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Al-Awal posts 2.33B riyals Q2 2026
The article focused on the financial results of the Saudi First Bank for the second quarter of 2026. Net profits increased by 9.6% year-on-year, reaching 2.33 billion riyals, up from 2.13 billion riyals in the same period of the previous year. The profits also rose by 11.74% compared to the first quarter, which recorded 2.08 billion riyals. This growth is primarily attributed to an increase in net interest income and a decrease in provisions for expected credit losses, despite a decline in overall operating income, a reduction in the bank’s share of profits from associate companies, and higher operating expenses—particularly those related to investments in strengthening the bank’s digital capabilities through depreciation and amortization costs. The report also indicated that profits for the first half of the year increased by 3.63%, reaching 4.42 billion riyals compared to 4.26 billion riyals in the same period last year.
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