Saudi banks' Q3 2026 profit grew 4.8% to about SAR 24.75 billion, the slowest growth since Q4 2020, even though net financing and investment income rose 11.4% and net financing income rose 9.1% to SAR 29.3 billion. Provisions rose 50% to nearly SAR 3 billion, lifting the cost of risk from about 26 to 36 basis points. Al Rajhi, Riyad Bank and BSF together took about 95% of the increase in net profit.
Net financing income increased by 9.1%, but profit was up just 4.8%, marking the slowest growth since Q4 2020. Equity analysts covering Saudi banks should focus their Q4 forecasts more on provisions than on lending growth.
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The money is moving closer
Assets under management in Saudi reached SR1.244 trillion at the end of 2025, from SR612 billion in 2020, with listed companies up 89% to 392, foreign ownership doubling to SR417 billion, and net foreign purchases on the Saudi Exchange running $1.6 billion in Q2 2026.
Doubling AUM and foreign ownership within five years indicates a market that has shifted in ownership, not just in value. Foreign owners often pose different questions to management than domestic owners.
A million robo-managed portfolios
Assets managed through robo-advisory services in Saudi Arabia reached SAR 9.9 billion at the end of Q2 2026, up 128% year on year and SAR 2.08 billion (26.6%) on the quarter. The number of portfolios passed one million for the first time, reaching 1.05 million, up 161% in a year, with average assets of around SAR 9,500 each; eight fintech companies hold CMA robo-advisory licences.
With assets reaching SAR 9.9 billion after 128% growth, robo-advice is now a mainstream channel rather than a niche. Bank heads of wealth need to decide whether to build, partner, or buy before the eight licensees determine pricing.
Instagram takes the ad riyal
Digital ad spending in Saudi Arabia rose 25% to about $300 million in the 12 months to July 2026, while impressions rose 15% to about 330 billion (Sensor Tower). Instagram led all channels at about $110 million, and Sensor Tower expects about $334 million for 2026.
Marketing spend is growing faster than impressions. If you are planning for 2027, expect higher cost per view rather than relying on this year's rates.
