Saudi National Bank Reports SAR 6.42B Net Profit in Three Months 2026
SNB 1180.SA | 0.00 |
On 2026-04-21 07:59:09 (Saudi Time), The Saudi National Bank announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 11,377 | 10,899 | 4.385 | 12,002 | -5.207 |
| Total Income From Special Commission of Investment | 3,383 | 3,422 | -1.139 | 3,660 | -7.568 |
| Net Income From Special Commission of Financing | 7,138 | 6,599 | 8.167 | 7,162 | -0.335 |
| Net Income From Special Commission of Investment | 358 | 652 | -45.092 | 344 | 4.069 |
| Total Operations Profit (Loss) | 9,650 | 9,612 | 0.395 | 9,927 | -2.79 |
| Net Profit (Loss) before Zakat and Income Tax | 7,289 | 6,719 | 8.483 | 7,036 | 3.595 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 6,423 | 6,022 | 6.658 | 6,385 | 0.595 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 5,146 | 6,891 | -25.322 | 6,046 | -14.885 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 2,801 | 2,727 | 2.713 | 1,889 | 48.279 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | -578 | 31 | - | 942 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Assets | 1,228,496 | 1,171,079 | 4.902 |
| Investments | 323,201 | 310,274 | 4.166 |
| Loans And Advances Portfolio (Financing And Investment) | 732,658 | 706,430 | 3.712 |
| Clients' deposits | 665,462 | 626,394 | 6.236 |
| Total Shareholders Equity (after Deducting Minority Equity) | 214,117 | 193,479 | 10.666 |
| Profit (Loss) per Share | 1.04 | 0.96 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
The Saudi National Bank's net profit attributable to shareholders increased 6.658% YoY to 6,423 million SAR, driven by higher total operating income which rose 0.395% and a significant 609 million SAR decrease in net impairment charges for expected credit losses. Total operating income growth was supported by a 4.385% increase in special commission income from financing, while total operating expenses remained relatively stable with only a 2.713% increase. The improved credit loss provisions and higher financing income were the primary drivers of the enhanced profitability despite modest revenue growth.
Quarter-on-Quarter Performance Drivers
QoQ special commission income declined 5.8% to SAR 14.76 billion due to decreases in both financing and investment income. Net profit attributable to shareholders increased marginally by 0.6% to SAR 6.42 billion, primarily driven by a 21.5% reduction in total operating expenses. The improvement was further supported by a significant decrease in net impairment charges for expected credit losses, which shifted from SAR 942 million in the previous quarter to a reversal of SAR 578 million in the current quarter.
Other Items
The Saudi National Bank received an unmodified conclusion from external auditors with no additional comments, disclaimers, or adverse opinions noted. Total assets grew 4.902% year-over-year to SAR 1,228,496 million, with the loans and advances portfolio expanding 3.712% to SAR 732,658 million. Customer deposits increased 6.236% to SAR 665,462 million. Total shareholders' equity strengthened by 10.666% to SAR 214,117 million compared to the previous year. Earnings per share improved to SAR 1.04 from SAR 0.96 in the comparable prior year period. The bank experienced a net reversal of expected credit losses of SAR 578 million in the current quarter compared to provisions of SAR 31 million in the same quarter last year.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94556&anCat=1&cs=1180&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.