Riyadh, January 27, 2026 – Saudi Arabia’s two largest lenders, Al Rajhi Bank(1120.SA) and The Saudi National Bank(1180.SA), kicked off the earnings season with strong financial results for the fiscal year ending December 31, 2025. Both banks reported double-digit net profit growth and exceeded analyst expectations, driven by robust operating income and balance sheet expansion.

Following the announcements on Tuesday morning, shares of Al Rajhi Bank(1120.SA) rose more than 0.5% at the market open, and The Saudi National Bank(1180.SA) surged more than 1%.

Al Rajhi Bank: Strong Income Drives 26% Profit Surge

Al Rajhi Bank(1120.SA), a dominant player in the retail banking sector, reported a 25.71% increase in net profit attributable to shareholders, reaching SAR 24.79 billion for FY 2025, up from SAR 19.72 billion in the previous year.

• Beating Consensus: The result slightly exceeded the average estimate of SAR 24.715 billion forecast by a consensus of 15 analysts.
• Key Drivers: According to the bank's filing with the Saudi Exchange, the profit surge was fueled by a 22% jump in total operating income, which hit SAR 39.09 billion. This growth was underpinned by higher net financing and investment income, as well as an increase in banking service fees and exchange income.
• Balance Sheet: The bank’s total assets crossed the trillion-riyal mark, growing 7.28% to SAR 1.04 trillion. The loan portfolio expanded by 8.56% to SAR 752.76 billion, while client deposits rose nearly 2% to SAR 667.29 billion.
• Provisions: Despite the strong top-line growth, the bank noted a 9.6% increase in impairment charges for financing, rising to SAR 2.32 billion, reflecting a prudent approach to risk management.

Saudi National Bank (SNB): Efficiency and Asset Growth Boost Earnings

The Saudi National Bank(1180.SA), the Kingdom’s largest lender by assets, posted an 18.02% rise in net profit attributable to shareholders, reaching SAR 25.01 billion compared to SAR 21.19 billion in 2024.

• Beating Consensus: SNB’s performance also topped market expectations, surpassing the consensus estimate of SAR 24.816 billion derived from 12 analysts.
• Key Drivers: SNB attributed its profit growth to a dual engine of higher income and improved efficiency. Total operating income rose 8.8% to SAR 39.2 billion, supported by growth in special commission income and a notable 31.9% spike in investment income. Simultaneously, the bank successfully reduced total operating expenses by 9.4%, primarily due to lower depreciation costs and a release of provisions that were no longer required.
• Asset Expansion: SNB cemented its position with total assets climbing 9.59% to SAR 1.21 trillion. The bank saw significant lending activity, with its financing portfolio growing 11.47% to SAR 729.31 billion, driven by a 20.7% surge in wholesale financing and a 7.7% rise in mortgage lending. Client deposits also showed strong momentum, increasing 9.72% to SAR 636.09 billion.

(Source: Data derived from official announcements on the Saudi Exchange and analyst consensus estimates as of January 26, 2026.)