Saudi Awwal Bank’s net profit attributable to shareholders rose 1% to SR2.165 billion in the third quarter of 2026, from SR2.144 billion a year earlier, the lender known as SAB said in a Saudi Exchange filing on Wednesday.
Profit fell 7.1% from SR2.331 billion in the second quarter, as the bank set aside more for expected credit losses.
Net provisions for expected credit losses rose to SR362 million in the quarter ended September 30, from SR82 million a year earlier and SR5 million in the previous quarter. SAB said the higher charges on loans and off-balance sheet exposures were idiosyncratic and based on revised forward-looking modeling, and that current asset quality remained robust.
Total operating income rose 5.3% to SR3.84 billion, helped by higher net special commission income and exchange income. The bank said fee and commission income fell after new regulations affected credit card fees.
A lower income tax charge also supported the quarterly result, the filing showed.
For the first nine months of 2026, net profit rose 2.8% to SR6.58 billion, from SR6.41 billion a year earlier. Earnings per share were SR2.94, compared with SR2.93.
Loans and advances grew 11% from a year earlier to SR325.2 billion at the end of September. Customer deposits rose 3.3% to SR325.4 billion, and total assets reached SR474 billion, up 6.4%.
