Al Jazeera Capital Comments on Al Rajhi Bank's Results and Maintains Its Recommendation for the Stock

Al Rajhi Bank logo

Al Jazeera Capital said that Al Rajhi Bank's net profit in the second quarter of 2026, amounting to SAR 7,012 million, came slightly higher than its forecast of SAR 6,830 million and the average estimate of SAR 6,830 million. In its report, the company explained that profit growth was supported by a decline in the effective Zakat and tax rate to 7.7% during the quarter, along with an exceptional increase in non-funded income, adding that returns and provisions income came below expectations. It added that net income from special commissions rose to SAR 8.31 billion, but came below its forecast of SAR 8.61 billion, while non-commission income rose to SAR 2.58 billion, exceeding its forecast of SAR 2.21 billion. Al Jazeera Capital maintained its neutral recommendation on Al Rajhi Bank, keeping the target price for the stock at SAR 71.3.

Al Jazeera Capital - Al Rajhi Bank - 2026/07/21 (Report in Arabic)

Saudi Corporate Earnings Expectations

Saudi Stock Recommendations

{{displayname}}

{{profession}}

{{aboutme}}