12 Hrs
Source:
الاقتصادية
Al-Rajhi Achieves 11th Straight Profit Quarter
Al Rajhi Bank achieved profits of 7.11 billion riyals during the third quarter of 2026, marking an 11.7% year-over-year increase, driven by improved financing income and lower cost of funds. Despite a slowdown in the growth of the loan and deposit portfolios, profits are no longer primarily dependent on expanding lending, as the financing portfolio grew by only 2.5%, while financing and investment revenues increased by 18.1%. Additionally, the results showed an increase in provisions and a slowing of growth pace, with financing continuing to rise while deposits remained stable, reflecting the bank's ability to improve financial performance despite pressures.
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