First Advice: Al Rajhi leads Arab banks by profit for 2nd straight ranking
Al Rajhi Bank reshaped the race for the top spot among the most profitable Arab banks after topping First Bank’s ranking for the first time in its history in the first quarter of 2026, with a net profit of around USD 1.80bn.
The bank jumped from third place in the 2025 ranking to first, replacing Emirates NBD at the top of the list.
Al Rajhi Bank continued to strengthen its lead, retaining the top spot in First Bank’s ranking of Arab banks by net profit in the first half of 2026.
Its net profit rose 14 per cent year on year to around USD 3.67bn, compared with USD 3.22bn in the first half of 2025, consolidating its position at the top of the ranking of the most profitable Arab banks.
As for the pace of profit growth at its nearest competitor, second-ranked Emirates NBD recorded a much more modest increase of around 2.6 per cent in net profit during the first half of 2026, reaching USD 3.50bn, compared with USD 3.41bn in the corresponding period of 2025.
The shift at the top of the profit ranking was driven not only by Al Rajhi Bank’s stronger earnings but also by the widening gap in profit growth between the two banks.
While Al Rajhi posted robust growth, Emirates NBD’s more moderate pace allowed Al Rajhi to widen its lead and strengthen its position at the top of the ranking.
The gap between the two banks’ profits stood at around USD 170mn in the first half of 2026, compared with around USD 190mn in favour of Emirates NBD in the corresponding period of 2025, reflecting a clear shift in the balance of power among the region’s most profitable banks.
Meanwhile, Saudi National Bank (SNB) remains close to the battle for the top spot after ranking third with a net profit of around USD 3.47bn in the first half of 2026, recording year-on-year growth of 7.2 per cent.
Despite Emirates NBD retaining second place, SNB’s stronger profit growth rate opens the door to the possibility of overtaking it in the coming periods, particularly if it maintains its current growth pace. This could push the bank into second place and place the top positions in the ranking of the most profitable Arab banks under the control of Saudi banks.
Al Rajhi Bank’s rise to the top therefore matters not only because it claimed first place for the first time in its history, but also because it raises the prospect of a new landscape emerging at the top of Arab banking profitability.
With Al Rajhi maintaining stronger profit growth and SNB closing in on Emirates NBD, competition for the leading positions could intensify with the release of third-quarter and year-end results.
That could pave the way for Saudi banks to further strengthen their presence at the top of the ranking of the most profitable Arab banks in September and December 2026.
