By Staff Writer

Saudi Arabia's Riyad Bank reported a 2% year-on-year increase in net profit for the second quarter of 2026, supported by higher operating income despite a rise in impairment charges.

Net profit for the quarter reached SAR 2.65 billion ($700 million), while operating income increased 5% year-on-year to SAR 4.73 billion.

Net provisions for expected credit losses and other losses rose 29% compared with the same period last year.

For the first half of 2026, net profit grew 4% year-on-year to SAR 5.26 billion. Total assets increased 9% to SAR 534 billion.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com