Latest news with #LubnaOlayan
Zawya
2 days ago
- Business
- Zawya
Saudi Awwal Bank records $1.15bln net profit after Zakat and Income Tax for H1 2025
Lubna S. Olayan, Chair of the Board of Directors of Saudi Awwal Bank (SAB), announced today its financial results for the six-month period ending 30 June 2025, reflecting steady growth across key indicators and continued momentum in SAB's strategic transformation. For the first six months of 2025, SAB generated a net profit after Zakat and income tax of SR4.262 billion, reflecting a 5% year-on-year increase. Total operating income rose to SR7,341 million, supported by higher loan volumes and a strong deposit base. Net loans and advances reached SR283 billion, and customer deposits increased to SR297 billion. Return on tangible equity stood at 15.5%, aligned with the Bank's medium-term performance targets. Lubna Olayan, Chair of SAB, said: 'Our H1 performance demonstrates consistent delivery against our long-term strategy. In a changing macroeconomic environment, we remained focused on what matters most: serving customers, improving efficiency, and building resilience. The momentum across our lending and funding platforms reflects the depth of our capabilities and the strength of execution across the Bank.' She added: 'From operational discipline to digital innovation, we are investing in future-ready banking. Our performance is not just a reflection of market conditions, but rather a result of deliberate choices that support long-term value creation for our stakeholders.' In the first half of 2025, SAB made significant strides in advancing its strategic objectives. The Bank achieved a 9% increase in total loans, reflecting robust growth across our well-respected large and institutional corporate segments, as well as retail, housing, and SME segments. The mortgage growth supported SAB's continued leadership in the national homeownership initiative, maintaining its #3 ranking in REDF originations under Vision 2030. Our strong relationship with HSBC also enables us to capture significant share of the flow of multinationals coming into the Kingdom, which results in both lending and increased off balance sheet commitments. Operational efficiencies contributed to an improved cost-to-income ratio, driven by disciplined management and digital process enhancements. Additionally, SAB strengthened its deposit base and liquidity buffers, ensuring we remain a well-funded Bank to support future growth aspirations. The Bank also maintained strong asset quality and continued to generate solid returns, demonstrating its stability and ongoing progress toward strategic goals. The Bank earned several notable industry recognitions in the same period, including the Best Bank in Saudi Arabia for 2025 by Euromoney. It also received awards for Best Innovation in Financial Performance and Best Bank for ESG, among others. As part of its transformation journey, SAB launched a World-Class Financial Services Innovation Centre in 2025. The centre is designed to accelerate innovation in digital banking, customer experience, and promote sustainable finance, further anchoring SAB's leadership in shaping the future of financial services in the Kingdom. Olayan concluded: 'SAB's strategy is built on innovation, trust, and long-term impact. Our strong performance, combined with the depth of our partnerships and the confidence of our customers, positions us well for the future. I thank our team, our Board, our regulators, and our clients for their continued support as we drive progress on all fronts.' © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Saudi Gazette
2 days ago
- Business
- Saudi Gazette
Saudi Awwal Bank records SR4.3 billion net profit after Zakat and Income Tax for H1 2025
Lubna S. Olayan, Chair of the Board of Directors of Saudi Awwal Bank (SAB), announced today its financial results for the six-month period ending 30 June 2025, reflecting steady growth across key indicators and continued momentum in SAB's strategic transformation. For the first six months of 2025, SAB generated a net profit after Zakat and income tax of SR4.262 billion, reflecting a 5% year-on-year increase. Total operating income rose to SR7,341 million, supported by higher loan volumes and a strong deposit base. Net loans and advances reached SR283 billion, and customer deposits increased to SR297 billion. Return on tangible equity stood at 15.5%, aligned with the Bank's medium-term performance targets. Lubna Olayan, Chair of SAB, said: 'Our H1 performance demonstrates consistent delivery against our long-term strategy. In a changing macroeconomic environment, we remained focused on what matters most: serving customers, improving efficiency, and building resilience. The momentum across our lending and funding platforms reflects the depth of our capabilities and the strength of execution across the Bank.' She added: 'From operational discipline to digital innovation, we are investing in future-ready banking. Our performance is not just a reflection of market conditions, but rather a result of deliberate choices that support long-term value creation for our stakeholders.' In the first half of 2025, SAB made significant strides in advancing its strategic objectives. The Bank achieved a 9% increase in total loans, reflecting robust growth across our well-respected large and institutional corporate segments, as well as retail, housing, and SME segments. The mortgage growth supported SAB's continued leadership in the national homeownership initiative, maintaining its #3 ranking in REDF originations under Vision 2030. Our strong relationship with HSBC also enables us to capture significant share of the flow of multinationals coming into the Kingdom, which results in both lending and increased off balance sheet commitments. Operational efficiencies contributed to an improved cost-to-income ratio, driven by disciplined management and digital process enhancements. Additionally, SAB strengthened its deposit base and liquidity buffers, ensuring we remain a well-funded Bank to support future growth aspirations. The Bank also maintained strong asset quality and continued to generate solid returns, demonstrating its stability and ongoing progress toward strategic goals. The Bank earned several notable industry recognitions in the same period, including the Best Bank in Saudi Arabia for 2025 by Euromoney. It also received awards for Best Innovation in Financial Performance and Best Bank for ESG, among others. As part of its transformation journey, SAB launched a World-Class Financial Services Innovation Centre in 2025. The centre is designed to accelerate innovation in digital banking, customer experience, and promote sustainable finance, further anchoring SAB's leadership in shaping the future of financial services in the Kingdom. Olayan concluded: 'SAB's strategy is built on innovation, trust, and long-term impact. Our strong performance, combined with the depth of our partnerships and the confidence of our customers, positions us well for the future. I thank our team, our Board, our regulators, and our clients for their continued support as we drive progress on all fronts.'
