Al Rajhi Bank's profits in the second quarter of this year rose 14% year-on-year to 7 billion Saudi riyals, compared to 6.1 billion riyals in the same quarter of the previous year.

The bank explained in a statement on Tadawul on Tuesday that net income grew due to a 13.3% increase in total operating income, mainly driven by higher net finance and investment income, banking service fees, and foreign currency exchange income. This was offset by a decrease in other operating income.

Sun, 19 2026

In contrast, total operating expenses including credit loss allowance rose 19.4% due to an increase in general and administrative expenses, salaries and employee benefits, offset by a decrease in depreciation expense, in addition to a 46.8% rise in credit loss allowance to 881 million riyals.

Net finance and investment income increased by 13.7%, mainly due to a rise in total income from finance and investment, offset by a decrease in total returns from finance and investment.

Al Rajhi, which is the largest financial institution in Saudi Arabia by market value of 391.2 billion riyals, was founded in 1978 with a capital of 60 billion riyals, and was listed on the Saudi Stock Exchange in 1988.