Saudi Arabia gets a new bank - and Saudi National Bank is already market leader | Banking – Gulf News
Saudi Arabia’s newest bank is now open…
Created from the merger of two banking giants, the Saudi National Bank immediately starts off as being the ‘largest’ in the Kingdom. It sure has the numbers.
• Total assets – 896 billion riyals ($239 billion)
• Combined net profit – 15.6 billion riyals ($4.2 billion)
• Shareholders’ equity – 127 billion riyals ($34 billion)
• Combined market share – 30 per cent
“With the legal completion of the merger, Saudi National Bank is in prime position to compete regionally and locally, ultimately creating a positive impact for all of our stakeholders,” said Ammar Alkhudairy, Chairman of Saudi National Bank.
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