SAB was established as the Saudi British Bank in 1978. In 2019, it merged with Alawwal Bank and changed its name to Saudi Awwal Bank in April 2023. It has a network of 103 branches in Saudi Arabia. The bank’s net profit increased by 45.1% in 2023 to $1.9 billion. By the end of 2023, SAB’s mortgage portfolio grew by 27% to hit $7.4 billion. HSBC Holdings B.V holds 31% of the bank, while Olayan Saudi Investment Company owns 20.4%.