The number of bank branches operating in Saudi Arabia rose to 1,929 in H1 2026 from 1,910 at the end of 2025, the highest since 2021 and a third consecutive year of increase after declines between 2018 and 2023 from a peak of 2,076 in 2019. Al Rajhi Bank remained the largest network with 513 branches, followed by SNB at 489 and Riyad Bank at 232 — the top three holding about 64% of all branches with 1,234 between them — while SNB and Riyad Bank each added eight branches and Arab National Bank closed three, taking its network to 118.
Strategy teams at Saudi banks should note that the top three banks hold about 64% of all branches, totaling 1,234. This concentration is now becoming a distribution advantage instead of just a cost issue.
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Kicking the maturities to 2041
NDMC redeemed SR17.1bn ($4.5bn) of 2026–2030 sukuk and issued SR17.2bn maturing to 2041, a liability-management exercise.
The takeaway: A state that manages its maturity curve shows confidence, indicating long-term projects your business might supply.
Two quarters, two directions
Saudi Arabia's trade surplus reached SAR 154.72 billion in H1 2026, up 53.17% year on year, on total foreign trade of SAR 1.052 trillion, with exports up 7.3% and imports down 2.7%. The half was front-loaded: Q1 delivered SAR 93.2 billion of the surplus and Q2 SAR 61.52 billion. March surged 213.7% to SAR 56.49 billion, February was the strongest month for total trade at SAR 183.17 billion, and June the weakest at SAR 158.21 billion.
The surplus rose by 53.17% in the first half of the year. The second quarter surplus was SAR 61.52 billion, down from SAR 93.2 billion in the first quarter. This growth was driven by a strong first quarter, although the trend is now declining.
Cards flat, phones compounding
Mobile payments in Saudi Arabia ran at SAR 13,100 a second in July, up from SAR 4,200 a second in July 2021 — a 210% rise across five years, and around SAR 34 billion for the month. Card sales came in at SAR 25.7 billion in the same month, up 0.3% year on year, while e-commerce set a record at SAR 37.6 billion, up 26%.
When pitching to Saudi merchants, payment infrastructure vendors should highlight the 26% e-commerce figure instead of focusing on the 0.3% card statistic. This growth is happening in an area where their buyers are not fully meeting demand.
