Riyad Bank

{{Short description|Financial institution in the Kingdom of Saudi Arabia}} {{Infobox company | name = Riyad Bank | logo = Riyad Bank Logo.svg | image = | image_caption = | native_name = بنك الرياض | native_name_lang = ar | type = Public ({{Saudi Stock Exchange|1010}}) | industry = Finance | founded = {{start date and age|November 23, 1957}} | location = Riyadh, Saudi Arabia<ref>{{cite web|title=Riyad Bank Saudi Arabia|url=http://www.banksdaily.com/info/riyadbank|work=Commercial Banks of the World|publisher=BanksDaily|accessdate=25 November 2013}}</ref> | key_people = Abdullah Mohammed Al-Issa Chairman<ref>{{Cite web|url=http://www.riyadbank.com/English/AboutUs/BoardOfDirectors.html|title=Board of Directors|access-date=2013-09-19|archive-date=2013-06-29|archive-url=https://web.archive.org/web/20130629033050/http://www.riyadbank.com/English/AboutUs/BoardOfDirectors.html|url-status=dead}}</ref> <br /> Nadir S Al-Koraya CEO<ref>{{Cite web |url=https://www.riyadbank.com/en/information/media-centre/press-releases/2019/20-02-2019 |title=Tareq A. Al-Sadhan is the new CEO of Riyad Bank |access-date=2019-09-22 |archive-date=2019-09-22 |archive-url=https://web.archive.org/web/20190922202053/https://www.riyadbank.com/en/information/media-centre/press-releases/2019/20-02-2019 |url-status=dead }}</ref> | products = Financial services | num_employees = 5,973 <ref>{{cite web |title=Riyad Bank {{!}} Company Overview & News |website=Forbes |archive-url=https://web.archive.org/web/20230411152647/https://www.forbes.com/companies/riyad-bank/ |archive-date=2023-04-11 |url-status=live |url=https://www.forbes.com/companies/riyad-bank/#6f3b9688513e}}</ref> | slogan = | website = [http://www.riyadbank.com www.riyadbank.com] | Profits = }} '''Riyad Bank''' ({{langx|ar|بنك الرياض}}) is one of the largest financial institutions in Saudi Arabia, ranked fourth in assets.<ref name="bloomberg.com">[https://www.bloomberg.com/news/articles/2018-12-25/four-charts-that-show-the-impact-of-saudi-arabia-s-new-mega-bank Four Charts That Show the Impact of Saudi Arabia's New Mega Bank] ''Bloomberg''</ref><ref>{{Cite web|url=http://www.argaam.com/en/article/articledetail/id/413419|title=QNB, NCB top list of biggest GCC banks|last=ArgaamPlus|website=ArgaamPlus|language=en-US|access-date=2017-04-05}}</ref>

== History == It was established in 1957.<ref name="Oxford">{{cite book|author=Oxford Business Group|title=The Report: Saudi Arabia 2008|year=2008|url=https://books.google.com/books?id=gMPjxHzG1xQC&pg=PA72|accessdate=18 September 2013|publisher=Oxford Business Group|isbn=978-1-902339-00-9|page=72}}</ref> The Saudi government owns 51% of the shares of the firm.<ref name="Oxford" />

Like other Saudi commercial banks, Riyad Bank is supervised by the Saudi Central Bank.<ref>{{cite web|date=13 June 2010|language=en|title=Update: Riyad Bank Website Gets Hacked|url=https://arabcrunch.com/update-riyad-bank-website-gets-hacked-b713b4c336ed#.zfpsh83u3|archive-url=https://archive.today/20161212024916/https://arabcrunch.com/update-riyad-bank-website-gets-hacked-b713b4c336ed%23.zfpsh83u3|url-status=usurped|archive-date=December 12, 2016|website=Arabcrunch.com}}</ref>

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.<ref>{{cite web|author=Elliott Holley|date=9 July 2013|language=en|title=Saudi Riyad Bank rebuilds treasury tech with Calypso|url=http://www.bankingtech.com/151912/saudi-riyad-bank-rebuilds-treasury-tech-via-calypso/|website=Bankingtech.com|access-date=16 June 2023|archive-date=17 September 2017|archive-url=https://web.archive.org/web/20170917235016/http://www.bankingtech.com/151912/saudi-riyad-bank-rebuilds-treasury-tech-via-calypso/|url-status=dead}}</ref>

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.<ref>{{Cite news|url=http://cpifinancial.net/news/post/44452/contactless-payment-bracelets-launched-in-saudi-arabia|title=Contactless payment bracelets launched in Saudi Arabia|last=Financial.net|first=CPI|work=CPI Financial|access-date=2018-03-13|language=en}}</ref><ref>{{Cite news|url=https://www.leaprate.com/payments/riyad-bank-launches-saudi-arabias-first-contactless-payment-bracelets/|title=Riyad Bank launches Saudi Arabia's first contactless payment bracelets|date=2018-03-12|work=LeapRate|access-date=2018-03-13|language=en-US}}</ref>

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.<ref name="bloomberg.com"/><ref>[https://gulfbusiness.com/saudis-riyad-bank-selects-goldman-advise-merger-talks-ncb/ Saudi’s Riyad Bank selects Goldman to advise on merger talks with NCB] ''Gulf Business''</ref>

Riyad Bank was ranked ninth on Forbes Middle East's 30 Most Valuable Banks 2025 list.<ref>{{Cite web |last=Mughal |first=Waqar |title=Riyad Bank |url=https://www.forbesmiddleeast.com/lists/30-most-valuable-banks-2025/riyad-bank/ |access-date=2026-05-03 |website=Forbes Lists |language=en-US}}</ref> It was also ranked 16th on Forbes Middle East's Top 100 Listed Companies 2025 list.<ref>{{Cite web |last=Mughal |first=Waqar |title=Riyad Bank |url=https://www.forbesmiddleeast.com/lists/top-100-listed-companies-2025/riyad-bank/ |access-date=2026-05-04 |website=Forbes Lists |language=en-US}}</ref>

== See also == {{Portal|Saudi Arabia|Banks}}

* List of banks in Saudi Arabia

== References == {{Reflist}}

{{DEFAULTSORT:Riaydh Bank}} Category:1957 establishments in Saudi Arabia Category:Banks established in 1957 Category:Companies listed on Tadawul Category:Companies in the MSCI Tadawul 30 Index Category:Companies based in Riyadh Category:Islamic banks of Saudi Arabia Category:Banks of Saudi Arabia