Logo of Saudi National Bank (SNB) and Logo ofAl Rajhi Bank
Saudi National Bank (SNB) and Al Rajhi Bank, the two largest lenders listed on the Saudi Exchange (Tadawul), announced their third-quarter 2026 financial results. 
Al Rajhi Bank’s net profit rose 11.7% to SAR 7.11 billion in Q3 2026, compared to SAR 6.36 billion. Meanwhile, SNB’s Q3 2026 net profit inched lower by 0.3% year-on-year (YoY) to SAR 6.45 billion.
The earnings gap between the two banks widened to nearly SAR 656 million in Al Rajhi Bank’s favor in Q3 2026, compared to around SAR 406 million in Q2 2026.
Al Rajhi Bank and SNB stocks ended Tuesday’s trading session at SAR 60.15 and SAR 36.54, respectively.
SNB vs Al Rajhi Bank after Q3 2026
Metric
Al Rajhi Bank
SNB
Share Closing Price (Oct. 20, 2026) (SAR)
60.15
36.54
Net profit (SAR bln)
7.11
6.45
YoY Profit Growth
+11.7%
(0.3%)
Net Interest Income (SAR bln)
7.66
7.62
Net Financing Income Growth
+20.3%
+5.0%
Net Investment Income (SAR mln)
955
431
Net Investment Income Growth
+3.2%
+762%
Total Operating Income (SAR bln)
11.12
10.37
Total Operating Income Growth
12.50%
2.20%
Net Credit Loss Provision (SAR mln)
(852)
(323)
Provision Growth
+49.5%
+39.8%
P/E Ratio* (x)
13.25
8.48
Return on Equity (RoE)*
23.53%
14.14%
Assets (SAR bln)
1075.64
1262.27
Assets Growth
+1.8%
+4.6%
Financing Portfolio (SAR bln)
774.86
758.10
Financing Portfolio Growth
+2.5%
+4.6%
Customer Deposits (SAR bln)
700.28
669.86
Customer Deposits Growth
+0.9%
+4.7%
*P/E Ratio was calculated based on the closing price on Oct. 20, 2026 and EPS for the last 12 months, as well as RoE for the last 12 months.
Al Rajhi Bank reported net profit growth, supported by higher net financing and investment income and banking service fees, despite higher credit loss provisions in during Q3.
By contrast, SNB’s profit declined slightly due to higher operating expenses and credit loss provisions, despite an increase in net financing and investment income.
Al Rajhi Bank outperformed in terms of financing portfolio and customer deposits, while SNB retained its lead in total assets. SNB also recorded higher growth rates in financing and deposits.
In terms of valuation and profitability, Al Rajhi Bank posted a higher RoE, while SNB’s P/E ratio stood at 8.48x, compared to 13.25x for Al Rajhi Bank.
Logo of Saudi National Bank (SNB) and Logo ofAl Rajhi Bank
Saudi National Bank (SNB) and Al Rajhi Bank, the two largest lenders listed on the Saudi Exchange (Tadawul), announced their third-quarter 2026 financial results.
Al Rajhi Bank’s net profit rose 11.7% to SAR 7.11 billion in Q3 2026, compared to SAR 6.36 billion. Meanwhile, SNB’s Q3 2026 net profit inched lower by 0.3% year-on-year (YoY) to SAR 6.45 billion.
The earnings gap between the two banks widened to nearly SAR 656 million in Al Rajhi Bank’s favor in Q3 2026, compared to around SAR 406 million in Q2 2026.
Al Rajhi Bank and SNB stocks ended Tuesday’s trading session at SAR 60.15 and SAR 36.54, respectively.
SNB vs Al Rajhi Bank after Q3 2026
Metric
Al Rajhi Bank
SNB
Share Closing Price (Oct. 20, 2026) (SAR)
60.15
36.54
Net profit (SAR bln)
7.11
6.45
YoY Profit Growth
+11.7%
(0.3%)
Net Interest Income (SAR bln)
7.66
7.62
Net Financing Income Growth
+20.3%
+5.0%
Net Investment Income (SAR mln)
955
431
Net Investment Income Growth
+3.2%
+762%
Total Operating Income (SAR bln)
11.12
10.37
Total Operating Income Growth
12.50%
2.20%
Net Credit Loss Provision (SAR mln)
(852)
(323)
Provision Growth
+49.5%
+39.8%
P/E Ratio* (x)
13.25
8.48
Return on Equity (RoE)*
23.53%
14.14%
Assets (SAR bln)
1075.64
1262.27
Assets Growth
+1.8%
+4.6%
Financing Portfolio (SAR bln)
774.86
758.10
Financing Portfolio Growth
+2.5%
+4.6%
Customer Deposits (SAR bln)
700.28
669.86
Customer Deposits Growth
+0.9%
+4.7%
*P/E Ratio was calculated based on the closing price on Oct. 20, 2026 and EPS for the last 12 months, as well as RoE for the last 12 months.
Al Rajhi Bank reported net profit growth, supported by higher net financing and investment income and banking service fees, despite higher credit loss provisions in during Q3.
By contrast, SNB’s profit declined slightly due to higher operating expenses and credit loss provisions, despite an increase in net financing and investment income.
Al Rajhi Bank outperformed in terms of financing portfolio and customer deposits, while SNB retained its lead in total assets. SNB also recorded higher growth rates in financing and deposits.
In terms of valuation and profitability, Al Rajhi Bank posted a higher RoE, while SNB’s P/E ratio stood at 8.48x, compared to 13.25x for Al Rajhi Bank.
