Best private bank: Saudi Awwal Bank
Saudi Awwal Bank (SAB) performed well above its peers during the review period, deepening many of its client relationships and growing on the back of a clear progression model from premier to private banking.
Deposits rose 14% in the first nine months of 2025, with inflows split between existing and new-to-bank clients. Almost 80% of private bank clients invest via Alawwal Invest, evidencing strong adoption of the core investment platform and rising wallet share among expats and second-generation decision-makers.
Strategic execution is anchored on the Vision 2030 initiative. A new flagship private banking centre in Riyadh targets the bank’s main client base in the market, while SAB’s strategic partnership with HSBC delivers global connectivity. The HSBC partnership yields co-branded privileges and seamless international capabilities, including global view and fee-free transfers between SAB and HSBC accounts, supporting diversified, cross-border wealth needs.
On the financing side, clients can access tailored lending alongside Alawwal Invest’s public and private markets solutions, enabling portfolio construction beyond single trade execution. In 2025, the bank upgraded its client experience to refresh the private bank corporate identity, with a new welcome box and a unique debit card with instant issuance, as well as updated visual materials that support consistent, premium servicing.
Coverage and talent are high touch and globally informed. Each client is partnered with a dedicated relationship manager who orchestrates the full banking and investment offering through Alawwal Invest. Internal training is reinforced by annual secondments to HSBC in London to deepen international expertise.
Digital delivery is market relevant: a redesigned SAB mobile experience offers quick access, a clear interface, enhanced dashboards and new features such as referrals, expanded corridors for money transfers and a revamped store. The app also provides global view and transfers to HSBC accounts at no charge.
