List of banks in Saudi Arabia with Top Performers

Saudi Arabia has a well-established banking system, with a wide range of banks catering to various needs. The country's banking sector is dominated by state-owned banks, which offer a range of financial services.

Al Rajhi Bank, one of the largest banks in Saudi Arabia, is a top performer in terms of assets and customer base. It has a strong presence in the country, with over 700 branches.

The National Commercial Bank (NCB) is another top performer, with a significant market share and a wide range of financial services. It has a strong online presence, with mobile banking and online banking services available to customers.

Saudi Arabia's banking sector is highly competitive, with many banks vying for market share. Despite the competition, many banks have managed to establish themselves as top performers.

The Arab National Bank is one of the biggest banks in Saudi Arabia, established in 1979 in Riyadh. It's the 7th largest bank in the country by total assets acquired, with SAR 168.427 billion at the end of March 2017. The bank provides mainly retail and corporate banking services.

Around 4400 employees are employed by the Arab National Bank.

Saudi Arabia has a thriving banking system, with 24 banks operating in the country. Out of these 24 banks, 12 are local banks, while the rest are branches of foreign banks.

The banking system in Saudi Arabia has experienced significant growth, with assets more than doubling over time. This growth is largely due to the country's efforts to reduce its dependence on oil as a source of revenue.

Commercial banking is a major sector in Saudi Arabia, with loans given to large and small corporate houses being more prevalent than borrowing by individuals. The Saudi banking performance is closely tied to the oil price movement, with loan demand increasing with rising oil prices.

Moody's Investors Services has upgraded its rating of the banking system in Saudi Arabia from negative to stable, citing high-risk absorption buffers, eased funding pressures, and improving credit profiles. The credit profiles are expected to evolve to the next level within 12 to 18 months.

Saudi Investment Bank (SAIB) is a well-established bank in Saudi Arabia, offering a range of services including retail and corporate banking, investment services, trade finance, and wealth management. SAIB has a presence in Saudi Arabia through branches and ATMs, providing accessibility to its services for customers across the kingdom.

Here are some key facts about the banking system in Saudi Arabia:

National Commercial Bank is one of the most recognized financial brands in the region. It was founded in 1953 and has a legacy spanning over six decades, making it not only the largest bank in Saudi Arabia but also one of the oldest.

The bank operates through a network of 401 branches in Saudi Arabia and serves around 3.3 million customers. It employs over 9,631 people, with 92.1% being Saudis. This is impressive, considering the bank's size and reach.

NCB manages and operates over 3,661 ATMs and 12,806 points of sale machines. This extensive network ensures easy access for its customers across the country.

Here's a breakdown of the bank's services and network:

The bank's financials are also impressive, with a net income of SAR 10,667 Million for 2018 and assets reaching SAR 453 billion in the same year. This is a significant increase from the previous year's net income of SAR 9,802 Million.

Arab National Bank is a well-established institution in Saudi Arabia, founded in 1979. It offers a comprehensive range of commercial and investment banking services.

The bank operates through a network of 183 branches, including 44 ladies' sections, and has more than 1,250 ATMs and 15,500 POS terminals. It also provides mobile banking applications for easy access.

Arab National Bank's net profit grew 9.3% year-on-year to SAR 3.3 billion in 2018. Among the 10 largest banks in the Middle East, Arab National Bank ranks as 'A' by Standard and Poor's.

The bank offers specialized services in heavy equipment leasing and home finance, making it a versatile option for various financial requirements.

Arab National Bank is publicly traded, with a diverse range of shareholders, reflecting its commitment to transparency and good governance.

The top 10 banks in Saudi Arabia are the largest and most profitable in the country. These banks have consistently maintained their positions in the rankings.

According to Fitch Ratings, the top 10 banks in Saudi Arabia have seen vital performance metrics in 2022 and 1Q23, and are expected to continue this trend through the rest of 2023. This is supported by solid operating conditions and non-oil economic growth.

The top 10 banks in Saudi Arabia have witnessed robust profitability growth, with net profit increasing 9.3% quarter-on-quarter. This is a significant improvement in the sector.

Here are the top 10 banks in Saudi Arabia:

Alawwal Bank has been operating since 1926, making it one of the oldest banks in Saudi Arabia. It offers a wide range of services, including retail and corporate banking, investment banking, and wealth management.

Some of the key services offered by Alawwal Bank include retail and corporate banking services, investment banking, and wealth management. The bank also provides online banking services, allowing customers to manage their accounts and conduct transactions online securely.

Samba Financial Group was founded in 1955 and operates through consumer, corporate, treasury, and investment banking segments. It offers services like current and time deposits, credit cards, and individual and consumer loans.

Bank AlJazira, founded in 1975, has grown to become a significant player in the Saudi banking sector. It offers a comprehensive range of financial services, including retail, corporate, and investment banking, as well as credit cards and financing solutions.

