GCC earnings growth remained strong in the third quarter as companies across the Gulf achieved their highest profit levels in three years. The latest analysis shows that robust performances from banking and real estate helped lift overall results, even as telecoms and utilities delivered softer numbers. The momentum highlights how resilient the region’s listed firms have become amid shifting global market conditions.
Banking Drives GCC Earnings Growth
The new review from Kamco Invest revealed that listed companies across the Gulf recorded $65.6 billion in net income for Q3 2025. This reflected a year-on-year increase of 7.9 percent. Quarter-on-quarter gains were even stronger, rising 15.7 percent, marking one of the region’s best sequential improvements since 2022. Banking remained the strongest contributor. Listed banks posted record net profits of $17.4 billion. A rise of 7.8 percent in net interest income and a 20.4 percent jump in non-interest income supported these results. UAE banks reported growth of 25.1 percent, while Saudi banks achieved a 15.2 percent increase, showing widespread regional strength.
Real Estate Lifts GCC Earnings Growth
Real estate was another clear performer. Sector profits climbed by nearly two thirds, driven largely by developers in the UAE. Their net income rose by $800 million year on year, reaching $2.67 billion. Dubai accounted for the majority of this, recording $2.3 billion in profit and reinforcing its status as the region’s most active property market. The energy sector showed slight improvement with a 0.5 percent annual rise to $28.9 billion, despite a 13.7 percent drop in average crude prices. Abu Dhabi National Energy Co. delivered a strong 26.6 percent profit increase helped by lower operating costs.
Regional Trends Support GCC Earnings Growth
Saudi Arabia delivered the biggest profit increase overall, reaching a five-quarter high of $38.2 billion. Dubai companies also performed well, reporting $8.1 billion in quarterly net income. Across the rest of the GCC, trends remained mixed but positive. Qatar held steady as strong banking and transport figures balanced weaker industrial results. Oman saw moderate gains driven by banking and utilities, while Bahrain posted a slight improvement supported by financial services. As economic diversification accelerates across the region, analysts expect the outlook for listed companies to remain broadly positive.
