Saudi banks' June profits top 10bn riyals

Commercial banks in Saudi Arabia achieved strong profits during June 2026, totaling 10.1 billion Riyals before Zakat and taxes, representing a 2.35% increase compared to the same month last year, and a monthly rise of 14.99% compared to May. Additionally, profits for the first half of 2026 grew by 5.8% year-over-year, reaching 53.95 billion Riyals. In 2025, banks recorded record profits of 103.36 billion Riyals, marking a 16% increase over 2024. The number of bank branches rose to 1,929 by the end of June 2026, with more than 20 foreign banks operating in the country, including a branch of the Gulf International Bank.

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