Riyad Bank

Financial institution in the Kingdom of Saudi Arabia

Native name

بنك الرياض

ISINSA0007879048

Riyad Bank

Native name	بنك الرياض
Company type	Public (Tadawul: 1010)
ISIN	SA0007879048
Industry	Finance
Founded	November 23, 1957; 68 years ago (November 23, 1957)
Headquarters	Riyadh, Saudi Arabia^[1]
Key people	Abdullah Mohammed Al-Issa Chairman^[2] Nadir S Al-Koraya CEO^[3]
Products	Financial services
Total assets	265,788,878,000 Saudi riyal (2019)
Number of employees	5,973 ^[4]
Website	www.riyadbank.com

Riyad Bank (Arabic: بنك الرياض) is one of the largest financial institutions in Saudi Arabia, ranked fourth in assets.^[5]^[6]

It was established in 1957.^[7] The Saudi government owns 51% of the shares of the firm.^[7]

Like other Saudi commercial banks, Riyad Bank is supervised by the Saudi Central Bank.^[8]

In June 2010, the homepage of the bank's website was hacked by hackers demanding the dismissal of the mayor of the province of Medina.^[9]

In July 2013, Riyad Bank chose Calypso for the management of its global cash flows.

In March 2018, Riyad Bank launched contactless payment wristbands, using the Gemalto digital security solution.^[10]^[11]

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.^[5]^[12]

References

↑ "Riyad Bank Saudi Arabia". Commercial Banks of the World. BanksDaily. Retrieved 25 November 2013.
↑ "Board of Directors". Archived from the original on 2013-06-29. Retrieved 2013-09-19.
↑ "Tareq A. Al-Sadhan is the new CEO of Riyad Bank". Archived from the original on 2019-09-22. Retrieved 2019-09-22.
↑ "Riyad Bank | Company Overview & News". Forbes. Archived from the original on 2023-04-11.
1 2 Four Charts That Show the Impact of Saudi Arabia's New Mega Bank Bloomberg
↑ ArgaamPlus. "QNB, NCB top list of biggest GCC banks". ArgaamPlus. Retrieved 2017-04-05.
1 2 Oxford Business Group (2008). The Report: Saudi Arabia 2008. Oxford Business Group. p. 72. ISBN 978-1-902339-00-9. Retrieved 18 September 2013. {{cite book}}: |author= has generic name (help)
↑ "Update: Riyad Bank Website Gets Hacked". Arabcrunch.com. 13 June 2010. Archived from the original on December 12, 2016.
↑ Elliott Holley (9 July 2013). "Saudi Riyad Bank rebuilds treasury tech with Calypso". Bankingtech.com. Archived from the original on 17 September 2017. Retrieved 16 June 2023.
↑ Financial.net, CPI. "Contactless payment bracelets launched in Saudi Arabia". CPI Financial. Retrieved 2018-03-13.
↑ "Riyad Bank launches Saudi Arabia's first contactless payment bracelets". LeapRate. 2018-03-12. Retrieved 2018-03-13.
↑ Saudi’s Riyad Bank selects Goldman to advise on merger talks with NCB Gulf Business

Authority control databases
International	ISNI VIAF
National	United States

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References

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