The Saudi banking system consists of 24 licensed banks including 12 domestic financial institutions and 17 branches of foreign banks. The total assets of banking sector amounted to approximately US$600 billion in 2018. Saudi Arabia Monetary Authority (SAMA), founded in 1952, is the country’s central bank. Dr. Ahmed Abdulkarim Alkholifey is the Governor of SAMA. Below is a list of the top 10 largest banks in Saudi Arabia.

National Commercial Bank

Headquartered in Jeddah, National Commercial Bank (or AlAhli Bank) is the largest bank in Saudi Arabia by total assets and the second-largest by market capitalization. It is also one of the largest Islamic banks in the world in terms of assets. AlAhli serves over 5.4 million customers through 400 branches and 3,500 ATMs across the Kingdom. As of March 31, 2019, it recorded total assets of US$124 billion, customer deposits of US$82.5 billion and total equity of US$18.3 billion. It was named the Best Bank in Saudi Arabia by Euromoney, Best Islamic Card in KSA by Islamic Business & Finance, and Best Consumer Digital Bank and Best in Mobile Banking for Consumers in Saudi Arabia by Global Finance magazine. The Bank's market capitalization was US$36 billion as of October 7, 2019.

Al Rajhi Bank

Al Rajhi Bank is the second largest bank in Saudi Arabia based on total assets and the largest by 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 over 9 million customers, it has a network of more than 550 branches, 236 remittance centers and 5,000 ATMs nationwide as well as 18 branches in Malaysia, 2 in Kuwait and 10 in Jordan. As of March 31, 2019, Al Rajhi Bank posted total assets of US$97 billion.

Riyad Bank

Founded in 1957, Riyad Bank is the third largest bank in the Kingdom of Saudi Arabia in terms of total assets. With over 5,500 employees, it operates through approximately 350 branches and 2,600 ATMs. As of March 31, 2019, the company had total assets of US$63.8 billion, customer deposits of US$46 billion and loans of US$42 billion. Net income for the year ended December 31, 2018 was US$1.26 billion. Riyad Bank has a long term rating of A- from Fitch, BBB+ from Standard & Poor’s and A1 from Moody's.

Samba Financial

Samba Financial Group is the fourth largest bank in the Kingdom of Saudi Arabia with 72 branches, 25 ladies centers, 30 speed cash centres, 540 ATMs and 3,290 FTE employees. It also has overseas branches in London (UK), Qatar, Pakistan and Dubai. Samba was the first in the country to offer Islamic credit cards, debit cards, phone banking, investment banking, brokerage, leasing, credit shield insurance, Murabaha-based cash finance, GCC online trading and FX derivatives, among others. As of March 31, 2019, Samba Financial Group’s total assets were US$61 billion and revenue for the first quarter 2019 was US$530 million.

Banque Saudi Fransi

Banque Saudi Fransi (BSF) is one of the top 10 banks in Saudi Arabia. With over 3,000 employees, it operates through more than 80 branches, 18 ladies sections and 560 ATMs across the country. BSF offers personal and business banking, Islamic banking, wealth management 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.

Saudi British Bank

Saudi British Bank (SABB) is a universal commercial bank providing a full range of products and services including current and saving accounts, business and personal loans, time deposits, mortgages, trade finance, cash management, credit and debit cards, treasury services as well as Shariah approved products. SABB was named Best Private Bank and Best Trade Finance Provider by Global Finance magazine; Best Credit Card Brand by Banker Middle East; and Best CSR Bank Saudi Arabia by Global Banking & Finance. As at March 31, 2019, the Bank's total assets amounted to US$46 billion and customer deposits reached US$34 billion. On 16 June 2019, Saudi British Bank completed the merger with Alawwal bank creating the third-largest Saudi lender.

Arab National Bank

Arab National Bank (ANB) is one of the leading financial institutions in Saudi Arabia and one of the top 10 banks in the Middle East. With over 2 million customers, the Bank operates a network of 140 branches, 1,250 ATMs, 95 remittance centers and 14 sales centers in the Kingdom and one branch in London, the UK. ANB's key areas are retail and private banking, commercial banking, corporate banking, treasury services and project & structured finance.

Alinma Bank

Alinma Bank is a large Saudi bank headquartered in Riyadh. With 2,700 employees, it offers a comprehensive range of Shariah-compliant retail, corporate and investment banking services through 90 locations for men, 63 locations for women, 5 sales centers and 1,460 ATMs across all regions of the Kingdom. Alinma is the first bank in Saudi Arabia to install coin deposit machines. As at May 2019, Alinma Bank had a market capitalization of US$11 billion.

Alawwal Bank

Alawwal Bank (formerly Saudi Hollandi Bank), established in 1926, was the first bank to operate in Saudi Arabia. Today the company provides award-winning personal and corporate banking services and operates through more than 67 branches and over 560 ATMs throughout the country. In 2016, it was rebranded from Saudi Hollandi Bank to Alawwal Bank. In 2017, the company launched its first digital branch IBDA. In 2018, Alawwal Bank was named "Best Private Bank in KSA" and "Most Innovative Bank in KSA" (Banker Middle East). In October 2018, Alawwal's Board of Directors approved a merger with SABB (Saudi British Bank). The new entity will become Saudi Arabia's third-biggest lender with over US$70 billion in assets. The merger is expected to be in the first half of 2019.

