Bank branches in Saudi Arabia drop to 1,932 (-13 branches) in Q1 2022

The number of bank branches operating in Saudi Arabia reached 1,932 at the end of Q1 2022, declining by 13 branches compared with 1,945 a year earlier.

The number of branches for Q1 2022 is the lowest since 2014 when it reached 1,909.

Two new branches opened in the first quarter of this year, while 15 closed, according to the latest bulletin issued by the Saudi Central Bank (SAMA).

Riyad Bank and Al Rajhi Bank shut four branches each by the end of Q1 2022.

In addition, Banque Saudi Fransi (BSF) closed three branches, while Saudi National Bank (SNB) closed two branches and Arab National Bank (ANB) closed one. Bank Albilad tailed the list, closing a branch and opening another in the three-month period.

Meanwhile, Bank AlJazira opened a new branch during Q1 and did not close any of its branches.

As many as 10 Tadawul-listed banks operate in the Kingdom, in addition to 16 foreign banks with branches in Saudi Arabia, including Emirates NBD (seven branches), Gulf International Bank (GIB) (three), National Bank of Kuwait (NBK) (three) and First Abu Dhabi Bank (FAB) (three). The foreign banks with branches operating in the Kingdom include BNP Paribas of France, Deutsche Bank of Germany, Bank Muscat, National Bank of Bahrain (NBB), JPMorgan Chase NA, of the United States, National Bank of Pakistan, Turkey’s Ziraat Bankasi, Industrial and Commercial Bank of China, Qatar National Bank, Bank of Tokyo-Mitsubishi UFJ, Credit Suisse and Standard Chartered.

The branches of Saudi banks decreased to 1,904 by the end of Q1 2022, topped by Al Rajhi Bank with 517 branches, followed by SNB (504), Riyad Bank (233), and ANB (130).

Riyadh had the highest number of bank branches, with 588 branches, followed by Makkah and the Eastern Province with 396 and 369 branches, respectively.

In addition, average assets per branch rose to SAR 1.744 billion in Q1 2022 from SAR 1.685 billion in 2021-end.

Average loans increased to SAR 1.105 billion per branch, with average deposits rising to SAR 1.121 billion per branch.