Saudi banks earn 62.48B riyals in seven months

Commercial banks in the Kingdom of Saudi Arabia reported profits of 62.48 billion riyals during the first seven months of 2026, marking an increase of 5.46% compared to last year, which amounts to a difference of 3.23 billion riyals. Additionally, July’s profits rose by 3.4% year-on-year to reach 8.52 billion riyals, despite a 15.6% decrease compared to June 2026. In 2025, the banks achieved record profits of 103.36 billion riyals, a 16% increase over 2024. The number of bank branches reached 1,930 by the end of July 2026, with 21 foreign banks operating in Saudi Arabia alongside a branch of Gulf International Bank.