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First Bank's profit rises 9.6% on credit loss cut
Saudi First Bank's profits rose by 9.6% year-over-year in the second quarter of 2026, reaching 2.33 billion SAR, supported by growth in net commission income and a reduction in credit loss provisions. Despite a decline in operational income due to lower foreign exchange profits and fees, the increase in net commissions and income from financial instruments helped improve overall performance. Additionally, the bank signed a financing agreement worth 6.4 billion SAR with "Alwana" Company. The quarter's results focused on increased expenses driven by investments in digital capabilities, while the bank's share of profits from the associate company decreased due to reduced activity in the financial markets.
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