Business · Companies · 8 hrs ago
Al Rajhi Bank posts record quarterly profit for 11th straight quarter
Saudi Arabia’s Al Rajhi Bank earned 7.11 billion riyals in the third quarter of 2026, up 11.7% from a year earlier.
The bank said this was its 11th consecutive quarter of record profit, and its results exceeded the average analyst forecast.
A key driver was net income from financing and investment, which rose 18.1% even as the financing portfolio grew by only 2.5%.
Lower funding costs helped lift income year on year, although the amount the bank paid on financing rose compared with the previous quarter.
The bank’s operating income increased 12.5%, while operating expenses before provisions rose 6.4%, improving its expense-to-income ratio.
Credit-loss provisions climbed 49.5% to 852 million riyals, limiting how much of the operating improvement reached shareholders.
Financing grew faster than customer deposits, and the bank’s funding costs, provisions and deposit growth remain key indicators to watch.
Al Rajhi Bank reported a record profit of 7.11 billion riyals for the third quarter of 2026, its 11th consecutive quarter of record profits.
Net profit rose 11.7% from a year earlier, supported by higher net financing and investment income and lower funding costs.
Net financing and investment income increased 18.1% to 8.61 billion riyals, while the financing portfolio grew 2.5%.
Credit and other loss provisions rose 49.5% to 852 million riyals, limiting profit growth.
Customer deposits increased 0.9% to 700.3 billion riyals, less than the 2.5% growth in financing.
- Who
- Al Rajhi Bank.
- What
- It reported third-quarter net profit of 7.11 billion riyals, up 11.7% year on year.
- When
- The third quarter of 2026; the results were published on October 21, 2026.
- Where
- Not stated.
- Why
- Higher net financing and investment income and lower funding costs supported profit growth; rising provisions limited it.
This story does not have two clearly opposing sides.
Al Rajhi Bank recorded net profit of 7.11 billion riyals, up 11.7% from a year earlier.
Al Eqtisadiah published its report on the bank’s quarterly results.
- Net profit
- 7.11 billion riyals
- Year-on-year profit growth
- 11.7%
- Net financing and investment income
- 8.61 billion riyals
- Credit and other loss provisions
- 852 million riyals
- Financing portfolio
- 774.9 billion riyals
- Customer deposits
- 700.3 billion riyals