Saudi banks surge in Q2 profits

Saudi banks listed on the stock exchange recorded unprecedented profits in the second quarter of 2026, totaling 24.87 billion riyals, marking the highest quarterly figure ever. This represents an 8.2% increase compared to the same period last year, driven by the growth in the profits of the top ten banks. Al Rajhi Bank and the National Commercial Bank topped the list with net profits of 7.01 billion riyals and 6.6 billion riyals, respectively, together accounting for 54.76% of the sector's profits. During the first half of the same year, profits rose by 7.9% to 48.8 billion riyals, with Al Rajhi continuing its dominance at the forefront with profits of 13.76 billion riyals, followed by the National Commercial Bank with around 13.03 billion riyals.

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