10 Hrs
Source:
النهار
Saudi bank profits beat forecasts
The Board of Directors of the National Commercial Bank has approved the distribution of cash dividends for the first half of 2026 amounting to $1.84 billion (6 billion SAR), following financial results that exceeded analyst expectations. The bank's net profit attributable to shareholders reached 6.6 billion SAR ($1.76 billion) in the second quarter, representing a 7.6% increase compared to the same period last year. This performance reflects an 11.3% rise in operating income, driven by growth in investment income sources and non-credit gains. The loan-to-deposit ratio also decreased to 106%. Additionally, the loan portfolio grew by 3.5% year-over-year, with the majority of growth concentrated in the retail sector. Meanwhile, provisions for credit losses increased by 251.8% in the second quarter, although there has been continued recovery of total provisions during the first half of the year.
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