Riyad Bank

Riyad Bank is one of the largest financial institutions in Saudi Arabia, ranked fourth in assets[6][7] It was established in 1957.[8] The Saudi government owns 51% of the shares of the firm.[8]

Riyad Bank
Public (Tadawul: 1010)
ISINSA0007879048 
IndustryFinance
Founded1957 (1957)
HeadquartersRiyadh, Saudi Arabia[1]
Key people
Abdullah Mohammed Al-Issa Chairman[2]
Tareq Al Sadhan CEO[3]
ProductsFinancial Services
Total assets265,788,878,000 Saudi riyal[4] (2019) 
Number of employees
5,973 [5]
Websitewww.riyadbank.com

As other Saudi commercial banks, Riyad Bank is supervised by the Saudi Arabian Monetary Authority.

In March 2018, Riyad Bank launched contactless payment wristbands, using the Gemalto digital security solution.[9][10]

In December 2018, Riyad bank went into preliminary discussions with National Commercial Bank (NCB), the country's biggest lender by assets, to study a merger plan. After three weeks Riyad Bank hired Goldman Sachs to advise on the merger that would create the largest bank in the kingdom with $182 billion in combined assets.[6][11]

See also

References
  1. "Riyad Bank Saudi Arabia". Commercial Banks of the World. BanksDaily. Retrieved 25 November 2013.
  2. http://www.riyadbank.com/English/AboutUs/BoardOfDirectors.html
  3. Tareq A. Al-Sadhan is the new CEO of Riyad Bank
  4. "Company Details". Tadawul. Retrieved 12 April 2020.
  5. Riyad Bank on Forbes Global 2000 list
  6. Four Charts That Show the Impact of Saudi Arabia's New Mega Bank Bloomberg
  7. ArgaamPlus. "QNB, NCB top list of biggest GCC banks". ArgaamPlus. Retrieved 2017-04-05.
  8. Oxford Business Group. The Report: Saudi Arabia 2008. Oxford Business Group. p. 72. ISBN 978-1-902339-00-9. Retrieved 18 September 2013.
  9. Financial.net, CPI. "Contactless payment bracelets launched in Saudi Arabia". CPI Financial. Retrieved 2018-03-13.
  10. "Riyad Bank launches Saudi Arabia's first contactless payment bracelets". LeapRate. 2018-03-12. Retrieved 2018-03-13.
  11. Saudi’s Riyad Bank selects Goldman to advise on merger talks with NCB Gulf Business


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