The number of bank branches in Saudi Arabia reached 1,910 by the end of the first nine months of 2024, from 1,901 a year earlier.
Twenty-seven new branches opened during the current period, and 18 closed down, according to the latest bulletin issued by the Saudi Central Bank (SAMA).
The table below shows the changes in the number of bank branches in Saudi Arabia since 2006:
|
Bank Branches |
||
|
Period |
Number of Branches |
Change (YoY) |
|
2006 |
1,289 |
+ 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) |
|
2023 |
1,901 |
(26) |
|
9M 2024 |
1,910 |
+9 |
The nine-month period witnessed the closure of several branches and the opening of new ones, as shown in the following table:
|
Banks Branches Opened/Closed in 9M 2024 |
|||
|
Bank |
Branches |
Opened |
Closed |
|
SNB |
482 |
+ 13 |
(1) |
|
Alinma Bank |
113 |
+5 |
-- |
|
Emirates NBD |
19 |
+4 |
-- |
|
Al Rajhi Bank |
512 |
+4 |
(1) |
|
SAB |
93 |
-- |
(1) |
|
Bank Albilad |
107 |
-- |
(1) |
|
Bank AlJazira |
74 |
-- |
(1) |
|
Riyad Bank |
231 |
+1 |
(7) |
|
ANB |
121 |
-- |
(6) |
|
Total |
+27 |
(18) |
|
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 with 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, Bank Muscat, Deutsche Bank and BNP Paribas.
The number of Saudi-based bank branches decreased to 1,866 by the end of the first nine months of 2024. Al Rajhi Bank led with 512 branches, followed by Saudi National Bank (SNB) (482), Riyad Bank (231), and Arab National Bank (ANB) (121), as follows:
|
Branches of Saudi Banks in 9M 2024 |
|||
|
Bank |
2023 |
9M 2024 |
Change (Branch) |
|
Al Rajhi Bank |
509 |
512 |
+3 |
|
SNB |
470 |
482 |
+12 |
|
Riyad Bank |
237 |
231 |
(6) |
|
ANB |
127 |
121 |
(6) |
|
Alinma Bank |
108 |
113 |
+5 |
|
Bank Albilad |
108 |
107 |
(1) |
|
SAB |
94 |
93 |
(1) |
|
BSF |
82 |
82 |
-- |
|
Bank AlJazira |
75 |
74 |
(1) |
|
SAIB |
51 |
51 |
-- |
|
Total |
1,861 |
1,866 |
+5 |
Geographically, Riyadh had the highest number of bank branches at 586. Makkah and Eastern Province followed with 378 and 357 branches, respectively, as indicated below:
|
Bank Branches by Region in 9M 2024 |
|
|
Region |
Number of Branches |
|
Riyadh |
586 |
|
Makkah |
378 |
|
Eastern Province |
357 |
|
Aseer |
123 |
|
Qassim |
119 |
|
Madinah |
103 |
|
Jazan |
54 |
|
Tabuk |
47 |
|
Hail |
44 |
|
Al Jouf |
28 |
|
Al Baha |
26 |
|
Najran |
26 |
|
Northern Borders |
19 |
|
Total |
1,910 |
Average assets per branch rose to SAR 2.29 billion by the end of 9M 2024, from SAR 2.08 billion by the end of 2023.
Average loans increased to SAR 1.45 billion per branch, with average deposits rising to SAR 1.42 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 |
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 |
|
2023 |
2,082 |
1,325 |
1,301 |
40.7 |
|
9M 2024 |
2,292 |
1,453 |
1,423 |
34.3 |
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