Number of bank branches in Saudi Arabia falls to 1,927 in 2022

The number of bank branches in Saudi Arabia reached 1,927 by the end of 2022, down 18 branches, from 1,945 a year earlier.

The number of bank branches fell last year to the lowest level since 2014, when it stood at 1,909.

A total of 22 new branches opened last year, while 40 were closed, according to the latest bulletin issued by the Saudi Central Bank (SAMA).

The table below shows the development in the number of bank branches in the Kingdom since 2006:

Last year witnessed the closure of several branches, in addition to the opening of new ones, as shown in the following table:

*Opened the first branch in Saudi Arabia and started operations. 

As many as 10 Tadawul-listed banks operate in the Kingdom, in addition to 17 foreign banks, including Emirates NBD (seven branches), Gulf International Bank (three), National Bank of Kuwait (three), and First Abu Dhabi Bank (three).

Foreign banks with branches operating in the Kingdom include France’s BNP Paribas, Germany’s Deutsche Bank, Bank Muscat, National Bank of Bahrain, JPMorgan Chase & Co., National Bank of Pakistan, Ziraat Bank Turkey, Industrial and Commercial Bank of China, Qatar National Bank, Bank of Tokyo-Mitsubishi UFJ, Credit Suisse, Standard Chartered and National Bank of Iraq.

Branches of Saudi banks decreased to 1,897 by the end of 2022. Al Rajhi Bank led the list with 516 branches, followed by SNB (494), Riyad Bank (236) and ANB (127), as follows:

Riyadh reported the highest number of bank branches at 590. Makkah followed with 391 and the Eastern Province with 368, as indicated below: 

In addition, the average assets per branch rose to SAR 1.87 billion in 2022 from SAR 1.68 billion in 2021.

Average loans increased to SAR 1.18 billion per branch, with average deposits rising to SAR 1.19 billion per branch, as the following table shows:

Details and Historical Data of Bank Rankings