Arab National Bank(1080.SA) and Bank Albilad(1140.SA) became the first two of Saudi Arabia's ten Tadawul-listed banks to publish second-quarter 2026 results, both out on July 20. With our pre-earnings consensus numbers already on the table, here's how the actual prints stack up — and what they suggest for the eight banks still to come.

The Numbers vs. The Estimates

*Consensus from our pre-earnings preview (4 and 6 analysts polled, respectively)

ANB reversed the expected trend. The pre-earnings consensus had ANB's profit dipping 2% YoY and stepping down from Q1's SAR 1,359mn — one of three banks in our preview flagged for an expected sequential pullback. Instead, ANB grew both YoY and QoQ, coming in about 9% above estimate. The filing attributes this to gains on FVSI and non-trading instruments, exchange income and net special commission income, plus a 16.7% YoY drop in the quarter's credit-loss provisions. H1 profit reached SAR 2,782mn, +5.4% YoY.

Bank Albilad delivered almost exactly what was expected. Profit of SAR 791.6mn was a rounding error from the SAR 786mn estimate, and the +3.4% YoY growth matched the +3% forecast closely. This also lines up with our preview, which flagged Albilad (alongside Bank AlJazira) as one of the names expected to show the most visible sequential improvement — its +7.6% QoQ gain is roughly in line with that call.

Read more: Which Saudi Banks Are Set to Beat Q2? The Early Data Is Already In

Reading Across the Balance Sheet

Both banks' loan books grew faster than the broader sector. ANB's loans were up 10.4% YoY and Albilad's up 15.3% YoY, both as of the June 30, 2026 balance-sheet date — above the roughly 7% YoY sector-wide loan growth SAMA reported through May 2026. Worth flagging: the SAMA figure is a one-month-earlier snapshot, so it's a directional comparison rather than a perfectly matched one.

Albilad's YoY growth also picked up versus where it stood at the end of Q1 2026: our preview's Q1 2026 table had its assets, loans and deposits growing 13%, 15% and 13% YoY; the actual filing shows 15.2%, 15.3% and 18.8% YoY as of quarter-end. These are the same type of figure (YoY growth of a point-in-time balance) measured three months apart, not six-month flow numbers, so the comparison is fair — but one nuance: in that same Q1 2026 table, Albilad led the sector on loan growth specifically, not on assets (Riyad Bank was fastest, at 15%) or deposits (SAIB was fastest, at 21%). Whether Albilad still leads on loans — or has moved up on the other two metrics — once the remaining nine banks report isn't confirmable yet.

One divergence worth flagging, without over-reading it — and this comparison is a clean like-for-like, since both figures are cumulative H1 2026 totals: ANB's total provisions for expected credit losses fell 25.4% YoY (SAR 315mn vs SAR 422mn), while Albilad's rose 25.2% YoY (SAR 127.3mn vs SAR 101.7mn). That's not necessarily a red flag — Albilad's NPL ratio (1.19% as of Q1 2026, above the 1.05% sector average) was already a touch higher than ANB's (0.94%) — but it's a reminder that "sector credit quality is resilient" doesn't mean every name moves the same way.

What to Watch as the Rest of the Sector Reports

• The Saudi National Bank(1180.SA), next data point on the "sequential dip" call. Our preview grouped ANB and SNB together as the two banks expected to ease back from Q1. ANB didn't play out that way — worth watching whether SNB does when it reports.
• Estimate dispersion is unusually wide for Al Rajhi Bank(1120.SA) and The Saudi National Bank(1180.SA). Our preview's polled consensus has Al Rajhi at +12% YoY and SNB at +1% YoY for Q2. Egyptian investment bank EFG Hermes, in a separate July 17 forecast reported by AGBI, has it essentially the other way — Al Rajhi at +3% YoY and SNB at +10% YoY, both "near flat" versus their strong Q1. That's a meaningful gap between two public estimates for the same names, worth having in mind before either headline print lands.
• Provisioning read-through from the region. UBS's Mena equity research head noted that Qatar National Bank — which typically reports before the Saudi banks — posted "very benign" Q2 provisioning, an early positive signal for Gulf lenders generally. Arab National Bank(1080.SA)'s own provisions fell too; whether that holds for banks with higher NPL ratios in our preview data (Saudi Awwal Bank(1060.SA) at 2.45%, Bank Aljazira(1020.SA) at 1.32%) is a natural next check.
• Loan growth vs. mortgage drag. Sector loan growth was running near 7% YoY through May per SAMA, with new mortgage lending down 22% YoY over the same period. Arab National Bank(1080.SA) and Bank Albilad(1140.SA) are both comfortably above that pace so far; whether more mortgage-exposed names show softer growth is worth tracking.
• Running tally vs. the SAR 23.90bn sector estimate. Arab National Bank(1080.SA) and Bank Albilad(1140.SA)'s combined actual profit (SAR 2,214.6mn) came in about 6% above their combined estimate (SAR 2,089mn). Not enough banks have reported to extrapolate, but it's a starting point to track against as the rest of the sector files.
• Calendar. Al Rajhi Bank(1120.SA) is next up, currently expected around July 27 per data compiled by Investing.com, or could be earlier, with most of the remaining bank names likely to follow over the coming week.

Based on official company disclosures via Saudi Exchange filings, our own pre-earnings analyst-consensus preview, and third-party reporting (AGBI, EFG Hermes, Investing.com) as of July 20, 2026. For informational tracking purposes only — not investment advice.

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Bank Albilad(1140.SA) announces its Interim Financial Results for the Period Ended on 2026-06-30 ( Six Months )

Arab National Bank(1080.SA) announces its Interim Financial Results for the Period Ending on 2026-06-30 ( Six Months )