Saudi Awwal Bank (1060) Q3 2026 earnings summary

Executive summary

• 9M26 net income after Zakat and tax was SAR 6,582,187 thousand, up 3% YoY; EPS was SAR 2.94 vs SAR 2.93.

• Q3 revenue rose 5% QoQ to SAR 3.841bn as margins expanded and non-funds income strengthened; gross loans grew 4% QoQ and 13% YoY.

• Strategic delivery has shifted from post-merger integration to growth, with faster-than-market lending and improving cost efficiency.

Financial highlights

• 9M26 operating income was SAR 11,116,485 thousand, up 1% YoY; pre-provision profit was SAR 7.770bn, up 1%.

• Q3 revenue was SAR 3.841bn, up 5% QoQ; non-funds income rose 8% sequentially, led by FX flows and trading income.

• 9M26 operating expenses were SAR 3,346,595 thousand, up 2% YoY; net income after Zakat and tax was SAR 6,582,187 thousand, up 3%.

• 9M26 net ECL charge was SAR 533,816 thousand vs SAR 440,341 thousand; Q3 charge was SAR 362m, reflecting added coverage on specific accounts.

• 9M26 net special commission income was SAR 8,891,497 thousand; net fee and commission income was SAR 831,718 thousand.

Outlook and guidance

• FY26 loan growth guidance is above 10%; lending growth is being flexed in H2 to closer to market levels.

• FY26 NIM guidance is 2.55%–2.60%; Q3 QTD NIM of 2.59% benefited from customer repricing.

• FY26 cost-efficiency guidance is ~30%, ROTE ~14%, and CET1 above 14%.

• Cost-of-risk guidance is 25–35bps, with expected performance toward the range midpoint; additional ECL provisions may be released if no longer required.