‎Here’s a review of bank branches in Saudi Arabia in 9M 2022

‎Here’s a review of bank branches in Saudi Arabia in 9M 2022

The bank branches operating in Saudi Arabia fell by 17 banks, reaching 1,928 by the end of the first nine months of 2022, compared with 1,945 a year earlier.

On a quarterly basis, the number of bank branches by the end of Q3 2022 is the lowest since Q1 2015, when it reached 1,924.

A total of 13 new branches opened in 2022, while 30 were closed down, according to the latest bulletin issued by the Saudi Central Bank (SAMA).

The table below shows the development in the number of bank branches operating in the Kingdom since 2006:

The nine-month period witnessed the closure of several branches, in addition to the opening of new ones, as shown in the following table:

*Opens the first branch in Saudi Arabia and starts operations.

As many as 10 Tadawul-listed banks operate in the Kingdom, in addition to 17 foreign banks, including Emirates NBD (seven branches), Gulf International Bank (three), National Bank of Kuwait (three), and First Abu Dhabi Bank (three).

Foreign banks with branches operating in the Kingdom include France’s BNP Paribas, Germany’s Deutsche Bank, Bank Muscat, National Bank of Bahrain, JPMorgan Chase & Co., National Bank of Pakistan, Ziraat Bank Turkey, Industrial and Commercial Bank of China, Qatar National