SNB Nine-Month Profit Rises 4.6% to 19.5B SAR
Riyadh, Saudi Arabia — The Saudi National Bank (SNB) posted net profit attributable to shareholders of 19.479 billion SAR for the nine months ending September 30, 2026, up 4.6% from 18.628 billion SAR in the same period a year earlier. Higher operating income and a near-elimination of credit loss charges drove the improvement. Quarter-on-quarter, however, […] The post SNB Nine-Month Profit Rises…
The Saudi National Bank (SNB) reported a 4.6% increase in net profit for the nine months ending September 30, 2026, reaching 19.479 billion SAR. The improvement was driven by higher operating income and a significant reduction in credit loss charges. However, profit declined by 2.4% compared to the previous quarter, primarily due to falling investment gains and rising impairment costs.
Total operating income grew 4.6% to 30.599 billion SAR, while total assets reached 1.262 trillion SAR, up 4.3% from December 2025. Deposits grew 5.3% to 669.863 billion SAR, and shareholders' equity rose 6.5% to 209.283 billion SAR. Earnings per share for the period were 3.13 SAR, up from 2.99 SAR a year earlier. While SNB's nine-month earnings growth is solid, the sequential decline in Q3 profit highlights softening revenue momentum, particularly in trading and investment income.
The near-zero credit loss charge has been a key earnings tailwind, but its sustainability should be closely monitored as the bank's loan book expands. Operating costs are accelerating, with a 9.0% year-on-year increase in Q3 expenses driven by a 41.3% surge in depreciation and amortization. Investors should scrutinize the bank's cost-to-income trajectory as capital deployment in infrastructure, technology, or acquired assets flows through the income statement.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
