SAB’s net profits up 3% in 9M-26; operating income hits SAR 11.1bn

SAB
1060 -0.43% 32.42 -0.14

Riyadh – Mubasher: Saudi Awwal Bank (SAB) registered net profits amounting to SAR 6.58 billion in the first nine months (9M) of 2026, an annual rise of 2.76% from SAR 6.41 billion.

The operating income grew by 1.15% year-on-year (YoY) to SAR 11.12 billion, alongside a reduction in income tax provisions.

Total assets hit SAR 474.01 billion as of 30 September 2026, up 6.41% YoY.

The loans and advances portfolio climbed by 11.02% to SAR 325.20 billion, while customer deposits increased by 3.29% to SAR 325.43 billion.

Earnings per share (EPS) went up to SAR 2.94 in 9M-26 from SAR 2.93 in the previous year.

For the third quarter (Q3) of 2026, net profit reached SAR 2.17 billion, a marginal rise of 0.98% compared to SAR 2.14 billion in Q3-25.

Total operating income for the quarter jumped by 5.26% to SAR 3.84 billion. However, the bank recorded a significant increase in net impairment charges for expected credit losses, which surged by SAR 280 million to SAR 362 million from SAR 82 million a year earlier.

For the first half (H1) of 2026, the bank’s net profit soared by 3.64% YoY to SAR 4.42 billion from SAR 4.26 billion.

Source: Mubasher Source: {{details.article.source}}