Banks in Saudi Arabia
The Saudi banking system consists of 37 licensed banks including 11 domestic financial institutions, three digital banks and 23 branches of foreign banks. The total assets of banking sector exceed US$1.1 trillion. Saudi Arabia Monetary Authority (SAMA), founded in 1952, is the country’s central bank. Below is a list of the largest and best banks in Saudi Arabia.
Top 10 Banks in Saudi Arabia
Following is a list of the ten largest banks in Saudi Arabia ranked by total assets in billions of U.S. dollars.
| Rank | Bank | Total Assets, US$b (09/2024) |
| 1 | Saudi National Bank (SNB) | 299.775 |
| 2 | Al Rajhi Bank | 240.589 |
| 3 | Riyad Bank | 115.518 |
| 4 | Saudi Awwal Bank (SAB) | 105.383 |
| 5 | Banque Saudi Fransi | 76.681 |
| 6 | Alinma Bank | 71.167 |
| 7 | Arab National Bank | 64.231 |
| 8 | Bank AlBilad | 40.976 |
| 9 | Saudi Investment Bank (SAIB) | 40.317 |
| 10 | Bank AlJazira | 38.702 |
Saudi National Bank
Saudi National Bank (also known as Bank AlAhli) is the biggest financial institution in Saudi Arabia in terms of total assets and the second-largest by market capitalization. The company was formed through the merger of the National Commercial Bank and Samba Financial Group in 2021. SNB's total assets amounted to US$300 billion as of September 30, 2024.
Al Rajhi Bank
Al Rajhi Bank is the second largest bank in Saudi Arabia by total assets and the largest by market capitalization and number of branches and ATMs. It is a number one in Saudi Arabia by auto loans, personal loans and mortgages. It is also the largest retail bank in the Middle East in terms of market share of current accounts and deposits. With about 18 million customers, it has a network of over 500 branches, 135 remittance centers and 4,400 ATMs nationwide as well as branches in Malaysia, Jordan and Kuwait.
Riyad Bank
Riyad Bank, founded in 1957, is the third largest bank in the Kingdom of Saudi Arabia in terms of total assets. With over 7,800 employees, it operates through approximately 330 branches and 1,900 ATMs. As of September 30, 2024, the company reported total assets of US$116 billion, customer deposits of US$78 billion, loans of US$81 billion and shareholders' equity of $15 billion. Riyad Bank has credit ratings from Fitch, Standard & Poor’s and Moody's. The Bank's market capitalization was US$23 billion as of December 2024.
Saudi Awwal Bank (SAB)
Saudi Awwal Bank (SAB) is a universal commercial bank providing a full range of products and services including current and savings accounts, business and personal loans, time deposits, mortgages, trade finance, cash management, debit and credit cards, treasury services as well as Shariah approved products. It was named Best Private Bank and Best Trade Finance Provider by Global Finance, and Best Credit Card Brand by Banker Middle East. SAB was formed in June 2019, through the merger of Saudi British Bank (SABB) and Alawwal Bank (formerly Saudi Hollandi Bank, the first bank opened in the Kingdom of Saudi Arabia).
Banque Saudi Fransi
Banque Saudi Fransi (BSF) is one of the top 5 banks in Saudi Arabia. With about 3,000 employees, it operates through more than 80 branches, 18 ladies sections and 570 ATMs across the country. BSF offers personal and business banking, Islamic banking, wealth management, foreign exchange and other services. Banque Saudi Fransi is affiliated with Credit Agricole CIB, a corporate & investment unit of French Credit Agricole Group. The Bank was established in 1977 and is headquartered in Riyadh.
Arab National Bank
Arab National Bank (ANB) is one of the leading financial institutions in Saudi Arabia and the Middle East. With over 2 million customers, it has a network of 135 local branches, 90 remittance and 11 sales centers, SME and corporate offices as well as an international branch in London, UK. ANB's key business areas are retail, private and corporate banking, treasury solutions, project and structured finance and investment and brokerage services.
Alinma Bank
Alinma Bank is a large Saudi bank headquartered in Riyadh. With over 2,500 employees, it offers a comprehensive range of Shariah-compliant retail, corporate and investment banking services across all regions of the Kingdom. Alinma is the first bank in Saudi Arabia to install coin deposit machines. As at March 25, 2023, Alinma Bank had a market capitalization of over US$15 billion.
Bank AlBilad
Bank AlBilad, established in 2004, provides a broad array of sharia compliant products and services. It offers personal, corporate and SME banking, investment banking, brokerage and treasury solutions, auto financing, credit and debit cards, online banking and more.
Bank AlJazira
Bank AlJazira is one of the leading Shariah compliant financial services groups in Saudi Arabia. The company operates through around 80 branches and 60 Fawri Remittance Centers across the Kingdom. As of September 2024, it recorded total assets of US$39 billion.
Saudi Investment Bank
The Saudi Investment Bank (SAIB), founded in 1976, provides retail, commercial and wholesale banking products and services through over 50 branches. SAIB's shareholders are JP Morgan Chase, Mizuho Corporate Bank, Industrial Bank of Japan, Saudi private and public institutions and Saudi Individuals. For the year ended December 31, 2023, SAIB had revenue of $1.5 billion and net income of $470 million.
Samba Financial
Samba Financial Group was the fourth largest bank in Saudi Arabia with 73 branches, 21 ladies centers, 7 speed cash centres, 540 ATMs and 3,600 employees. Samba was the first in the country to offer Islamic credit and debit cards, phone banking, investment banking, brokerage, leasing, credit shield insurance, Murabaha-based cash finance, GCC online trading and FX derivatives, among others. In April 2021, Samba merged with NCB to create Saudi National Bank.
Related article: Foreign Banks in Saudi Arabia
Digital Banks in Saudi Arabia
- D360 Bank
- STC bank
- Vision Bank
Last updated January 16, 2025