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Saudi banks' Q2 profits hit new high
Saudi banks achieved a record-breaking growth in their profits during the second quarter of 2026, recording total quarterly profits of 24.87 billion Riyals, the highest ever, compared to 22.98 billion Riyals in the same period last year. Al Rajhi Bank topped the list of banks in terms of profits with a net 7.01 billion Riyals, marking a 14% increase, followed by the National Bank with a net 6.6 billion Riyals, a rise of 7.6%. The results also showed that Al Rajhi Bank and the National Bank together accounted for 54.76% of the sector’s profits, reflecting the strong performance of the banking sector in the Saudi market. During the first half of the year, the combined profits reached 48.82 billion Riyals, with Al Rajhi Bank continuing to dominate, recording an annual increase of 14.16%. These results indicate a significant rebound in the profits of Saudi banks, with ongoing growth and development in the sector’s financial performance.
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