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Bank branches in Saudi Arabia shrink to 1,896 in 9M 2023
The number of bank branches in Saudi Arabia declined by 31 in the first nine months of 2023 to 1,896 from 1,927 in the same period last year, the lowest figure since November 2014, when it fell to 1,891.
A total of 19 new branches opened in the nine-month period, while 50 were closed, according to the latest bulletin issued by the Saudi Central Bank (SAMA).
The table below shows the development in the number of bank branches operating in the Kingdom since 2006:
|
Bank Branches |
||
|
Period |
Number of Branches |
Change (YoY) |
|
2006 |
1,277 |
+56 |
|
2007 |
1,353 |
+76 |
|
2008 |
1,410 |
+57 |
|
2009 |
1,519 |
+109 |
|
2010 |
1,591 |
+72 |
|
2011 |
1,630 |
+ 39 |
|
2012 |
1,677 |
+ 47 |
|
2013 |
1,749 |
+ 72 |
|
2014 |
1,909 |
+ 160 |
|
2015 |
1,976 |
+ 67 |
|
2016 |
2,029 |
+ 53 |
|
2017 |
2,069 |
+ 40 |
|
2018 |
2,064 |
(5) |
|
2019 |
2,076 |
+12 |
|
2020 |
2,014 |
(62) |
|
2021 |
1,945 |
(69) |
|
2022 |
1,927 |
(18) |
|
9M 2023 |
1,896 |
(31) |
The nine-month period witnessed the closure of several branches, in addition to the opening of new ones, as shown in the following table:
|
Banks Branches Opened/Closed in 9M 2023 |
|||
|
Bank |
Number of Branches |
New Openings |
Closed Branches |
|
Riyad |
223 |
+1 |
(14) |
|
Al Rajhi |
511 |
-- |
(5) |
|
SAB |
95 |
-- |
(5) |
|
ANB |
126 |
-- |
(1) |
|
SNB |
477 |
+6 |
(23) |
|
Alinma |
108 |
+4 |
-- |
|
AlJazira |
80 |
-- |
(2) |
|
Emirates NBD |
13 |
+5 |
-- |
|
Industrial and Commercial Bank of China (ICBC) |
2 |
+1 |
-- |
|
QNB |
2 |
+1 |
-- |
|
Sohar International Bank* |
1 |
+1 |
-- |
|
Total |
+19 |
(50) |
|
*The opening of its first branch in the Kingdom was in July 2023, marking the commencement of its banking operations in the Saudi market.
As many as 10 Tadawul-listed banks operate in the Kingdom, in addition to 18 foreign banks, including Emirates NBD (seven branches), Gulf International Bank (three), National Bank of Kuwait (three), and First Abu Dhabi Bank (three).
Foreign banks with branches in the Kingdom include France’s BNP Paribas, Germany’s Deutsche Bank, Bank Muscat, National Bank of Bahrain, JPMorgan Chase & Co., National Bank of Pakistan, Ziraat Bank Turkey, Industrial and Commercial Bank of China, Qatar National Bank, Bank of Tokyo-Mitsubishi UFJ, Credit Suisse, Standard Chartered, National Bank of Iraq, and Sohar International Bank.
Branches of Saudi banks decreased to 1,858 by the end of 9M 2023. Al Rajhi Bank led the list with 511 branches, followed by Saudi National Bank (SNB) (477), Riyad Bank (223), and Arab National Bank (ANB) (126), as follows:
|
Branches of Saudi Banks in 9M 2023 |
|||
|
Bank |
2022 |
9M 2023 |
Change (Branch) |
|
Al Rajhi |
516 |
511 |
(5) |
|
SNB |
494 |
477 |
(17) |
|
Riyad |
236 |
223 |
(13) |
|
ANB |
127 |
126 |
(1) |
|
Alinma |
104 |
108 |
+4 |
|
Bank Albilad |
105 |
105 |
-- |
|
SAB |
100 |
95 |
(5) |
|
Banque Saudi Fransi (BSF) |
82 |
82 |
-- |
|
AlJazira |
82 |
80 |
(2) |
|
Saudi Investment Bank (SAIB) |
51 |
51 |
-- |
|
Total |
1,897 |
1,858 |
(39) |
Geographically, Riyadh had the highest number of bank branches, with 581. Makkah followed with 380 branches and the Eastern Province with 357 branches, as indicated below:
|
Bank Branches by Region in 9M 2023 |
|
|
Region |
Number of Branches |
|
Riyadh |
581 |
|
Makkah |
380 |
|
Eastern Province |
357 |
|
Aseer |
122 |
|
Qassim |
114 |
|
Madinah |
101 |
|
Jazan |
54 |
|
Tabuk |
47 |
|
Hail |
42 |
|
Al Jouf |
28 |
|
Al Baha |
26 |
|
Najran |
26 |
|
Northern Borders |
18 |
|
Total |
1,896 |
Average assets per branch rose to SAR 2.058 billion in the first nine months of 2023 from SAR 1.879 billion by the end of 2022.
Average loans increased to SAR 1.306 billion per branch, with average deposits rising to SAR 1.295 billion per branch, as the following table shows:
|
Average Assets, Deposits, Loans and Profit per Branch (SAR mln/branch) |
||||
|
Period |
Average Assets |
Average Loans |
Average Deposits |
Average Profit |
|
2006 |
674 |
373 |
463 |
27.1 |
|
2007 |
795 |
427 |
530 |
22.4 |
|
2008 |
924 |
521 |
600 |
21.2 |
|
2009 |
902 |
483 |
619 |
17.7 |
|
2010 |
890 |
488 |
619 |
16.4 |
|
2011 |
962 |
530 |
687 |
18.9 |
|
2012 |
1,049 |
601 |
760 |
19.9 |
|
2013 |
1,099 |
648 |
811 |
20.3 |
|
2014 |
1,133 |
666 |
832 |
21.0 |
|
2015 |
1,130 |
701 |
818 |
21.5 |
|
2016 |
1,128 |
699 |
803 |
19.9 |
|
2017 |
1,136 |
679 |
789 |
21.2 |
|
2018 |
1,162 |
700 |
811 |
23.3 |
|
2019 |
1,267 |
745 |
865 |
24.2 |
|
2020 |
1,479 |
875 |
965 |
19.2 |
|
2021 |
1,685 |
1,046 |
1,082 |
27.7 |
|
2022 |
1,879 |
1,188 |
1,191 |
35.9 |
|
9M 2023 |
2,058 |
1,306 |
1,295 |
30.7 |
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