Saudi Awwal Bank announces its Interim Financial Results for the Period Ending on 2025-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 4,314 | 3,918 | 10.107 | 4,148 | 4.001 |
| Total Income From Special Commission of Investment | 1,183 | 1,163 | 1.719 | 1,129 | 4.782 |
| Net Income From Special Commission of Financing | 2,660 | 2,626 | 1.294 | 2,650 | 0.377 |
| Net Income From Special Commission of Investment | 188 | 107 | 75.7 | 188 | - |
| Total Operations Profit (Loss) | 3,721 | 3,492 | 6.557 | 3,620 | 2.79 |
| Net Profit (Loss) before Zakat and Income Tax | 2,479 | 2,360 | 5.042 | 2,449 | 1.224 |
| Net Profit/(Loss) | 2,127 | 2,018 | 5.401 | 2,135 | -0.374 |
| Total Comprehensive Income | 2,224 | 1,725 | 28.927 | 3,585 | -37.963 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 1,074 | 1,075 | -0.093 | 1,071 | 0.28 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 216 | 112 | 92.857 | 142 | 52.112 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Income From Special Commission of Financing | 8,462 | 7,651 | 10.599 |
| Total Income From Special Commission of Investment | 2,312 | 2,297 | 0.653 |
| Net Income From Special Commission of Financing | 5,310 | 5,183 | 2.45 |
| Net Income From Special Commission of Investment | 376 | 258 | 45.736 |
| Total Operations Profit (Loss) | 7,341 | 6,939 | 5.793 |
| Net Profit (Loss) before Zakat and Income Tax | 4,928 | 4,711 | 4.606 |
| Net profit (Loss) | 4,262 | 4,061 | 4.949 |
| Total Comprehensive Income | 5,808 | 2,913 | 99.382 |
| Assets | 432,357 | 382,296 | 13.094 |
| Investments | 107,816 | 91,834 | 17.403 |
| Loans And Advances Portfolio (Financing And Investment) | 282,604 | 241,552 | 16.995 |
| Clients' deposits | 297,003 | 279,167 | 6.389 |
| Total Shareholders Equity (after Deducting Minority Equity) | 74,500 | 62,744 | 18.736 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 2,145 | 2,126 | 0.893 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 358 | 193 | 85.492 |
| Profit (Loss) per Share | 1.95 | 1.9 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in special commission income during the current quarter compared to the same quarter of the last year is | The gross special commission income was higher by 8% primarily driven by growth in loan and investment portfolio. However, net special commission income was only higher by 4%, as special commission expense grew, reflecting the growth in interbank borrowing and the increase in the proportion of special commission expense bearing term deposits. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The net profit was higher by 5% primarily driven by an increase in total operating income partially offset by an increase in net provision for expected credit losses.
Total operating income increased mainly due to an increase in net special commission income, gain on FVOCI debt instruments, exchange income and net other operating income partially offset by a decrease in income from FVSI financial instruments and net fee and commission income. |
| The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the same quarter of the last year is | Net provision for expected credit losses increased by SAR 104 million or 93%. Higher net impairment charges on loans in the current quarter offset by higher recoveries net of write-offs. |
| The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is | The gross special commission income was higher by 4% driven by growth in loan and investment portfolio. Net special commission income remained stable as the special commission expense was higher by 9% primarily driven by an increase in average interest bearing deposits. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is | The net profit was stable as higher operating income was offset by higher provision of expected credit losses.
Total operating income increased mainly due to a gain on FVOCI debt instruments, net other operating income, gain from FVSI financial instruments, exchange income and net special commission income partially offset by a decrease in net fee and commission income.
The increase in provision of expected credit losses is explained below. |
| The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the previous quarter is | Net provision for expected credit losses increased by SAR 75 million or 52% mainly due to higher impairment charges for loans net of recoveries. |
| The reason of the increase (decrease) in special commission income during the current period compared to the same period of the last year is | The gross special commission income was higher by 8% primarily driven by volume growth in loan and investment portfolio. However, net special commission income was only higher by 4%, as special commission expense grew reflecting the higher interbank borrowing cost and the increase in the proportion of special commission expense bearing term deposits. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The net profit was higher by 5% primarily driven by an increase in total operating income partly offset by higher provision of expected credit losses. Growth in operating costs was limited to 1%.
Total operating income increased mainly due to an increase in net special commission income, gain on FVOCI debt instruments, exchange income, gain on amortised cost investments, net fee and commission income and net other operating income partially offset by a decrease in income from FVSI financial instruments.
The increase in provision of expected credit losses is explained below. |
| The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current period compared to the same period of the last year is | Net provision for expected credit losses increased by SAR 165 million or 86% mainly due to higher impairment charges on loans and off balance sheet for the current period partially offset by higher recoveries net of write-offs. |
| Statement of the type of external auditor's report | Unmodified Conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | Certain prior period's figures have been reclassified to be aligned with the presentation in the current period. |
| Additional Information | Earnings per share for the three month and six month period ended 30 June 2025 and 30 June 2024 are calculated by dividing the net income after Zakat and income tax attributable to equity holders of the Bank (adjusted for Tier 1 Sukuk costs) by 2,055 million weighted average number of shares outstanding during the three month and six month period ended 30 June 2025 and 30 June 2024. |
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