The growth of Saudi banks’ profits exceeds the Gulf

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Saudi banks maintained their share of the profits of the Gulf banking sector in the first quarter at the level of 38%, compared to 37% in 2020, and the growth rate of net profits of Saudi banks exceeded their Gulf counterparts, as the first grew by 20.5% compared to the growth of the second by 15%.annual growth

Al-Watan’s monitoring, based on the disclosures of financial banks on “Tadawul” and a report by KAMCO, showed the growth in net profits of the banking sector in the Gulf Cooperation Council countries during the first quarter of 2021 on an annual basis by 15% at the level of 31.5 billion riyals, of which the share of Saudi banks was 38 % by 11.9 billion riyals, as the latter grew by 20.5% in net profits during the first quarter of 2021, and an increase of 2.04 billion riyals over the same quarter of last year.

2020 earnings

During the past year, Saudi banks acquired about 37% of the net profits of Gulf banks, amounting to 34.73 billion riyals of the total profit, which reached the level of 93.75 billion riyals.

Banking assets

Saudi banks accounted for 26.8% of the total assets of Gulf banks, which at the end of the first quarter amounted to about 9.408 trillion riyals, and the value of the assets of banks operating in Saudi Arabia amounted to about 2.524.5 trillion riyals.

Banking Sector Indicators

Bank assets

The Gulf = 9.40875 trillion Saudi riyals = 2.524.5 trillion riyals

• Net loans 28.4%

Gulf 5.7 trillion riyals Saudi Arabia 1.62 trillion riyals

• Customer Deposits

The Gulf 7.1 trillion riyals Saudi Arabia 1.9 trillion riyals

• Total revenue

Gulf 78.75 billion Saudi riyals 25.16 billion riyals

* Net profit

Gulf 31.5 billion riyals Saudi Arabia 11.9 billion riyals







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