Here are some key statistics about these banks:

Al Rajhi Corporation is one of the largest Islamic banks in Saudi Arabia, with a long history dating back to 1957. It is a publicly traded institution with the Rajhi family being one of the major shareholders.

Al Rajhi Bank has a vast network of branches and ATMs not only in Saudi Arabia but also internationally, providing convenience to its diverse customer base. Its online banking services are designed to align with Islamic finance principles, allowing customers to manage their accounts and conduct transactions conveniently and securely.

The bank offers a wide range of services, including retail and corporate banking, investment services, real estate financing, and various other Islamic financial products. Its head-quarter is situated in Riyadh, and it has branches worldwide, in Malaysia, Kuwait, Jordan, etc.

Here are some key statistics about Al Rajhi Bank:

Al Rajhi Bank has a significant presence in Saudi Arabia, with over 570 branches and 84,000 POS terminals. Its employees number around 9,600 people in Saudi Arabia, and it operates through four segments: retail, corporate, treasury and investment services, and brokerage.

In 2018, the bank reported a net profit of SAR 10,297 Million, reflecting a 12.9% increase compared to the previous year.

The British connection to Saudi Arabia's banking scene is quite interesting. The Saudi British Bank (SABB) is a joint-stock company and part of HSBC Holdings PLC. It's a significant player in the market, ranking sixth in terms of total assets acquired, with SAR 182.5 billion in assets at the end of March 2017.

SABB's partnership with HSBC brings a global perspective to its operations, making it a reliable financial institution in Saudi Arabia. The bank is jointly owned by HSBC and Saudi British Bank Group, with HSBC being the majority shareholder.

SABB offers a wide range of financial services, including retail banking, corporate banking, investment banking, trade finance, and advisory services. Its network of branches and ATMs across Saudi Arabia makes it easily accessible to customers across the kingdom.

Here are some key services offered by SABB:

SABB's online banking services provide customers with a convenient and secure way to manage their accounts and perform transactions, aligning with modern digital banking practices.

Islamic Finance is a unique and specialized field that offers a range of Shariah-compliant services and products.

Islamic banks in Saudi Arabia split their profits and losses with their clients, rather than charging interest on loans.

This approach is based on Islamic principles and provides a more equitable way of managing finances.

Current accounts and savings accounts are just a few examples of Islamic banking services available in Saudi Arabia.

Shariah-compliant investment products, such as mutual funds and Islamic bonds, are also available for clients to invest in.

These investment products are designed to meet the financial needs of individuals and businesses while adhering to Islamic principles.

Islamic banks in Saudi Arabia offer a range of services and products that cater to the diverse needs of their clients.

Banque Saudi Fransi was awarded the Best Banking Customer Experience Saudi Arabia 2022 by the World Finance magazine.

This award recognizes the bank's commitment to providing excellent customer service and personalized banking solutions.

Riyad Bank received the Best Digital Bank in Saudi Arabia award in 2021.

Banks in Saudi Arabia offer free trials of their services to ensure customers are satisfied with their banking experience.

Customer support is also provided to help customers easily access the services they need.

Saudi Arabia's banking system offers a range of features to cater to the diverse needs of its citizens.

The National Commercial Bank (NCB) offers online banking services, allowing customers to manage their accounts, pay bills, and transfer funds from the comfort of their own homes.

NCB also provides mobile banking, enabling customers to access their accounts and perform transactions on-the-go.

Al Rajhi Bank offers a cash management system, which helps businesses manage their finances more efficiently.

Saudi British Bank (SABB) provides a range of credit cards, catering to different lifestyles and financial needs.

Digital transformation is a top priority for many Saudi Arabian banks, with a focus on investing in new technologies to enhance their offerings and optimize their processes.

Mobile banking has been a key driver of this transformation, with many banks now offering smartphone apps that let users pay bills, transfer funds, and manage their accounts.

These apps have made banking more convenient and accessible, allowing users to perform various tasks on the go.

Artificial intelligence (AI) is also being utilized to enhance customer service, making banking operations more effective and efficient.

Blockchain technology is being used to improve fraud detection, adding an extra layer of security to banking transactions.

Collaboration with foreign banks has been a critical strategy for many top banks in Saudi Arabia to expand their reach and services.

The Saudi British Bank (SABB) has partnered with HSBC to provide its customers with access to HSBC's global network. This partnership has allowed SABB to tap into HSBC's vast resources and expertise.

Alinma Bank has also partnered with several foreign banks, including the International Finance Corporation (IFC) and the Islamic Corporation for Private Sector Development (ICD). These partnerships have enabled Alinma Bank to expand its services and reach, particularly in the Middle East and Asia-Pacific regions.

Collaborations with foreign banks have enabled top banks in Saudi Arabia to expand their services and reach beyond their borders.

Saudi Arabian banks are committed to delivering excellent customer experiences. They provide personalized services to their customers.

The top Saudi Arabian banks invest heavily in their digital infrastructure to provide customers with the best possible experience. This investment has resulted in the development of innovative digital banking solutions.

