Saudi bank profits jump 3.88% to $2.4 billion in August

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The profits of commercial banks operating in Saudi Arabia increased during the month of August 2026 by 3.88% on an annual basis, to reach $2.4 billion (9.01 billion riyals) before zakat and taxes, compared to $2.31 billion (8.68 billion riyals) in the same month of last year, according to statistics prepared by “Arabiya Business” based on data issued by the Saudi Central Bank “SAMA”.

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

Bank profits during the first eight months of 2026 increased by 5.26% on an annual basis, to reach $19.06 billion (71.49 billion riyals), compared to $18.11 billion (67.92 billion riyals) in the same period in 2025.

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

The number of branches of Saudi and foreign banks operating in the Kingdom increased to 1,933 branches at 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 last July, which was 1,930 branches at the end.

The number of foreign banks in Saudi Arabia increased to 22 banks by the end of August 2026, most notably 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 the Bank of Jordan inside Saudi Arabia for the first time at the end of last August.

The branches are distributed within the Kingdom: 597 branches in the Riyadh region, 390 branches in the Makkah Al-Mukarramah 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 Medina 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 border region.

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