Logos ofSaudi National Bank (SNB) and Al Rajhi Bank
Saudi National Bank (SNB) and Al Rajhi Bank, the two largest lenders listed on the Saudi Exchange (Tadawul), announced their annual financial results for the first quarter of 2026, with evident differences in their operational performance. 
Although both banks recorded an increase in profit during the three-month period, the quality and sources of income differed.
Al Rajhi Bank posted stronger growth, driven by financing activity and higher core operating income, while SNB partly benefited from non-operating factors related to provisions, which affected the quality of earnings during the period.
SNB vs Al Rajhi Bank after Q1 2026
Metric
Al Rajhi Bank
SNB
Closing Price (Apr 20, 2026) (SAR)
71.40*
41.70
Net profit (SAR bln)
6.75
6.42
YoY Profit Growth
14.3%
6.7%
Net Financing Income Growth
20.7%
8.2%
Net Investment Income Growth
2.6%
(45%)
Total Operating Income Growth
14.4%
0.40%
Provisions (Q1 2026) (SAR mln)
631
(578)
P/E Ratio (x) (Last 12 Months)
17.67
10.18
Return on Equity (ROE)
22.70%
13.93%
Assets (SAR bln)
1051.27
1228.50
Assets Growth
3%
4.9%
Loans Financing (SAR bln)
753.73
732.66
Financing Growth
4.3%
3.7%
Customer Deposits (SAR bln)
678.73
665.46
Deposits Growth
3.3%
6.2%
EPS (SAR)**
1.06
1.04
**Includes sukuk costs and treasury shares
Al Rajhi Bank delivered stronger profit growth, driven by higher financing income, which reflects robust core activity. Meanwhile, SNB saw slower profit growth despite similar profitability as Al Rajhi Bank.
Logos ofSaudi National Bank (SNB) and Al Rajhi Bank
Saudi National Bank (SNB) and Al Rajhi Bank, the two largest lenders listed on the Saudi Exchange (Tadawul), announced their annual financial results for the first quarter of 2026, with evident differences in their operational performance.
Although both banks recorded an increase in profit during the three-month period, the quality and sources of income differed.
Al Rajhi Bank posted stronger growth, driven by financing activity and higher core operating income, while SNB partly benefited from non-operating factors related to provisions, which affected the quality of earnings during the period.
SNB vs Al Rajhi Bank after Q1 2026
Metric
Al Rajhi Bank
SNB
Closing Price (Apr 20, 2026) (SAR)
71.40*
41.70
Net profit (SAR bln)
6.75
6.42
YoY Profit Growth
14.3%
6.7%
Net Financing Income Growth
20.7%
8.2%
Net Investment Income Growth
2.6%
(45%)
Total Operating Income Growth
14.4%
0.40%
Provisions (Q1 2026) (SAR mln)
631
(578)
P/E Ratio (x) (Last 12 Months)
17.67
10.18
Return on Equity (ROE)
22.70%
13.93%
Assets (SAR bln)
1051.27
1228.50
Assets Growth
3%
4.9%
Loans Financing (SAR bln)
753.73
732.66
Financing Growth
4.3%
3.7%
Customer Deposits (SAR bln)
678.73
665.46
Deposits Growth
3.3%
6.2%
EPS (SAR)**
1.06
1.04
**Includes sukuk costs and treasury shares
Al Rajhi Bank delivered stronger profit growth, driven by higher financing income, which reflects robust core activity. Meanwhile, SNB saw slower profit growth despite similar profitability as Al Rajhi Bank.
