Bank Albilad announced today (Monday) its preliminary financial results for the first half of 2026, recording a net profit attributable to shareholders of SAR 1.53 billion, compared to SAR 1.47 billion for the same period of 2025, an increase of 4.2%.

The bank explained in a disclosure on 'Tadawul' that total operating profit rose to SAR 3.14 billion, a year-on-year growth of 4.6%, while net profit before zakat and tax reached SAR 1.70 billion, up 4.2%.

SAR 791.6 million net profit for Q2 with annual growth of 3.4%

For Q2 2026, the bank posted a net profit attributable to shareholders of SAR 791.6 million, compared to SAR 765.8 million in the same quarter last year, a growth of 3.4%, and also up 7.6% compared to Q1 of this year.

The bank attributed the profit growth in Q2 to a 5% rise in total operating income, supported by growth in net income from investment and financing assets and other operating income, despite a decline in net fee and commission income and some other revenue items. Operating expenses also increased by 6%, due to higher general and administrative expenses, salaries expenses, credit loss provisions, and depreciation and amortization.

During the first half of the year, net income from investment and financing assets increased by 8%, driven by a 12% rise in income from investment and financing assets, against a 17% increase in returns on deposits and financial liabilities.

Customer deposits recorded strong growth of 18.8% to reach SAR 147.19 billion by end of June 2026, compared to SAR 123.93 billion in the same period last year. The financing and investment portfolio rose by 15.3% to SAR 133.42 billion, while assets grew by 15.2% to SAR 186.48 billion.

Investments also increased to SAR 32.11 billion, up 12.1%, while shareholders' equity rose by 14.5% to SAR 23.77 billion.

In contrast, net provision for credit losses and other losses during the first half increased by 25.2% to SAR 127.3 million, due to higher credit loss provisions related to financing.

Total comprehensive income attributable to shareholders reached SAR 1.59 billion during the first half of the year, compared to SAR 1.62 billion for the same period of 2025, a slight decline of 1.5%, while earnings per share stabilized at SAR 0.97 versus SAR 0.98 in the comparative period.