United Securities Sees Al Rajhi Q2 Profit Near SAR 3.4B

United Securities Co. issued Q2 2026 earnings forecasts for a number of Saudi banks and companies under its coverage.

Al Rajhi Bank's net profit is expected to come in at roughly SAR 3.4 billion, the brokerage said. That would mark a slight decline from the SAR 3.46 billion the bank reported in the same quarter last year.

The forecast aligns with the range set by other local brokerages. AlJazira Capital sees Al Rajhi Q2 profit above SAR 3.4 billion. SICO pegs it at SAR 3.34 billion.

United Securities also published estimates for other names in its coverage universe, though it did not disclose the full list in the note.

The bank's shares have traded in a tight range this year, with investors waiting for clarity on margin trends and loan growth before making a bigger directional bet. Net interest margins have been under pressure across the Saudi banking sector as the central bank held rates steady through the first half.

A print near SAR 3.4 billion would keep the stock's valuation roughly in line with its five-year average, leaving the next catalyst to the second-half outlook for lending volumes and fee income.