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Source:
الاقتصادية
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Al-Rajhi profits beat forecasts
Al Rajhi Bank achieved a net profit of 7.01 billion SAR in the second quarter of 2026, surpassing analysts' expectations by 3.4%, and recording a 14% year-over-year increase. However, the bank's stock declined by approximately 2% after the announcement, due to investors' focus on the quality and future sustainability of growth sources—especially with an increase in provisions to the highest level since 2013, totaling 881 million SAR, representing a 47% annual rise. The results also reflected higher costs related to credit loss provisions, which rose to approach the upper limit of the bank's guidance, impacting quarterly growth. The overall performance depends on non-financing income growth and the sustainability of revenue sources to ensure future stability for the bank.
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