On 2026-07-21 08:00:56 (Saudi Time), The Saudi National Bank announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ending 30 June 2026, Total Operations Profit (Income) rose 5.81% YoY to SAR 20,233 million, driven by a 7.4% increase in net special commission income, a 3.0% rise in total investment gains/income, a 2.9% increase in fees from banking services, and a 20.8% increase in net exchange income, while total operating expenses declined 1.5% due to lower rent and premises-related expenses (down 8.9%) and reduced depreciation/amortisation (down 3.4%). Net profit attributable to shareholders grew 7.155% YoY to SAR 13,029 million, supported by the combined effect of higher operating income and lower operating expenses, alongside an increase in provision reversal for expected credit losses of 131.0%. Special commission income for the period rose 2.3% to SAR 30.2 billion, underpinned by a 2.8% increase from the financing portfolio and a 0.9% increase from the investments portfolio.

Quarter-on-Quarter Performance Drivers

QoQ net profit attributable to shareholders rose 2.849% to SAR 6,606 million in Q2 2026, driven by a 9.668% increase in total operating income to SAR 10,583 million, supported by higher net special commission income (+5.3%) and a surge in total investment gains/income (+102.0%). Special commission income grew 4.4% to SAR 15.4 billion, reflecting a 3.0% rise from the financing portfolio and an 8.9% rise from the investments portfolio. These gains were partially offset by a swing in net impairment charges, as expected credit loss provisions increased by 144.6% QoQ (from a reversal of SAR -578 million in the prior quarter to a charge of SAR 258 million in the current quarter).

Other Items

The external auditor issued an unmodified conclusion with no additional comments or qualifications noted. For the six-month period ending 30 June 2026, total assets reached SAR 1,244,688 million, up 3.637% YoY, with the bank noting total assets expanded by 2.9% compared to December 2025, driven by 1.4% growth in financing (including 2.4% retail and 0.5% wholesale) and 0.7% growth in the investments portfolio. Investments stood at SAR 322,219 million (+2.142% YoY), loans and advances at SAR 739,563 million (+3.458% YoY), and clients' deposits at SAR 698,170 million (+5.996% YoY), with the bank noting customers' deposits rose 9.8% compared to December 2025. Total shareholders' equity (after deducting minority equity) reached SAR 214,335 million (+8.646% YoY). Earnings per share for the current period were SAR 2.11, compared to SAR 1.95 for the same period of the prior year, with the bank noting EPS is calculated by dividing net income attributable to common equity holders (adjusted for Additional Tier 1 capital related costs) by the weighted average number of shares outstanding. Total comprehensive income attributable to shareholders declined 8.23% YoY to SAR 12,187 million, despite net profit growth. No material risks, going concern uncertainties, or accumulated loss disclosures were reported. Certain insignificant prior period figures have been reclassified to conform to current period presentation.

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