By Staff Writer

Saudi Arabia’s Al Rajhi Bank, the largest Islamic bank globally by assets, reported Q2 2026 net profit attributable to shareholders of SAR 7 billion ($1.86 billion), 14% higher year-on-year (YoY) on the back of higher financing and investment income, which offset higher provisioning.

The profit came well above analysts’ mean estimate of SAR6.6 billion, according to data provider LSEG.

Operating profit was SAR 10.9 billion, 13% higher on year.

Net income from financing was 15% higher at SAR 7.3 billion while that from investment was 3% higher at SAR1 billion.

Net provisions for expected credit losses and other losses rose 47% on year to SAR 881 million.

For H1 2026, the bank reported 14% higher net profit YoY at SAR 13.8 billion, while assets edged 2% to SAR 1.05 trillion.

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@lseg.com