Bank branches in Saudi Arabia up at 1,907 in Q1 2024

10/07/2024 Argaam Special


The number of bank branches in Saudi Arabia reached 1,907 by the end of Q1 2024, up by six from 1,901 branches a year earlier.

 

A total of 11 new branches opened in Q1 2024, while five others closed down, 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

1289

+ 56

2007

1353

+ 76

2008

1410

+ 57

2009

1519

+ 109

2010

1591

+ 72

2011

1630

+39

2012

1677

+47

2013

1749

+72

2014

1909

+160

2015

1976

+67

2016

2029

+53

2017

2069

+40

2018

2064

(5)

2019

2076

+ 12

2020

2014

(62)

2021

1945

(69)

2022

1927

(18)

2023

1901

(26)

Q1 2024

1907

+ 6

 
 

The first quarter witnessed the closure of several branches and the opening of new ones, as shown in the following table:

 

Banks Branches Opened/Closed in Q1 2024

Bank

Number of Branches

New Openings

Closures

SNB

474

+ 4

--

Emirates NBD

18

+ 3

--

Alinma Bank

110

+ 2

--

Riyad Bank

238

+ 1

--

Al Rajhi Bank

509

+ 1

(1)

SAB

93

--

(1)

Bank Albilad

107

--

(1)

ANB

125

--

(2)

Bank AlJazira

75

--

--

Total

 

+ 11

(5)

 

As many as 10 Tadawul-listed banks operate in the Kingdom. This is in addition to 18 foreign banks, including Emirates NBD (18 branches) and Gulf International Bank, National Bank of Kuwait, and First Abu Dhabi Bank with three branches each.

 

Industrial and Commercial Bank of China and Qatar national Bank (QNB) each has two branches in Saudi Arabia.

 

Foreign banks which operate one branch in the Kingdom include, Shohar International Bank, National Bank of Iraq, Standard Chartered, Credit Suisse, MUFG Bank, Ziraat Bank Turkey, National Bank of Pakistan, JPMorgan Chase, National Bank of Bahrain, Germany’s Deutsche Bank, Bank Muscat and France’s BNP Paribas.

 

The number of Saudi-based bank branches decreased to 1,864 by the end of Q1 2024. Al Rajhi Bank led with 509 branches, followed by Saudi National Bank (SNB) (474), Riyad Bank (238), and Arab National Bank (ANB) (125), as follows:

 

Branches of Saudi Banks in Q1 2024

Bank

2023

Q1 2024

Change (Branch)

Al Rajhi Bank

509

509

--

SNB

470

474

+4

Riyad Bank

237

238

+ 1

ANB

127

125

(2)

Alinma Bank

108

110

+ 2

Bank Albilad

108

107

(1)

SAB

94

93

(1)

BSF

82

82

--

Bank AlJazira

75

75

--

SAIB

51

51

--

Total

1861

1864

+ 3

 
 

Geographically, Riyadh had the highest number of bank branches of 584. Makkah and Eastern Province followed with 379 and 358 branches, respectively, as indicated below:

 

Bank Branches by Region in Q1 2024

Region

Number of Branches

Riyadh

584

Makkah

379

Eastern Province

358

Asir

124

Qassim

117

Madinah

102

Jazan

54

Tabuk

48

Hail

42

Al Jouf

28

Al Baha

26

Najran

26

Northern Borders

19

Total

1907

 

Average assets per branch rose to SAR 2.15 billion by the end of Q1 2024, from SAR 2.08 billion by the end of 2023.

 

Average loans increased to SAR 1.36 billion per branch, with average deposits rising to SAR 1.36 billion per branch, as the following table shows:

 

Average Assets, Deposits, Loans & Profit per Branch (SAR mln)

Period

Average Assets

Average Loans

Average Deposits

Average Profit

2006

668

369

458

26.9

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

1049

601

760

19.9

2013

1099

648

811

20.3

2014

1133

666

832

21.0

2015

1130

701

818

21.5

2016

1128

699

803

19.9

2017

1136

679

789

21.2

2018

1162

700

811

23.3

2019

1267

745

865

24.2

2020

1479

875

965

19.2

2021

1685

1046

1082

27.7

2022

1879

1188

1191

35.9

2023

2082

1325

1301

40.7

Q1 2024

2156

1363

1361

10.9

 

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