Riyadh – Mubasher: Saudi Awwal Bank (SAB) achieved a net profit of SAR 2.33 billion for the second quarter (Q2) of 2026, representing a 9.59% increase from SAR 2.13 billion in the same period the previous year.

The bank attributed the performance to a significant reduction in expected credit loss provisions, which fell by SAR 211 million, or 97.69%, to reach SAR 5 million during the quarter.

Net special commission income from financing rose by 2.43% to SAR 2.74 billion, supported by growth in the loan and advances portfolio. Total assets reached SAR 474.47 billion by 30 June 2026, a 9.45% increase compared to the previous year.

Customer deposits grew by 15.20% to SAR 342.16 billion, while the loans and advances portfolio expanded by 13.31% to SAR 320.21 billion.

For the first six months (6M) of 2026, the bank’s net profit reached SAR 4.42 billion, up 3.64% from SAR 4.26 billion in the prior-year period.

Earnings per share (EPS) for the half-year stood at SAR 1.96. Operating expenses before credit losses rose by 3.08% to SAR 2.21 billion, reflecting continued investment in digital capabilities and software capitalization.

Total shareholders' equity, excluding non-controlling interests, was recorded at SAR 80.88 billion.

As of 31 March 2026, the net profits to the owners dropped by 2.29% to SAR 2.08 billion from SAR 2.13 billion in Q1-25.