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Research Firm Forecasts 3 Banks’ Profits to Reach 9.3 Billion Riyals in Second Quarter of 2026
Aljazira Capital expects the net profits of the covered banks to grow by 9.7% in the second quarter of 2026, reaching 9.3 billion riyals. This is supported by an increase in loans and an improvement in the Saudi Central Bank’s financial performance, with bank profits rising by 6.5% during April and May 2026, along with a 9.3% increase in deposits. All major banks are projected to see growth in their loans and deposits, with Bidaya Bank leading deposit growth at 14.8%. Additionally, Al Rajhi Bank is expected to outperform others with an 11% increase in net profit, reaching 6.83 million riyals, with expectations of continued growth in bank profits throughout the quarter.
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