13 Hrs
Source:
الاقتصادية
TASI Banks Show Sector Optimism
The results for the third quarter of 2026 showed that PSF Bank achieved strong performance in the Saudi banking sector, with profits surpassing expectations to reach 1.51 billion riyals—a 11.5% increase year-on-year. This growth was driven by improved net interest margins resulting from rising interest rates, along with a slight increase in the loan portfolio, which amounted to 230.4 billion riyals. The bank particularly benefited from the variable-rate corporate loans, which make up 80% of its portfolio. Operating income also posted solid results, with more than a 10% growth in earnings from other operating activities, despite deposit growth slowing to 9.3%. The ratio of non-interest-bearing deposits rose to 41%. Overall, the bank's strong performance reflects a recovery in the Saudi banking sector, with improved margins and increased operating income despite challenges in the deposit market.
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