Riyad Bank
 | |
 Riyad Bank Tower in the King Abdullah Financial District of Riyadh, Saudi Arabia | |
Native name | بنك الرياض |
|---|---|
| Company type | Public (Tadawul: 1010) |
| ISIN | SA0007879048  |
| Industry | Finance |
| Founded | 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]
History
[edit]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]
See also
[edit]
References
[edit]- ^ "Riyad Bank Saudi Arabia". Commercial Banks of the World. BanksDaily. Retrieved 25 November 2013.
- ^ "Board of Directors".
- ^ Tareq A. Al-Sadhan is the new CEO of Riyad Bank
- ^ "Riyad Bank | Company Overview & News". Forbes. Archived from the original on 2023-04-11.
- ^ a b 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.
- ^ a b 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.
- ^ Elliott Holley (9 July 2013). "Saudi Riyad Bank rebuilds treasury tech with Calypso". Bankingtech.com.
- ^ 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
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