Saudi banks open 41 new branches in 2017
Banks operating in Saudi Arabia opened 41 new branches during 2017, or an average of three per month, according to the central bank’s latest bulletin.
The recent additions brought the total number of branches in the Kingdom to 2,079, compared to 2,038 by the end of 2016.
As many as 12 foreign banks are currently operating in the country, including Gulf International Bank (GIB), Emirates NBD, BNP Paribas of France, National Bank of Kuwait (NBK), Deutsche Bank of Germany, Bank Muscat, National Bank of Bahrain (NBB), and JPMorgan Chase & Co. of the United States, Pakistan National Bank, Ziraat Bank of Turkey, State Bank of India and Industrial and Commercial Bank of China.
Bank branches |
||
Variation (YoY) |
Number of bank branches |
Year |
+65 |
1,289 |
2006 |
+64 |
1,353 |
2007 |
+57 |
1,410 |
2008 |
+109 |
1,519 |
2009 |
+72 |
1,591 |
2010 |
+55 |
1,646 |
2011 |
+50 |
1,696 |
2012 |
+72 |
1,768 |
2013 |
+144 |
1,912 |
2014 |
+77 |
1,989 |
2015 |
+49 |
2,038 |
2016 |
+41 |
2,079 |
2017 |
The National Commercial Bank (NCB) opened 26 new branches last year, while Al Rajhi Bank had 15. Alinma Bank launched nine branches. Riyad Bank opened three branches, Alawwal Bank (two new branches) and one new branch for Saudi Investment bank (SAIB), SAMBA Financial Group (SAMBA) and Qatar National Bank (QNB) each.
Meanwhile, Arab National Bank (ANB) closed down nine of its branches during the year; Bank Albilad shut two branches; Saudi British Bank (SABB) (five branches); while Bank Aljazira closed one branch.
Banks branches opened in 2017 |
||
New openings |
Number of branches |
Bank |
26 |
400 |
National Commercial Bank |
15 |
554 |
Al Rajhi Bank |
9 |
85 |
Alinma Bank |
3 |
340 |
Riyad Bank |
2 |
67 |
Alawwal Bank |
1 |
73 |
SAMBA |
1 |
49 |
SAIB |
1 |
1 |
QNB |
Saudi-listed banks had up to 2,064 branches by the end of last year, topped by Al Rajhi (554 branches), NCB (400) and Riyad Bank (340).
Riyadh has the biggest number of bank branches (631). Makkah region has 442, and the Eastern Province has 405 branches.
Average assets of each branch rose to SAR 1.109 billion in 2017 from SAR 1.107 billion the previous year. Average deposits dropped to SAR 779 million a branch, and loans retreated to SAR 670 million, data compiled by Argaam showed.
Number of Branches Per Bank |
|||
Variation (branch) |
2017 |
2016 |
Bank |
15+ |
554 |
539 |
Al Rajhi |
26+ |
400 |
374 |
NCB |
3+ |
340 |
337 |
Riyad Bank |
(9) |
142 |
151 |
Arab National Bank |
(2) |
112 |
114 |
Bank Al Bilad |
-- |
86 |
86 |
BSF |
9+ |
85 |
76 |
Alinma |
(1) |
79 |
80 |
Bank Aljazira |
(5) |
77 |
82 |
SABB |
1+ |
73 |
72 |
SAMBA |
2+ |
67 |
65 |
Alawwal Bank |
1+ |
49 |
48 |
SAIB |
40+ |
2,064 |
2,024 |
Total |
- Gold prices rise, record weekly gain of over 2%
- Ministry of Industry launches incentives program for industrial sector
- Industrial sector contributes 30% of Saudi Arabia' FDIs: Al-Falih
- Brent crude rises, records weekly gain of over 4%
- KSA aims to support industries with affordable gas prices: Minister
Market Indices
Quotes
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments 1
Be the first to comment
wkhamisah
منذ 5 سنه