The Saudi National Bank (1180) investor relations material

Executive summary

• Net income for Q1 2026 reached 6.43 billion, up 7% year-over-year, driven by growth in net special commission income and strong credit quality.

• Total assets grew to 1.23 trillion as of March 2026, a record high, up 2% year-to-date.

• Operating income for the quarter was 9.7 billion, nearly flat year-over-year.

• Basic and diluted EPS rose to 1.04, up 8% year-over-year.

Financial highlights

• Net special commission income increased to 7.50 billion, up 3% year-over-year.

• Fee income from banking services, net, rose to 1.31 billion, but total fee and other income declined 9% YoY to 2.2 billion due to lower investment-related income.

• Total operating expenses before ECL were 2.80 billion, while operating expenses excluding amortization rose 3% YoY to 2.6 billion.

• Impairment charge for ECL showed a net reversal of 578 million, reflecting strong credit quality.

• Total equity increased to 214.7 billion from 194.1 billion year-over-year.

Outlook and guidance

• Management is closely monitoring geopolitical risks and macroeconomic conditions, with ongoing stress testing and scenario analysis.

• Ongoing cost optimization initiatives are expected to offset expense growth.

• Stable liquidity and strong capitalization position the group well for future growth.

• The impact of recent geopolitical events on credit losses was immaterial for Q1, but ongoing assessment continues.