Arab News
21-05-2025
- Business
- Arab News
Inaugural Middle East Fortune women's summit brings together female leaders
RIYADH: The first Fortune Most Powerful Women International summit in the Middle East convened in Riyadh this week. The event brought together a global network of female leaders from business, government, investment, tech and policy sectors. 'As women, we often find ourselves needing to prove our capabilities more when it comes to our careers,' said Dr. Giovanna Carnevali, executive director of master planning at ROSHN Group. 'At the same time, we bring deep passion to our work and put our heart and soul into everything we do. I always say that what truly matters is letting your work speak for you.' Speaking to Arab News during the event, Carnevali said her career in Saudi Arabia reflected the country's transformation. 'The experiences I have had here are unique. Living and working in the Kingdom has been a continuous journey of growth, and I am truly grateful for what the country has offered me and to women more broadly,' she said. From geopolitics and sustainability to artificial intelligence and banking, the forum's sessions highlighted how Saudi Arabia — and its women — are reshaping the global conversation on leadership. Lubna Olayan, chair of Saudi Awwal Bank, talked about how Vision 2030 had already surpassed its workforce target for women and called for greater ambitions. 'We need to set a new benchmark,' she told moderator Diane Brady. 'In my company, we now have 36 percent women. When we started hiring women in 2001, there was just one.' Olayan, the first Saudi woman to chair a bank and join a public board, said real progress depended on investment in leadership. 'We need to bring more women into decision-making roles. If the candidates are equal, I'll back the woman — because we're still behind,' she added. Technology was another recurring topic. Prof. Lilac Al-Safadi, CEO of IKONIC Educational Holding, outlined Saudi Arabia's position as an emerging AI powerhouse. 'The Kingdom has trained more than 60,000 AI professionals and launched the world's first cognitive city — not just smart, but fully AI-integrated,' she said. And Ellie Rubenstein, co-founder of Manna Tree and one of the first US food investors to enter the Saudi market, said demand in her sector was shifting fast: 'Seven years ago, we were seen as a food security fund. Today, it's about wellness. The consumers here — especially women — are driving that shift.' She emphasized the importance of understanding what women wanted: 'It's not just about selling products. Brands need to speak to values — wellness, empowerment, sustainability. Women here are not just shaping their families. They're shaping their country.'
Mid East Info
20-05-2025
- Business
- Mid East Info
Lubna Olayan to Open Fortune Most Powerful Women Summit in Riyadh - Middle East Business News and Information
Olayan joins more than 40 distinguished speakers from 35 countries, including senior executives from FedEx, Goldman Sachs, Mastercard, Marriott International, and other global firms. The Summit marks one of the most significant gatherings of senior Saudi female leaders from the government at an international women's gathering. NEW YORK, May 20, 2025 —Lubna Olayan, one of Saudi Arabia's most prominent business leaders, who has appeared 12 times on Fortune's Most Powerful Women in Business list, will open the Fortune Most Powerful Women International Summit in Riyadh on May 20, 2025. Olayan will set the tone for the two-day gathering, which marks Fortune's first international Most Powerful Women summit in the Middle East — a milestone moment that reflects the Kingdom's focus on advancing women's leadership in business. The summit will also feature an unprecedented presence of senior Saudi female officials, representing leadership across multiple sectors of government, including: H.H. Princess Haifa Mohammed Al Saud – Vice Minister of Tourism H.E. Dr. Hala Al-Tuwaijri – President, Saudi Human Rights Commission H.E. Dr. Einas bint Suleiman Al-Eisa – Deputy Minister of Education Adwa Al-Arifi – Assistant Minister for Sport Affairs, Ministry of Sport Farah Ismail – Deputy Minister, Sectoral and Regional Development, Ministry of Economy and Planning These leaders will speak on how women in government are driving progress in key sectors—from economic diversification and education to wellness and tourism demonstrating the depth of Saudi Arabia's women leaders as the country continues to implement its Vision 2030 reform agenda. Taking place at The St. Regis Riyadh on May 20-21, the summit will convene around the theme 'A New Era for Business: Partnering for Global Prosperity.' It will bring together more than 150 of the world's most influential women—including CEOs, policymakers, and entrepreneurs—from 35 countries to explore new models of inclusive growth, innovation, and international cooperation. As part of the opening day, Fortune will also unveil its 2025 Most Powerful Women in Business list, celebrating the achievements of leading female executives and further elevating the event's global resonance. Joining the Summit's roster of global leaders is The Rt. Hon. Theresa May, former Prime Minister of the United Kingdom (2016–2019), who will headline the closing session on May 21. In a conversation moderated by Ellie Austin, Editorial Director of Fortune Most Powerful Women, May will offer her insights on fractured