Saudi Banks' Profits Rise 3.88% in August to $2.4 Billion

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The profits of commercial banks operating in Saudi Arabia rose in August 2026 by 3.88% year-on-year, reaching 2.4 billion dollars (9.01 billion riyals) before zakat and taxes, compared to 2.31 billion dollars (8.68 billion riyals) in the same month of the previous year, according to statistics prepared by "Al Arabiya Business" based on data issued by the Saudi Central Bank "SAMA."

On a monthly basis, the profits of banks operating in the Kingdom increased in August by 5.74% compared to the net profits in July 2026, which amounted to 2.27 billion dollars (8.52 billion riyals).

The profits of banks during the first eight months of 2026 increased by 5.26% year-on-year, reaching 19.06 billion dollars (71.49 billion riyals), compared to 18.11 billion dollars (67.92 billion riyals) in the same period of 2025.

Banks operating in Saudi Arabia achieved strong profits during the year 2025 amounting to 27.56 billion dollars (103.36 billion riyals), the highest annual profits ever, compared to 23.76 billion dollars (89.1 billion riyals) in 2024, and compared to 20.64 billion dollars (77.4 billion riyals) in 2023.

The number of branches of Saudi and foreign banks operating in the Kingdom rose to 1,933 branches by the end of August 2026, compared to 1,902 branches at the end of the same month last year, an increase of 31 branches, while the number of branches increased compared to July, which had 1,930 branches at the end.

The number of foreign banks in Saudi Arabia increased to 22 banks by the end of August 2026, the most notable being Emirates NBD with 22 branches, in addition to Gulf International Bank which has 3 branches in Saudi Arabia, while data from the central bank recorded the first branch of Jordan Bank inside Saudi Arabia for the first time by the end of last August.

The branches are distributed within the Kingdom as follows: 597 branches in the Riyadh region, 390 branches in the Makkah region, 350 branches in the Eastern Province, 124 branches in the Asir region, and 117 branches in the Qassim region.

There are 101 branches in the Madinah region, 56 branches in the Jazan region, 49 branches in the Tabuk region, 45 branches in the Hail region, 28 branches in the Al-Jawf region, 27 branches in the Al-Baha region, 26 branches in the Najran region, and 19 branches in the Northern Borders region.

The capital of banks in Saudi Arabia amounts to 81.21 billion dollars (304.56 billion riyals) by the end of August 2026, while the reserves amount to 80.05 billion dollars (300.17 billion riyals).