The Saudi banking system consists of 30 licensed banks including 12 domestic financial institutions and branches of foreign banks. The total assets of banking sector exceed US$630 billion. Saudi Arabia Monetary Authority (SAMA), founded in 1952, is the country’s central bank. Below is a list of the top 10 largest banks in Saudi Arabia.

National Commercial Bank

National Commercial Bank (or AlAhli Bank) is the largest bank in Saudi Arabia by assets and the second-largest by market capitalization. It is also one of the largest Islamic banks in the world. AlAhli serves over 8 million customers through about 460 branches and 3,600 ATMs across the Kingdom. As of March 31, 2020, it had total assets of US$142 billion, deposits of US$100 billion and total equity of US$17.3 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 by Global Finance.

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 545 branches, 230 remittance centers and 5,260 ATMs nationwide as well as 16 branches in Malaysia, 2 in Kuwait and 10 in Jordan. As of March 31, 2020, Al Rajhi Bank posted total assets of US$104 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 5,900 employees, it operates through approximately 340 branches and 2,540 ATMs. As of March 31, 2020, the company had total assets of US$74.3 billion, customer deposits of US$51 billion and loans of US$49 billion. Riyad Bank has a long term credit rating of BBB+ from Fitch and Standard & Poor’s, and A2 from Moody's. The Bank's market capitalization was US$13 billion as of June 30, 2020.

Samba Financial

Samba Financial Group is the fourth largest bank in the Kingdom of Saudi Arabia with 73 branches, 21 ladies centers, 7 speed cash centres, 540 ATMs and 3,600 FTE employees. It also has overseas branches in Qatar, Pakistan and Dubai. The London branch was closed. 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. For the year ended December 31, 2019, Samba reported revenue of US$2.8 billion and net income of US$1.1 billion.

Saudi British Bank

Saudi British Bank (SABB) is the fifth largest bank in KSA by assets. It 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, and Best Credit Card Brand by Banker Middle East. In June 2019, SABB completed the merger with Alawwal bank (formerly Saudi Hollandi Bank).

Banque Saudi Fransi

Banque Saudi Fransi (BSF) is one of the top 10 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 one of the top 10 banks in the Middle East. With over 2 million customers, the Bank has a network of 137 local branches, 90 remittance centers, 11 sales centers, SME centers as well as one international 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 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 June 30, 2020, Alinma Bank had a market capitalization of US$7.8 billion.

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 March 31, 2020, Saudi Investment Bank had total assets of US$27 billion, customer deposits of US$18 billion, and net loans and advances of US$16 billion.

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 March 31, 2020, it recorded total assets of US$24 billion.

Related articles: Foreign Banks in Saudi Arabia

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, 2020)
1 National Commercial Bank (NCB) 142.053
2 Al Rajhi Bank 104.056
3 Riyad Bank 74.264
4 Samba Financial Group 70.915
5 Saudi British Bank (SABB) 70.422
6 Banque Saudi Fransi 52.885
7 Arab National Bank 49.086
8 Alinma Bank 36.647
9 Islamic Development Bank (IsDB) * 32.599
10 Saudi Investment Bank (SAIB) 26.765

* Data as of December 31, 2019