Saudi National Bank
Saudi National Bank (SNB), headquartered in Riyadh, Saudi Arabia, is a leading player in the financial intermediation services sector, specifically excluding insurance and pension funding. Established in 2021 through the merger of National Commercial Bank and Samba Financial Group, SNB has quickly positioned itself as a cornerstone of the Saudi banking landscape.
The bank offers a comprehensive range of services, including retail banking, corporate finance, and investment solutions, distinguished by its commitment to innovation and customer-centricity. With a strong focus on digital transformation, SNB aims to enhance customer experiences while maintaining robust financial performance.
Recognised for its significant market presence, Saudi National Bank has achieved notable milestones, including rapid asset growth and a strong capital base, solidifying its status as a trusted financial partner in the region.
-7 vs industry average
Saudi National Bank’s score of 30 is lower than 44% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Financial Intermediation is among the least carbon-intensive industries
Industry performance
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2026
Reported emissions
Scope 3 accounts for ••• of total emissions.
Saudi National Bank's reported carbon emissions
Saudi National Bank (SNB) reported approximately 98.1 billion kg CO2e in total emissions for 2023. This figure encompasses Scope 1, 2, and 3 emissions. In 2022, total emissions were approximately 21.3 billion kg CO2e. The bank's Scope 1 emissions for 2023 were about 11.1 million kg CO2e, while Scope 2 emissions amounted to approximately 11.1 million kg CO2e, and Scope 3 emissions were around 12.4 million kg CO2e. For 2022, Scope 1 emissions were approximately 12.5 million kg CO2e, Scope 2 emissions were about 105.9 million kg CO2e, and Scope 3 emissions were approximately 12.8 million kg CO2e.
SNB is committed to advancing the net-zero transition. As part of this commitment, the bank participated in renewable energy projects and acquired voluntary carbon credits, retiring a portion of these to offset Scope 1 and Scope 2 emissions. These initiatives aim to support the Public Investment Fund's renewable energy targets, with a goal of achieving 70% of Saudi Arabia's 58.7 GW renewable energy target by 2030. SNB's carbon reduction efforts are ongoing, with a focus on participating in projects that align with broader national and international climate objectives.
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Saudi National Bank’s Climate Goals (2030 & 2050)
2025
Near-zero scope 1 & 2
Target to achieve near-zero emissions for direct operations and purchased energy
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Emissions comparison with industry peers
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Saudi National Bank
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