A look at bank branches in KSA in H1 2024

The number of bank branches in Saudi Arabia reached 1,903 by the end of H1 2024, up by two from 1,901 a year earlier.

Eighteen new branches opened in H1 2024, and 16 closed down, according to the latest bulletin issued by the Saudi Central Bank (SAMA).

The table below shows the changes in the number of bank branches in Saudi Arabia since 2006:

The first half witnessed the closure of several branches and the opening of new ones, as shown in the following table:

As many as 10 Tadawul-listed banks operate in the Kingdom. This is in addition to 18 foreign banks, including Emirates NBD (18 branches) and Gulf International Bank, National Bank of Kuwait, and First Abu Dhabi Bank with three branches each.

Industrial and Commercial Bank of China and Qatar National Bank (QNB) each has two branches in Saudi Arabia.

Foreign banks with one branch in the Kingdom include Shohar International Bank, National Bank of Iraq, Standard Chartered, Credit Suisse, MUFG Bank, Ziraat Bank Turkey, National Bank of Pakistan, JPMorgan Chase, National Bank of Bahrain, Bank Muscat, Germany’s Deutsche Bank and France’s BNP Paribas.

The number of Saudi-based bank branches decreased to 1,860 by the end of H1 2024. Al Rajhi Bank led with 511 branches, followed by Saudi National Bank (SNB) (476), Riyad Bank (232), and Arab National Bank (ANB) (122), as follows:

Geographically, Riyadh had the highest number of bank branches at 582. Makkah and Eastern Province followed with 376 and 357 branches, respectively, as indicated below:

Average assets per branch rose to SAR 2.21 billion by the end of H1 2024, from SAR 2.08 billion by the end of 2023.

Average loans increased to SAR 1.41 billion per branch, with average deposits rising to SAR 1.40 billion per branch, as the following table shows: