Saudi Arabia adds 144 new bank branches by end of 2014

Riyad Bank was the biggest contributor after opening 66 new branches last year, followed by Al-Rajhi Bank with 22 branches, and the National Commercial Bank (NCB) with 20.

Banque Saudi Fransi, however, shut one of its branches during the same period.

Saudi Arabia is currently home to 23 operational banks; 11 of which are foreign banks, and 12 of which are listed on the stock market.

Local banks expanded their branches to 1,899 branches by the end of December 2014, led by Al-Rajhi with 501 branches, Al-Ahli with 342, Riyad Bank with 318, and the Arab National Bank with 156.

With regard to geographical distribution, the capital city of Riyadh hosted the highest number of branches per city with 586 branches, followed by Makkah with 412 branches, and the Eastern Province with 366.

The average asset size per branch, across the board, rose significantly by the end of 2014 to SAR 1,115 billion compared to SAR 1,071 billion by end of 2013. The average size of deposits per branch climbed to SAR 824 million. The average number of loans paid by per branch was SAR 657 million.