Saudi banks open 8 new branches in H1 2019

21/08/2019 Argaam Special

 

Banks operating in Saudi Arabia opened eight new branches in the first half of 2019, according to the central bank’s latest bulletin.

 

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.

 

Bank Branches

Variation (YoY)

Number of bank branches

Year

+ 65

1,289

2006

+ 64

1,353

2007

+ 57

1,410

2008

+ 109

1,519

2009

+ 72

1,591

2010

+ 55

1,646

2011

+ 50

1,696

2012

+ 72

1,768

2013

+ 144

1,912

2014

+ 77

1,989

2015

+ 49

2,038

2016

+ 41

2,079

2017

(15)

2,064

2018**

(2)

2,062

H1 2019

**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. 

 

Bank Branches Opened/Closed in H1 2019

New openings

Number of branches

Bank

+ 4

405

NCB

+2

92

Alinma

+1

87

BSF

+1

2

NBK

(1)

139

ANB

(9)

312

Riyad

 

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.

 

Number of Branches Per Bank

Variation (branch)

H2 2019

2018**

Bank

--

551

551

Al Rajhi

+4

405

401

NCB

(9)

312

321

Riyad Bank

+67

142

75

SABB*

(1)

139

140

ANB

--

111

111

Bank Albilad

+2

92

90

Alinma

+1

87

86

BSF

--

79

79

Aljazira Bank

--

72

72

Samba

--

52

52

SAIB

(67)

--

67

Alawwal*

(3)

2,042

2,045

Total

* 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).

 

Bank Branches by Region

Number of branches

Region

627

Riyadh

436

Makkah

403

Eastern Region

126

Aseer

121

Qassim

103

Medina

54

Tabuk

52

Jazan

42

Hail

32

Najran

25

Al Jouf

25

AlBaha

16

Northern boarders

2,062

Total

 

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.

 

Average Assets, Deposits, Loans, Profit per Branch (SAR mln/branch)

Average profit

Average deposits

Average loans

Average assets

Period

27

459

369

668

2006

22

530

427

795

2007

21

600

521

924

2008

18

619

483

902

2009

16

619

488

889

2010

19

670

521

938

2011

20

743

589

1,022

2012

20

793

636

1,071

2013

21

824

657

1,115

2014

21

807

690

1,110

2015

20

793

690

1,107

2016

21

779

670

1,109

2017

23

804

695

1,145

2018*

12

814

710

1,180

H1 2019

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