Saudi banks listed on the Saudi Stock Exchange (Tadawul) achieved record profits in the second quarter of 2026, year-on-year, driven by increased earnings across the board, led by the National Commercial Bank (NCB) and Al Rajhi Bank. This growth was fueled by higher financing and investment revenues and continued expansion of loan portfolios.

The combined profits of the 10 listed banks increased by 8.2% year-on-year in Q2 2026, reaching SAR 24.87 billion after zakat and tax, compared to SAR 22.98 billion in the same quarter of 2025, according to statistics compiled by Al Arabiya Business.

The highest-earning banks in the second quarter of 2026, on a year-on-year basis, were led by Al Rajhi Bank, with strong profits exceeding SAR 7 billion, a 14% increase compared to the second quarter of 2025.

Al Rajhi Bank's profit growth was driven by a 13.3% increase in total operating income, primarily due to higher net financing and investment income, banking service fees, and foreign exchange income.

The National Commercial Bank (NCB) also saw its profits rise by 7.6% to SAR 6.6 billion, supported by an 11.3% increase in total operating income to SAR 10.6 billion. This was driven by an 11.4% increase in net financing and investment income, a 34% increase in total investment gains/income, and a 3.3% increase in net foreign exchange income.

Al Rajhi Bank and NCB accounted for approximately 55% of the total profits of listed banks in the second quarter of this year.

In third place was Riyad Bank with 2% growth and a net profit attributable to shareholders of SAR 2.65 billion, followed by Alawwal Bank with 9.6% growth and a net profit of SAR 2.33 billion.