Saudi banks open 8 new branches in H1 2019

Nevertheless, the central bank said that ten other branches closed down during the same period. Accordingly, the total number of bank branches in the Kingdom declined to 2,062 in the first half, compared to 2,064 by the end of 2018.

**2018 data reclassification

Riyad Bank shut nine branches, while the Arab National Bank (ANB) shut one of its branches.

Meanwhile, National Commercial Bank (NCB) and Alinma Bank inaugurated four branches and two branches, respectively. Banque Saudi Fransi and National Bank of Kuwait (NBK) launched one new branch each. 

As many as 14 foreign banks are currently operating in the country, including Emirates NBD (four branches), Gulf International Bank (three branches), BNP Paribas of France, National Bank of Kuwait (two branches), as well as one branch for Deutsche Bank of Germany, Bank Muscat, National Bank of Bahrain (NBB), and JPMorgan Chase & Co. of the United States, Pakistan National Bank, Ziraat Bank of Turkey, Qatar National Bank, First Abu Dhabi Bank, Industrial and Commercial Bank of China and Tokyo-Mitsubishi UFJ.

Saudi-listed banks had 2,042 branches by the end of H1 2019, topped by Al Rajhi Bank with 551 branches. It was followed by NCB (405) and Riyad Bank (312).

Saudi British Bank (SABB), after merger completion with Alawwal Bank, took the fourth place with 142 branches.

* Alawwal branches were transferred  

**2018 data reclassification

Riyadh had the biggest number of bank branches (627). Makkah region followed with 436 branches, and the Eastern Province (403 branches).

Average assets per branch rose to SAR 1.180 billion in H1 2019 from SAR 1.145 billion by the end of 2018. Average loans increased to SAR 710 million per branch, with average deposits also rising to SAR 814 million per branch, data compiled by Argaam showed.