global alliances, climate leadership, and the role of bold, ethical leadership in navigating geopolitical uncertainty. The Summit's wider speaker roster includes senior executives from FedEx, Goldman Sachs, Mastercard, Marriott International, Microsoft, and other Fortune 500 companies, as well as international public sector. In addition to business and policy discussions, the Summit will spotlight women driving change across culture, media, and sport. On Day 2, a special MPW Spotlight on Women in Sports will feature Adwa Al-Arifi, Assistant Minister for Sport Affairs, in conversation with Noor Nugali, Deputy Editor-in-Chief of Arab News. Al-Arifi will highlight the country's growing investment in women's sports, from school leagues to elite training centers, and its broader impact on public health and societal change. This will be followed by 'Playing to Win: Women, Sports, and Breaking Barriers', featuring: Aalia Al-Rasheed, Head of Women's Football, Saudi Arabian Football Federation Zam Zam Al Hammadi, Fighter, Professional Fighters League Rasha Alkhamis, President of the Saudi Mixed Martial Arts Federation Mashael AlObaidan, Rally Driver Lebanese actress and TV presenter Daniella Rahme will also appear as a special guest speaker. In a session with Fortune's Ellie Austin, Rahme will discuss the power of representation, building authentic personal brands, and leveraging visibility to elevate regional identity on the global stage. About Fortune: Fortune is a global multi-platform media company built on a legacy of trusted, award-winning reporting and information for those who want to make business better. Independently owned, Fortune tells the stories of the world's biggest companies and their leaders as well as a new generation of innovators who are moving business forward. Digitally and in print, Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World's Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum, Brainstorm Tech, and Fortune Most Powerful Women.
Trade Arabia
20-05-2025
- Business
- Trade Arabia
Lubna Olayan to open Fortune Most Powerful Women Summit in Riyadh
Lubna Olayan, one of Saudi Arabia's most prominent business leaders, who has appeared 12 times on Fortune's Most Powerful Women in Business list, will open the Fortune Most Powerful Women International Summit in Riyadh today (May 20). Olayan will set the tone for the two-day gathering, which marks Fortune's first international Most Powerful Women summit in the Middle East — a milestone moment that reflects the Kingdom's focus on advancing women's leadership in business. The summit will also feature an unprecedented presence of senior Saudi female officials, representing leadership across multiple sectors of government, including: • Princess Haifa Mohammed Al Saud – Vice Minister of Tourism • Dr Hala Al-Tuwaijri – President, Saudi Human Rights Commission • Dr Einas bint Suleiman Al-Eisa – Deputy Minister of Education • Adwa Al-Arifi – Assistant Minister for Sport Affairs, Ministry of Sport • Farah Ismail – Deputy Minister, Sectoral and Regional Development, Ministry of Economy and Planning These leaders will speak on how women in government are driving progress in key sectors—from economic diversification and education to wellness and tourism demonstrating the depth of Saudi Arabia's women leaders as the country continues to implement its Vision 2030 reform agenda. Taking place at The St. Regis Riyadh on May 20 and 21, the summit will convene around the theme 'A New Era for Business: Partnering for Global Prosperity.' It will bring together more than 150 of the world's most influential women—including CEOs, policymakers, and entrepreneurs—from 35 countries to explore new models of inclusive growth, innovation, and international cooperation. As part of the opening day, Fortune will also unveil its 2025 Most Powerful Women in Business list, celebrating the achievements of leading female executives and further elevating the event's global resonance. Joining the summit's roster of global leaders is Theresa May, former Prime Minister of the United Kingdom (2016–2019), who will headline the closing session on May 21. In a conversation moderated by Ellie Austin, Editorial Director of Fortune Most Powerful Women, May will offer her insights on fractured global alliances, climate leadership, and the role of bold, ethical leadership in navigating geopolitical uncertainty. The summit's wider speaker roster includes senior executives from FedEx, Goldman Sachs, Mastercard, Marriott International, Microsoft, and other Fortune 500 companies, as well as international public sector. In addition to business and policy discussions, the Summit will spotlight women driving change across culture, media, and sport. On Day 2, a special MPW Spotlight on Women in Sports will feature Adwa Al-Arifi, Assistant Minister for Sport Affairs, in conversation with Noor Nugali, Deputy Editor-in-Chief of Arab News. Al-Arifi will highlight the country's growing investment in women's sports, from school leagues to elite training centers, and its broader impact on public health and societal change. This will be followed by 'Playing to Win: Women, Sports, and Breaking Barriers', featuring: • Aalia Al-Rasheed, Head of Women's Football, Saudi Arabian Football Federation • Zam Zam Al Hammadi, Fighter, Professional Fighters League • Rasha Alkhamis, President of the Saudi Mixed Martial Arts Federation • Mashael AlObaidan, Rally Driver
