Saudi Investment Bank achieved quarterly results that exceeded analysts' expectations in the second quarter of 2026, benefiting from growth in investment income and foreign exchange fees, despite pressures on net special commission income and higher credit loss provisions.

The bank announced a net profit of SAR 531.1 million ($141.6 million) in the second quarter, up 3.6% year-on-year, exceeding the average analysts' estimate of SAR 519.3 million ($138.5 million). It also maintained a stable growth pace compared to the first quarter, which recorded a growth of 3.2%.

The bank explained in a disclosure to the Saudi stock market (Tadawul) that profit growth was supported by higher unrealized gains from financial instruments measured at fair value through profit or loss, increased foreign exchange income, gains from derecognition of debt securities classified at fair value through other comprehensive income, and growth in banking service fees, which partially offset the decline in net special commission income.

On the other hand, total operating expenses increased by 2.3%, driven by higher employee salaries and benefits, and a 10% rise in credit loss and other provisions to SAR 70.4 million ($18.8 million), along with higher building rent and operating expenses, which limited profit growth momentum.

With the announcement of Saudi Investment Bank's results, all listed Saudi banks have disclosed their financial results for the second quarter of 2026, with the sector's aggregate profits reaching SAR 24.9 billion ($6.64 billion), up 8.2% year-on-year, exceeding the average analysts' estimate of SAR 23.5 billion ($6.27 billion).

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