RIYADH: Saudi lenders Bank Albilad and Arab National Bank reported higher second-quarter profits as stronger financing income and operating revenue boosted earnings, latest bourse filings showed.
Bank Albilad posted a 3.4 percent year-on-year increase in second-quarter net profit attributable to shareholders to SR791.6 million ($210.6 million), while Arab National Bank reported a 6.5 percent rise to SR1.42 billion, according to interim financial statements for the period ended June 30.
The earnings come as Saudi banks continue to benefit from solid credit demand despite expectations of moderating profitability across the Gulf.
Earlier this month, S&P Global Ratings said it expects Gulf Cooperation Council banks’ profitability to edge lower in 2026 and 2027 because of higher credit costs and slower loan growth, although stable interest rates and stronger efficiency are expected to provide support.
In a bourse filing, Bank Albilad said: “Net income has increased due to the increase in total operating income by 5 percent, which is mainly due to the increase in net income from investing and financing assets, other operating income, and net gain on fair value through statement of income instruments.”
