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Bank Albilad Q3 profits reach 740M riyals
Bank Saudi Arabia announced its financial results for the third quarter of 2026, with net profits decreasing by 3.43% year-over-year to reach 740.2 million riyals, compared to 766.5 million riyals in the same period of 2025. The decline is attributed to a 16% increase in operating expenses due to rises in general and administrative expenses and credit loss provisions, despite a 5% increase in operating income to 1.62 billion riyals. During the first nine months of 2026, net profit grew by 1.56% to 2.27 billion riyals, supported by an 11.4% increase in the loan and advance portfolio and a 12.7% rise in customer deposits, while total assets increased by 10.7%. Despite the growth in the bank’s profits, net credit loss provisions surged by 55.7%, leading to higher costs. The bank continues to show significant growth in assets and revenues.
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