Saudi Awwal Bank (SAB) secured the Sustainability Program of the Year 2024 award at the Capital Markets Forum (CMF), hosted by the Saudi Stock Exchange Group (Tadawul). This milestone marks the first time a Saudi bank has received this prestigious honor.
The award recognizes SAB’s leadership in advancing environmental, social, and governance (ESG) practices across the Kingdom’s economy. Independent committees, comprising sector experts from CFA Society Saudi Arabia and the Middle East Investor Relations Association, selected winners based on strict criteria.
Leadership in Sustainable Finance
Tony Cripps, SAB’s Managing Director and CEO, highlighted the bank’s commitment to responsible banking. “This award reflects our dedication to sustainability as a core operational pillar,” he said. “We align our strategy with Saudi Vision 2030 to drive national progress.”
He emphasized SAB’s role in shaping sustainable finance. “We will continue enhancing our environmental and social impact to support national ESG goals,” Cripps added.
SAB leads Saudi Arabia’s banking sector with ambitious sustainability targets. The bank aims to achieve net-zero operational emissions by 2035 and net-zero financed emissions by 2060. It has also allocated SR 34 billion for sustainable financing by 2025, supporting the Saudi Green Initiative.
Additionally, SAB chairs the Advisory Committee on Sustainable Banking (EBAC) under the Saudi Central Bank (SAMA). This reinforces its role as a pioneer in sustainable financial practices.
SAB’s Legacy of Financial Excellence
With over 90 years of operations, SAB ranks among Saudi Arabia’s largest banks. It delivers top-tier corporate, institutional, and personal banking services while excelling in trade finance, foreign exchange, and digital innovation.
Following its 2021 merger with Alawwal Bank, SAB now operates with SAR 20.5 billion in paid-up capital. The bank remains a key HSBC Group partner and SAMA-regulated institution, driving economic growth and ESG innovation.
