Four out of Saudi’s big five banks are out with their 3Q results, logging high growth in net income (save for Riyad Bank). All banks managed to exceed analyst forecasts for net income during the quarter.

SAUDI NATIONAL BANK-

Saudi National Bank’s (SNB) net income jumped 20.6% y-o-y to SAR 6.5 bn in 3Q 2025, its highest quarterly bottom line on record — and well above Bloomberg ’s forecast of nearly SAR 5.5 bn — the bank said in a Tadawul disclosure yesterday.

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The drivers: The growth is attributed to a 10.4% rise in total operating income, an 8.2% increase in fees from banking services, and 12% lower total operating expenses. Meanwhile, SNB’s income from financing was up 3.1% y-o-y at SAR 12 bn in the third quarter, while income from investments increased 12.5% y-o-y to SAR 3.8 bn.

On a 9M basis, the Kingdom’s biggest lender by assets saw its net income increase 19.1% y-o-y to SAR 18.6 bn. Meanwhile, it posted a 3.3% y-o-y increase in total income from financing at SAR 34.4 bn and a 13.1% climb in income from investments at SAR 10.9 bn during the same period.

AL RAJHI BANK-

Al Rajhi Bank recorded a 24.6% y-o-y rise in net income to SAR 6.4 bn in 3Q 2025, surpassing Bloomberg analysts’ forecast of SAR 5.8 bn, it said in a disclosure to Tadawul yesterday.

The drivers: The strong performance was supported by a 17.1% rise in total operating income, driven by higher net financing and investment income, as well as stronger fee and commission income, trading gains, and exchange income. Meanwhile, income from financing was up 14.5% y-o-y to SAR 11.8 bn, and income from investments climbed 34.1% to SAR 2.5 bn.

Over the first nine months of 2025, the bank saw its net income rise 29.6% y-o-y to SAR 18.4 bn. Meanwhile, income from financing was up 17.3% y-o-y to SAR 34 bn and income from investments soared 36.4% to SAR 7.1 bn.

RIYAD BANK-

Riyad Bank’s net income edged up 1.3% y-o-y to SAR 2.7 bn in 3Q 2025, on the back stronger operating income despite rising operating expenses, it said in a disclosure to Tadawul yesterday. The figure surpassed Bloomberg analysts’ estimate of SAR 2.5 bn and marks the slowest earnings growth among Saudi banks that have reported so far.

Total income from financing increased 13.6% y-o-y to SAR 6.3 bn over the same period, while income from investments climbed 13.8% y-o-y to SAR 741.5 mn.

On a 9M basis, Riyad Bank’s net income rose 10% y-o-y to SAR 7.8 bn, driven by an 8.6% increase in total operating income to SAR 13.7 bn. Total income from financing increased 12.5% y-o-y to SAR 17.8 bn, while income from investments grew 16.6% y-o-y to SAR 2.2 bn.

BANQUE SAUDI FRANSI-

Banque Saudi Fransi (BSF) saw its net income expand 17.9% y-o-y to SAR 1.35 bn in 3Q 2025 — slightly surpassing Bloomberg analysts’ expectations which stood at SAR 1.32 bn — the bank said in a Tadawul disclosure yesterday. The bank saw its total income from financing went up 4.5% y-o-y to SAR 3.8 bn over the same period and its income from investments climb 22.9% y-o-y to SAR 714 mn.

On a 9M basis, net income increased 19.5% y-o-y to SAR 4.1 bn. Meanwhile, its total income from financing expanded 4.9% y-o-y to just shy of SAR 11 bn and its income from investments jumped 18.1% y-o-y to slightly over SAR 2 bn.

ALDREES-

Aldrees Petroleum and Transport Services’ net income climbed 34.5% y-o-y to SAR 113.8 mn in 3Q 2025, it said in a Tadawul disclosure yesterday. The increase was fueled by higher sales from its petrol and transport divisions and increased income from deposits and sukuk, which offset losses from an investment JV.

MEANWHILE- Revenue grew 34.9% y-o-y to SAR 6.9 bn over the same period, buoyed by an increase in the number of service stations and higher efficiency in the transport and logistics division.

On a 9M basis, the fuel retailer’s bottom line posted a 28.3% y-o-y hike to SAR 313.6 mn, while its top line increased 34.6% y-o-y to SAR 18.9 bn.

KEEP AN EYE OUT-

  • Saudi Awwal Bank — the last bank among Saudi’s big five — is expected to announce 3Q results sometime this week.
  • Saudi Telecom Company (stc) and Saudi Basic Industries (Sabic) will post their 3Q results on Monday, 3 November.
  • Saudi Aramco is set to announce 3Q 2025 financial results on Tuesday, 4 November, with expectations to reach SAR 89 bn in net income for the quarter, compared to SAR 97.6 bn over the same period last year. The company’s net income fell 22% in 2Q 2025 to just above SAR 85 bn (USD 22.7 bn).
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