Al Rajhi Bank’s profit grows 14% to SAR 13.8B in H1 2026; Q2 at SAR 7B

Al Rajhi Bank reported a net profit of SAR 13.8 billion for the first six months of 2026, an increase of 14% from SAR 12.1 billion in the year-earlier period.

Noting the key drivers for its profit growth in H1 2026, Al Rajhi Bank said net income from financing and investment increased 16%, boosting total operating income by 13.9%.

Depreciation expense declined.

This was partially offset by a decline in gross returns on financing and investment and lower other operating income.

The lender also reported an 18.8% increase in total operating expenses, including expected credit loss (ECL) provisions, driven by higher general and administrative expenses and employee salaries and benefits.

It reported a 34.4% increase in ECL provisions to SAR 1.51 billion from SAR 1.12 billion. This reflected a 27.5% rise in total additions, alongside a 21.4% increase in recoveries from written-off financing compared with the same period last year.

In Q2 2026, net earnings rose 14% to SAR 7 billion from SAR 6.2 billion a year earlier, due to a 13.7% increase in net income from financing and investment and a 13.3% increase in total operating income.

On a sequential basis, net earnings grew 3.9% from SAR 6.75 billion in Q1 2026.

Total shareholders’ equity, excluding minority interest and sukuk, reached SAR 120.67 billion by June 30, 2026, compared to SAR 104.99 billion in the year-earlier period.

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