Saudi banks post 9.99 billion riyals in September profit, up 7.3%

Summary

• Saudi banks earned 9.99 billion riyals before zakat and tax in September 2026, SAMA data showed.
• The figure compares with 9.31 billion riyals in the same month of 2025, a 7.3% increase.
• Profit growth signals a banking sector still able to fund Vision 2030 lending despite rate and competitive pressure.

The latest

Profits at banks operating in Saudi Arabia reached 9.99 billion riyals before zakat and tax in September 2026, according to the monthly statistical bulletin issued by the Saudi Central Bank. That marks a 7.3% rise on the 9.31 billion riyals recorded in September 2025, leaving the sector's monthly earnings within reach of the 10 billion riyal mark.

Details

• The headline figure: Banks operating in the Kingdom generated 9.99 billion riyals in net profit before zakat and tax during September 2026, according to the Saudi Central Bank's monthly statistical bulletin. The reading is a pre-levy measure, meaning it captures earnings before zakat and corporate tax obligations are deducted.
• The comparison: The same month a year earlier produced 9.31 billion riyals, according to the bulletin. The gap between the two readings works out to roughly 680 million riyals in additional monthly profit, a 7.3% year-on-year increase on a like-for-like September basis.
• The source: The numbers come from the monthly statistical bulletin published by SAMA, the Saudi Central Bank, which tracks aggregate indicators for banks licensed to operate in the Kingdom. Argaam reported the figures, citing the bulletin released on 29 October 2026.
• The scope: The reading covers banks operating in Saudi Arabia as a single aggregate, not the results of any individual lender. The bulletin did not break the profit figure down by bank, nor did it separate local institutions from branches of foreign banks.
• What is not in the data: The bulletin figure is a monthly snapshot rather than a quarterly or year-to-date total. It did not disclose the drivers behind the increase, such as net interest income, fee revenue, lending volumes or the level of provisions set aside against credit losses.
• Near the threshold: At 9.99 billion riyals, September's reading sits just under 10 billion riyals, a level the monthly series would cross with an increase of roughly 10 million riyals. The bulletin did not indicate whether earlier months of 2026 had already reached that mark.
• Why it matters: Aggregate bank profitability is a standard read on the health of the financial system and on lenders' capacity to extend credit. Saudi banks are the main domestic funding channel for the projects grouped under Vision 2030, making their earnings trajectory a proxy for financing capacity.

Background

SAMA publishes a monthly statistical bulletin covering aggregate indicators for the Saudi banking system, including profitability, deposits and credit. The pre-zakat, pre-tax profit line is one of the series it tracks, allowing month-by-month and year-on-year comparisons across the sector as a whole.

Between the lines

A 7.3% year-on-year gain in a single month's aggregate profit, measured before zakat and tax, points to earnings growth that held up over the twelve months separating the two readings. Because the bulletin does not disclose the components behind the figure, the data alone does not establish whether the increase came from lending volumes, margins or lower provisioning.

What's next

The next monthly SAMA bulletin will show whether the series crosses 10 billion riyals, and individual Saudi lenders' own disclosures will indicate which institutions drove the aggregate increase.

Source: Saudi Central Bank (SAMA) monthly statistical bulletin