewable energy projects generating a combined 4.5 GW of clean energy capacity, and introduced Shariah-compliant ESG investment solutions for private banking clients.
Tony Cripps, managing director and CEO of SAB, said: “This award reflects the strength of our business model, the dedication of our people, and our commitment to leading with purpose. We are proud to play a key role in shaping the future of banking in the Kingdom and supporting national transformation.”
The recognition reinforces SAB’s position as a trusted financial partner, focused on delivering long-term value to its customers, shareholders, and the broader financial ecosystem in the Kingdom.

 


Tourism Minister opens Radisson Hotel Madinah

Updated 24 February 2026
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Tourism Minister opens Radisson Hotel Madinah

Minister of Tourism and Chairman of the Board of the Tourism Development Fund Ahmed Al-Khateeb recently inaugurated the Radisson Hotel Madinah. The hotel has been enabled by the TDF, a Saudi government fund dedicated to supporting and developing the Saudi tourism sector. The opening of the new property falls within ongoing efforts to enhance the hospitality infrastructure in Madinah and increase its readiness to receive visitors, thereby improving the quality of tourism services in line with the objectives of the National Tourism Strategy and Saudi Vision 2030.
The minister stated that the opening of Radisson Hotel Madinah reflects TDF’s commitment to high-quality and diversified projects that meet visitors’ needs. He said: “Saudi Arabia continues to advance the development of the hospitality sector across different regions to ensure the provision of exceptional accommodation experiences that enhance the visitor journey and support the sustainable growth of tourism, particularly in cities of religious and historical significance such as Madinah.”
TDF CEO Qusai Al-Fakhri said that the fund continues to perform its role as the national enabler of the tourism sector by supporting projects that generate tangible economic and developmental impact. He explained that the hotel’s opening represents a model of TDF’s role in diversified tourism investments and support for the private sector’s hotel projects, which increase accommodation capacity, create job opportunities, and enhance quality of life in Madinah.
The four-star Radisson Hotel Madinah spans an area exceeding 2,300 square meters and comprises 165 rooms. It is located next to Quba Mosque, 12 minutes by car from the Prophet’s Mosque, and 20 minutes from Prince Mohammad bin Abdulaziz International Airport, making it a convenient choice for city visitors and pilgrims. The hotel includes a restaurant serving guests and visitors, dedicated meeting and event spaces, and sports facilities. 
The hotel contributes to stimulating the local economic activity and supporting the tourism and hospitality ecosystem, enhancing Madinah’s readiness to receive increasing numbers of visitors and pilgrims in the coming years.
This project is part of the TDF’s portfolio of tourism projects in various regions of the Kingdom. The TDF has contributed to more than 130 tourism projects in Madinah, with total contributions exceeding SR1.5 billion ($400 million) and accommodation capacity surpassing 2,100 hotel rooms, reaffirming its role in advancing tourism investment, sustainable development objectives, and the tourism sector’s contribution to the national economy, in line with the National Tourism Strategy and Saudi Vision 2030.