SAB doubles down on gigaproject lending with SAR 6.4 bn AlBawani financing

Saudi Awwal Bank (SAB) signed a SAR 6.4 bn bilateral financing agreement with PIF-backed Albawani, according to a press release.

Why this matters: A corporate facility of this size would typically be syndicated across several banks to spread risk exposure. SAB taking the full financing onto its balance sheet signals the bank is leaning further into big-ticket corporate lending tied to the construction pipeline, where Albawani is involved in a number of big projects including Diriyah, Seven, and Aramco Stadium.

Part of a pattern: Last year, the bank extended a SAR 2 bn loan to Saudi Binladin Group for King Fahd Sports City.