Number of Saudi bank employees edge lower in 2016

27/09/2017 Argaam Special

The number of employees in the Saudi banking sector dropped 0.5 percent year-on-year (YoY) in 2016 to 49,340, of which nationals accounted for 91 percent, or 44,900, while foreigners made up 9 percent, data issued by the Saudi Arabian Monetary Authority showed.

 

This is the first drop in the employee numbers in more than a decade.

 

Employees in banking sector

Year

Saudis

Non-Saudis

Total

Y-o-Y Variation

2005

25,840

5,749

31,589

--

2006

30,113

5,911

36,024

+14.0%

2007

33,007

6,056

39,063

+8.4%

2008

33,719

6,188

39,907

+2.2%

2009

33,970

6,514

40,484

+1.4%

2010

34,258

6,431

40,689

+0.5%

2011

35,898

6,175

42,073

+3.4%

2012

38,216

6,445

44,661

+6.2%

2013

40,440

5,738

46,178

+3.4%

2014

42,380

5,208

47,588

+3.1%

2015

44,688

4,875

49,563

+4.2%

2016

44,852

4,483

49,335

(0.5%)

 

Meanwhile, the number of employees working in Saudi insurance companies rose 3.7 percent YoY in 2016 to around 10,040, 58 percent of which are nationals.

 

Saudis occupying non-supervisory posts accounted for 64 percent of total insurance positions in 2016, compared to 62 percent in 2015, while the number of Saudis holding supervisory positions fell to 36 percent in 2016 from 43 percent in 2015.

 

Employees in insurance companies

Nationality

Non-managerial jobs

Managerial jobs

Total number of employees

2015

2016

2015

2016

2015

2016

Arab

1,258

1,392

512

814

1,770

2,206

Non-Arab

1,733

1,475

473

496

2,206

1,971

Saudis

4,974

5,129

732

733

5,706

5,862

Total

7,965

7,996

1,717

2,043

9,682

10,039

Saudization rate

62 %

64%

43%

36%

59%

58 %

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