Riyadh – Mubasher: Saudi Awwal Bank (SAB) inked a SAR 6.40 billion bilateral financing agreement with Al Bawani, in which the Public Investment Fund (PIF) holds a stake, according to a press release.
The facility deal reflects the bank’s vital role in enabling strategic infrastructure and development initiatives across the Kingdom, while strengthening its diversified corporate portfolio, according to a press release.
It also backs Saudi Arabia’s Vision 2030 goals through future-forward infrastructure and development projects that contribute to economic diversification and long-term sustainable growth across the Kingdom.
Chief Corporate and Institutional Banking Officer at SAB, Yasser Al Barrak, commented: “As infrastructure and development activity continue to accelerate across the Kingdom, we remain focused on enabling high-impact sectors through tailored banking solutions and strong client partnerships. AlBawani’s proven delivery capabilities and track record across major projects make the company a valued partner in supporting the next phase of national transformation.”
Group CEO of AlBawani, Fakher Al Shawaf, said: "This financing agreement reflects the unwavering confidence of SAB in our capacity to deliver projects and fulfill our development commitments. It equally underscores the resilience of the Saudi banking sector and its ability to empower national enterprises in advancing the objectives of Vision 2030.”
He added: “We continue to expand our footprint across the energy, investment, construction, technology, infrastructure, oil and gas pipeline, and utilities management sectors further cementing our role as a committed national partner in building the future of our country."
Through its financing capabilities and strategic partnerships across the public and private sectors, SAB enables major projects and supporting Saudi Arabia’s evolving economic landscape.
Meanwhile, Al Bawani stands among the major integrated national entities whose operations span across the sectors of construction, technology, utilities management, and infrastructure.
In the three-month period that ended on 31 March 2026, SAB logged lower net profits to the owners at SAR 2.08 billion, compared to SAR 2.13 billion a year earlier.
