Here's a review of bank branches in Saudi Arabia in Q1 2023

The number of bank branches operating in Saudi Arabia fell by four, reaching 1,923 by the end of the first quarter of 2023, compared with 1,927 a year earlier.

The number of bank branches by the end of Q1 2023 is the lowest since 2015, when it reached 1,918.

A total of nine new branches opened in Q1, while 13 were closed down, according to the latest bulletin issued by the Saudi Central Bank (SAMA).

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

Bank Branches
Change (YoY)	Number of Branches	Year
+56	1,277	2006
+76	1,353	2007
+ 57	1,410	2008
+ 109	1,519	2009
+ 72	1,591	2010
+ 39	1,630	2011
+ 47	1,677	2012
+ 72	1,749	2013
+ 160	1,909	2014
+ 67	1,976	2015
+ 53	2,029	2016
+ 40	2,069	2017
(5)	2,064	2018
+ 12	2,076	2019
(62)	2,014	2020
(69)	1,945	2021
(18)	1,927	2022
(4)	1,923	Q1 2023

 

 

The three-month period witnessed the closure of several branches, in addition to the opening of new ones, as shown in the following table:

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 1,893 by the end of Q1 2023. Al Rajhi Bank led the list with 513 branches, followed by SNB (493), Riyad Bank (236) and ANB (126), as follows:

Details and Historical Data of Bank Rankings