Alinma Bank (1150) Q3 2026 earnings summary

Executive summary

• 9M 2026 net income rose 4% YoY to SAR 4,862mn; operating income increased 6% to SAR 9,260mn and ROE was 17.6%.

• Financing and assets each grew 10% YTD, while customer deposits increased 11% to SAR 251.9bn.

Financial highlights

• 9M funded income rose 10% YoY, while funded gross income increased 7% to SAR 13,712mn; non-funded income fell 8% to SAR 1,653mn.

• Q3 net income was SAR 1,588mn, flat YoY; 9M EPS was SAR 1.42 versus SAR 1.43.

• 9M operating expenses increased 5% to SAR 2,883mn; financing impairment charges rose 26% to SAR 943mn.

• Total assets reached SAR 341.4bn, gross financing SAR 257.2bn and net financing SAR 252.7bn at Sep. 30, 2026.

• Net cash generated from operating activities was SAR 4.99bn; period-end cash and cash equivalents were SAR 8.51bn.

Outlook and guidance

• FY 2026 financing growth guidance is low teens, with continued growth targeted across corporate, Mid-Corp, SME and retail.

• FY 2026 net profit margin guidance is flat; cost-to-income target is below 31%, and ROE guidance is ~17%.

• Cost-of-risk guidance increased to 55-65 bps from 45-55 bps, reflecting a more cautious credit outlook.

• 2030 targets include low-double-digit asset CAGR, ROE above 22%, cost-to-income below 29% and Pillar 1 CAR above 18%.

• Geopolitical volatility after period-end may heighten credit, liquidity and operational risks; potential financial impact remains uncertain.