Saudi Banks Report USD 22 Billion in Profits for January 2025

Saudi Arabia’s banking sector reported a combined profit of USD 22 billion in January 2025, marking a 16% increase compared to the same month last year, according to data released by the Saudi Central Bank (SAMA). The figures reflect continued momentum in the sector, fuelled by rising interest income and steady growth in lending.

Total bank deposits rose by 8.6% year-on-year, while credit extended to the private sector grew by 9.5%, underscoring ongoing confidence in the Kingdom’s economic trajectory. The strong results also come amid higher benchmark interest rates globally, which have improved banks’ net interest margins.

The uptick in profits follows broader structural shifts in Saudi Arabia’s financial landscape, as the Kingdom pursues its Vision 2030 goals. Ongoing digital transformation and regulatory reforms have contributed to increased banking efficiency and service delivery.

The sector’s robust performance is also supported by government-backed initiatives to boost housing and SME financing, which have helped diversify banks’ lending portfolios.

According to SAMA, total banking sector assets reached USD 1.1 trillion by the end of January, maintaining the Kingdom’s position as one of the region’s largest financial markets.