Saudi Banks Q2 Profits Exceed Expectations
Aljazira Capital, a research firm, indicated that profits in the Saudi banking sector increased by 8.2% in the second quarter of 2026 compared to the same period last year, reaching 24.9 billion riyals, despite a 33.5% rise in provisions. The sector experienced growth in interest income by 8.9% and an increase in net interest margin, with 9 out of 10 banks posting profits above expectations. Loans and advances also grew by 6.9%, and deposits rose by 9.7%, while the loan-to-deposit ratio decreased both naturally and systematically. The results showed an increase in the non-performing loan ratio to 1.00% and a coverage ratio rising to 140.3%. Al Rajhi Bank distinguished itself with a capital adequacy ratio of 23.5%.
Notice: This Is an AI-Generated Summary
Comments (0)