Saudi Banks’ May Profits Jump 11.2% to 8.15 Billion Riyals, SAMA Reports

Banks operating in Saudi Arabia saw their pre-Zakat and tax profits surge 11.2% year-on-year in May 2025, reaching 8.15 billion riyals ($2.17 billion), according to the Saudi Central Bank’s (SAMA) monthly bulletin.

The May 2025 figures compare to 7.33 billion riyals in profits recorded in May 2024. Profits also increased by 5% from April 2025, which stood at 7.77 billion riyals.

For the first quarter of 2025, Saudi banks’ pre-Zakat and tax profits rose 21.5% to 25.2 billion riyals, up from 20.73 billion riyals in the same period of 2024.

In 2024, banks operating in the Kingdom achieved a record high in pre-Zakat and tax profits, reaching 89.10 billion riyals. This marked a 15.1% increase from 77.40 billion riyals in 2023.

The aggregated profits include the results of Saudi banks operating within the Kingdom (excluding foreign branches) as well as the branches of foreign banks operating in Saudi Arabia.