Saudi Arabian customers expect high standards of service quality from their banks. They want convenient banking options that make their lives easier.

Saudi Arabian banks provide customers with the ability to use financial services whenever and from wherever. This flexibility is a key aspect of their excellent customer experiences.

Effective shareholder communications are crucial for banks in Saudi Arabia, and top banks like Al Rajhi Bank have been recognized for their efforts. Al Rajhi Bank was named the best investor relations in the Middle East in 2019.

Their investor presentation showcases the bank's commitment to transparency and timely communication with shareholders. This clear approach helps build trust with investors.

The Saudi Investment Bank (SAIB) also prioritizes regular updates on its financial performance and strategic initiatives. In 2022, SAIB reported a budget surplus of SAR90bn, representing 2.5% of GDP.

The National Commercial Bank (NCB) is the largest in Saudi Arabia regarding customer base.

It had over 6.4 million customers as of 2024.

This is a significant number, especially when considering the bank's network of more than 400 branches nationwide.

The NCB's extensive customer base is a testament to its strong presence in the Saudi Arabian market.

Its large customer base also means that the bank has a significant amount of financial data to work with, which can be beneficial for its customers.

The banking sector in Saudi Arabia has seen significant growth, with the top banks contributing to the country's GDP by providing loans and other financial services. This has been a key component of Vision 2030, which aims to diversify the economy.

The Public Investment Fund (PIF) has invested heavily in the sector to promote growth and innovation, enabling banks to expand their operations and create more employment opportunities.

The banking industry has also experienced robust profitability and revenue expansion, with a net profit rise of 26.21% compared to the same period in 2021.

The top banks in Saudi Arabia have played a significant role in economic growth by providing loans and other financial services.

Policymakers have recognized the banking sector's importance in driving economic growth, which is a key component of Vision 2030.

The Public Investment Fund (PIF) has invested heavily in the sector to promote growth and innovation, enabling banks to expand their operations.

This expansion has resulted in increased employment opportunities, contributing to the country's economic diversification.

The banking industry has been vital to the economy's diversification, and the PIF's investments have been a key factor in this process.

Banks have been able to provide more financial services, contributing to the country's GDP.

The banking sector's growth has been supported by policies implemented by policymakers, who have recognized its importance in driving economic growth.

The top banks in Saudi Arabia have seen a significant increase in profitability. Their nine-month financial performance has shown a strong performance, especially evident in the 26.21% net profit rise compared to the same period in 2021.

Non-core income has been a significant contributor to this growth. According to Alvarez & Marsal’s latest Saudi Arabia Banking Pulse for Q1 2023, the net profit of the top 10 banks increased by 2.7 percent quarter-on-quarter (QoQ) in Q1’23.

The Public Investment Fund (PIF) has played a crucial role in promoting growth and innovation in the banking sector. Its investments have enabled banks to expand their operations, resulting in increased employment opportunities.

A closer look at the annual reports and statements released by the country’s top banks provides valuable insights into each bank’s financial performance and strategic direction.

Choosing the right bank in Saudi Arabia can be overwhelming, but it's essential to consider the key factors that suit your needs. Availability of services in your preferred language is a critical factor to consider.

Convenience of branch locations and operating hours is also crucial, as you want to be able to easily access your bank's services. Research has shown that banks with convenient branch locations and operating hours tend to have higher customer satisfaction rates.

The range of services offered by a bank is another important factor to consider. Some banks offer a wide range of services, including conventional and Islamic banking solutions.

Fees are also a significant factor to consider when choosing a bank. Banks with competitive fees can save you money in the long run.

Here are some of the top banks in Saudi Arabia that you may want to consider:

Bank operations in Saudi Arabia are heavily regulated to ensure stability and security.

The Central Bank of Saudi Arabia (CBOS) oversees all banking activities, setting rules and guidelines for banks to follow.

Banks in Saudi Arabia are required to maintain a minimum capital adequacy ratio of 10% to ensure financial stability.

Online banking has become increasingly popular in Saudi Arabia, with many banks offering mobile banking services and digital payment systems.

International banks have a significant presence in Saudi Arabia, with several operating within the country.

Citibank is one of the international banks operating in Saudi Arabia, offering a range of financial services to its clients.

HSBC also has a strong presence in the country, providing banking services to both individuals and businesses.

JPMorgan Chase has a presence in Saudi Arabia, catering to the financial needs of its clients.

Deutsche Bank and Standard Chartered Bank are also international banks operating in Saudi Arabia, offering a range of financial services to their clients.

Several international banks operate within Saudi Arabia, including:

The regulatory environment in Saudi Arabia plays a crucial role in shaping the banking sector. SAMA, the country's central bank, is responsible for regulating the industry.

SAMA has implemented several regulations to ensure the banking sector's stability and growth. One of these regulations is the Islamic Banking Law, introduced in 2017, which aims to promote the development of Islamic banking in the country.

The Saudi banking sector is expected to continue growing and evolving in the coming years with SAMA's support and the introduction of new regulations.