Saudi Investment Bank

The Saudi Investment Bank (SAIB), founded in 1976, is a major bank in Saudi Arabia providing 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. As at June 30, 2018, Saudi Investment Bank had total assets of US$27 billion (SAR 101.953 billion), customer deposits of US$19 billion (SAR 71.301 billion) and loans and advances of US$16 billion (SAR 59.331 billion).

Bank AlJazira

Bank AlJazira is one of the leading Shariah compliant financial services groups in Saudi Arabia. The company operates through more than 80 branches and 50 Fawri Remittance Centers across the Kingdom. As of December 31, 2018, it recorded total assets of US$19.5 billion.

Top 10 Banks in Saudi Arabia by assets

The list below shows the ten largest banks in the Kingdom of Saudi Arabia ranked by total assets in billion U.S. dollars.

Rank Bank Total Assets, US$b (March 31, 2019)
1 National Commercial Bank 124.182
2 Al Rajhi Bank 96.662
3 Riyad Bank 63.780
4 Samba Financial Group 61.246
5 Banque Saudi Fransi * 50.594
6 Saudi British Bank 46.245
7 Arab National Bank 45.002
8 Alinma Bank 32.432
9 Saudi Investment Bank 25.297
10 Alawwal Bank * 21.836

* Data as of December 31, 2018

Top 10 Saudi Banks by market capitalization

 Following are the top 10 banks in Saudi Arabia ranked by market value as of August 5, 2019.

Rank Company Market capitalization, US$b
1 Al Rajhi Bank 44.52 B
2 National Commercial Bank 42.57 B
3 Saudi British Bank 20.95 B
4 Riyad Bank 20.41 B
5 Samba Financial Group 16.05 B
6 Banque Saudi Fransi 12.27 B
7 Arab National Bank 10.12 B
8 Alinma Bank 9.94 B
9 Bank AlBilad 5.89 B
10 Saudi Investment Bank 3.68 B
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List of Foreign Banks in Saudi Arabia

This is a list of branches and subsidiaries of foreign banks operating in Saudi Arabia.

Bank of America Merrill Lynch
Address: Olaya Main Street, Kingdom Tower, 20th Floor
Phone: +966 11 299 3700

JPMorgan, with a strong presence in the country, provides corporate and investment banking, and treasury and trade finance services.
JPMorgan Saudi Arabia Limited (JPMSA)
Al-Faisalia Tower, Level 8
PO Box 51907 Riyadh 11553
Tel: +966 11 299 3803

JPMorgan Chase Bank NA, Riyadh Branch
Rayan Fayez, Senior Country Officer
Al-Faisalia Tower, Level 25
PO Box 51907 Riyadh 11553
Tel: +966 11 299 3800

HSBC Saudi Arabia Ltd, the full-service investment bank, is a joint venture between HSBC Holdings and SABB (Saudi British Bank).
7267 Olaya, AlMurooj
Riyadh 12283-2255
Kingdom of Saudi Arabia
Opening hours: Sunday-Thursday, 9:00 am - 5:00 pm
Tel: 92 000 5920

Morgan Stanley Saudi Arabia (MSSA) is a closed joint stock company established in 2007. It provides advisory and corporate finance services.
Address: Al Rashid Tower, Floor 10, Al Ma'ather Street, Riyadh 11586
Phone: 966 0 11 218 7000

MUFG Bank Ltd, Riyadh Branch
The branch was opened in 2018 and provides a wide array of banking services to corporate customers including loans, deposits, settlement accounts, bank guarantees, letters of credit, foreign exchange and remittances, among others.
Address: 5th Floor, Building RD-01
Al-Raidah Digital City
PO Box 66822, Riyadh 11586
The Kingdom of Saudi Arabia
Tel: +966 11 835 3900

BNP Paribas Investment Company, KSA
4th floor of the Al-Faisaliah Tower
King Fahad Road in the Olaya District
Riyadh 11425
Tel: +966 11 273 9134

Deutsche Bank AG, Riyadh Branch
Faisaliah Tower, 17th floor
King Fahad Road, Al Olaya District

Deutsche Securities Saudi Arabia LLC
Faisaliah Tower, 17th floor
King Fahad Road, Al Olaya District
Riyadh 11372

Emirates NBD Capital, KSA
Prince Mohamed bin Abdul Aziz
Mansouriah Commercial Center (next to Seif Motors)
Street (Tahliah), Riyadh 11333

Emirates NBD, KSA
King Fahad Road
Olaya P.O. Box 8166
Riyadh 11482

First Abu Dhabi Bank
Gulf International Bank
Industrial and Commercial Bank of China (ICBC)
Muscat Bank
National Bank of Bahrain
National Bank of Kuwait
National Bank of Pakistan (NBP)
Qatar National Bank
Standard Chartered Bank
State Bank of India (business has been stopped)
Trade Bank of Iraq
Ziraat Bankası A.S.