Al-Mamlakah secures 52% of Q2 financial sector earnings
Financial services sector listed on the Saudi Stock Exchange "Tadawul" saw a 6.46% increase in profits during the second quarter of 2026, reaching 640.04 million Riyals compared to 601.20 million Riyals in the same period last year. Kingdom Holding Company ranked first, achieving profits of 333.23 million Riyals—a decrease of 17.74%—but accounting for 52% of the sector's total profits. Its profits rose by 23.93% compared to the first quarter, driven by improved performance in the hotel sector and reduced costs, despite a decline in profits from selling stakes and real estate. Conversely, several companies experienced decreases in profits, such as Tadawul Group by 4.26% and Tasaud Development for Financing by 19.36%. On the other hand, companies like Al N Betat International and Amalik posted significant growth, with profits increasing by 136.93% and 25.16%, respectively. Overall, the financial services sector achieved total profits of 1.19 billion Riyals in the first half of 2026, down 13.63% from the previous year, amid a decrease in the profits of major leading companies.
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