The first Saudi Bank achieves 2.1 billion SAR, net income after zakat and income tax for the first quarter of 2025, an increase of 5% compared to the first quarter of 2024

Summary of the results of the first quarter of 2025:

• Net income after zakat and income tax: 2,135 million SAR, an increase of 5% compared to 2,043 million SAR in the first quarter of 2024.
• Total operations income: 3,620 million SAR, an increase of 5% compared to 3,447 million SAR in the first quarter of 2024.
Net loans and predecessors: 279 billion SAR, an increase of 22% compared to 229 billion SAR in the first quarter of 2024.
Customer deposits: 290 billion SAR, an increase of 9% compared to 266 billion SAR in the first quarter of 2024.
• Total property rights: 72 billion SAR, an increase of 14% compared to 63 billion SAR in the first quarter of 2024.
The Kingdom of Saudi Arabia, Riyadh, April 27, 2025: Mrs. Lubna Al -Olayan, Chairman of the First Saudi Bank, announced today the financial results of the bank for the period ending March 31, 2025.
“The First” recorded a net income after zakat and income tax of 2,135 million SAR for the first three months of 2025, an increase of 5% on an annual basis. The total operation income increased by 5% to 3,620 million SAR.
Commenting on the financial results, Mrs. Lubna Al -Olayan stated: “Despite the global challenges in the total economic environment, we are still confident of the march of the Kingdom’s growth, and proud of the first role in supporting this growth through his financing directed towards achieving quality.
The first achieved 8% growth in the total loan portfolio and predecessor on a quarterly basis, driven by strong growth in the wealth management and banking sector by 6%, and 8% growth in the companies of the companies and institutions banking.
The net loan and predecessor portfolio of the bank reached 279 billion SAR, which represents a growth of 22% compared to 229 billion SAR in the first quarter of 2024. Customer deposits also rose to 290 billion SAR, an increase of 9% compared to 266 billion SAR in the first quarter of 2024. The total property rights increased by 14% from 63 billion SAR in the first quarter of 2024 to become 72 billion SAR. Despite the low interest rates, the net income of the “first” commission continued to grow, reflecting the bank’s strength and operational strength.
We are also proud of choosing international customers for us as a reliable partner, to continue our pioneering role in meeting the needs of the increasing number of international customers coming to the Kingdom.
Al -Olayan explained: “We have maintained a positive performance, which indicates the efficiency of expense management compared to income growth. Also, the quality of our assets is still very strong, as our loan growth has accompanied a strong attraction to deposits, which ensures stable financing and a strong financial position, and as expected, this was reflected on the revenue of concrete property rights by 15.8%.
In addition, the “first” achieved an exceptional quarter in corporate loans, by financing a variety of major sectors. Real estate financing work has achieved its best quarterly performance since the first quarter of 2024, as the real estate financing portfolio reached 38 billion SAR at the end of the first quarter of 2025, recording an increase in size by twice as much, compared to when the “first” began to apply its strategy.
In appreciation of our efforts to integrate sustainability as a basic strategic pillar in all our business, we are proud of the “first” award for the “Sustainability Program for the year 2024” at the Saudi Financial Market Forum, to be the first financial institution in the Kingdom to obtain this honor. This award emphasizes the prominent role of the bank in enhancing environmental and social practices and corporate governance in the Saudi economy. He was also honored by the Global Finance magazine with the “Best Trade Financing Services” award for the fifth year in a row.
Al -Olayan added: “Our results reflect our strategic direction, which is characterized by high growth in revenue and strong performance in loans. In a changing global environment, our commitment to innovation and sustainability, in addition to our strategic partnership with HSBC, prepare us excellent to take advantage of future opportunities.”
She concluded by saying: “This progress would not have been fulfilled without the commitment and support of the members of the board of directors, the senior management team, and our employees. I would also like to thank our regulatory authorities, the Saudi Central Bank and the Capital Market Authority, for their directives and assistance.”