Revealed: Biggest banks in Saudi Arabia
The top 10 biggest lenders in the Kingdom by 2014 total assets, taken from Gulf Business’ Top 50 GCC Banks list.
The GCC banking sector had a good year in 2014, with average net profit growing by 14 per cent, compared to 10 per cent the previous year.
The vast majority of GCC banks remain solidly capitalised with comfortable levels of liquidity – helped by growing customer deposits – and good profitability.
Loan asset quality for the sector improved further in 2014 through a fall in non-performing loans and an increase in provision coverage.
In Saudi Arabia, the sector was a bit more subdued, with average net profit rising by 10.2 per cent.
For banks in the Kingdom, economic growth and large capital investments, particularly in the infrastructure, SME and manufacturing sectors, continue to be growth drivers for the loan portfolios.
With the market opening up for foreign investors, sentiment has increased and is likely to attract more infrastructure investment going forward.
TOP 10 BIGGEST BANKS IN SAUDI ARABIA
1. National Commercial Bank
2014 assets ($000): 115,967,489
2013 assets ($000): 100,608,089
Growth: 15.27%
Net profit 2014 ($000): 2,344,851
2. Al Rajhi Banking Corporation
2014 assets ($000): 82,056,415
2013 assets ($000): 74,632,183
Growth: 9.95%
Net profit 2014 ($000): 1,822,979
3. Samba Financial Group
2014 assets ($000): 57,973,021
2013 assets ($000): 54,676,434
Growth: 6.03%
Net profit 2014 ($000): 1,334,687
4. Riyad Bank
2014 assets ($000): 57,223,811
2013 assets ($000): 54,732,394
Growth: 4.55%
Net profit 2014 ($000): 1,160,642
5. Banque Saudi Fransi
2014 assets ($000): 50,340,507
2013 assets ($000): 45,348,446
Growth: 11.01%
Net profit 2014 ($000): 937,691
6. Saudi British Bank
2014 assets ($000): 50,029,138
2013 assets ($000): 47,280,587
Growth: 5.81%
Net profit 2014 ($000): 1,137,616
7. Arab National Bank
2014 assets ($000): 43,911,561
2013 assets ($000): 36,782,780
Growth: 19.38%
Net profit 2014 ($000): 767,241
8. Saudi Hollandi
2014 assets ($000): 25,765,125
2013 assets ($000): 21,458,203
Growth: 20.07%
Net profit 2014 ($000): 485,576
9. Saudi Investment Bank
2014 assets ($000): 24,967,051
2013 assets ($000): 21,465,443
Growth: 16.31%
Net profit 2014 ($000): 383,061
10. Alinma Bank
2014 assets ($000): 21,563,162
2013 assets ($000): 16,800,329
Growth: 28.35%
Net profit 2014 ($000): 337,182