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Riyad Bank

Banking & Finance

Riyad Bank Overview

Riyad Bank, established in 1957, is one of the largest financial institutions in Saudi Arabia, ranked fourth in assets.

The Saudi government owns 51% of its shares and, like other Saudi commercial banks, it is supervised by the Saudi Central Bank.

It has more than 300 branches in the kingdom, and a presence in London, Singapore and the US.

Riyad Bank provides sharia-compliant services to both individual and corporate customers, and arranges financing for oil and petrochemical projects as well as for Saudi Arabia’s infrastructure projects.

Its fully owned subsidiary Riyad Capital provides guidance on the process of initial public offerings.

Riyad Bank runs various projects to support Saudi Arabia’s Vision 2030 goals.

“We Finance, You Manufacture” for example is a joint effort initiative with the National Industrial Development and Logistics Program to encourage local manufacturing and support Saudi Arabia’s non-oil economy.

The Tourism Partners Program, meanwhile, supports private projects to boost Saudi Arabia’s tourism goals.

Riyad Bank News

Growth in non-oil GDP drove the Saudi economy in Q3, led by retail

Non-oil economy drives growth as Saudi GDP rises 2.8%

Saudi Arabia has reported a 2.8 percent increase in real GDP for the third quarter of 2024, with non-oil activities driving the year-on-year growth. Seasonally adjusted real GDP was up 0.9 percent on the second quarter, according to Riyadh’s General Authority for Statistics. Non-oil GDP was 4.3 percent higher year on year and 0.7 percent […]

PMI november Saudi man in textile factory

Non-oil activity in Saudi Arabia at 16-month high

Activity in Saudi Arabia’s non-oil economy has hit a 16-month high, as the country’s diversification efforts continue to show results. The S&P Saudi Arabia Purchasing Managers’ Index – a composite measure of non-oil private sector performance – rose from 56.9 in October to 59 in November, the fourth successive month in which the headline index […]

Roshn was established to deliver 400,000 homes under the Vision 2030 goal of reaching 70 percent homeownership; ownership was at 64 percent in 2023

Banks vying to fund Roshn’s Saudi expansion

Interest in PIF-backed Roshn Turning away lenders Plan is backed by consortium Saudi real estate developer Roshn, a subsidiary of the Public Investment Fund (PIF), is reporting strong interest from banks eager to finance its projects, ... Register now: It’s easy and free This content is available for registered members only. Register for your free […]

A metal worker at a factory in Dammam. Saudi Arabia logged increases in sales and employment in October, says S&P Global

Saudi Arabia’s non-oil private sector hits 6-month high

Business conditions in Saudi Arabia’s non-oil private sector improved at the fastest rate for six months in October, according to S&P Global. Saudi Arabia logged a 56.9 rating in S&P’s Global purchasing managers’ index (PMI), a monthly indicator of operating conditions in the non-oil economy.  October beat September’s figure of 56.3 and is well above […]

Riyadh Air credit

Startup airline Riyadh Air secures $1.3bn credit facility

Riyadh Air, the Saudi airline that is due to start operations next year, signed a SAR5 billion ($1.3 billion) credit facility with a syndicate of banks on Wednesday, as it announced an order for 60 more aircraft. The kingdom’s second flag carrier, owned by the PIF sovereign wealth fund, has closed an inaugural Islamic revolving […]

A rendering of the 47,000-seat stadium by Roshn and Aramco in Khobar. Roshn's credit facility has been provided by six Tadawul-listed lenders

PIF-backed Roshn raises $2.4bn for expansion

Saudi Arabian giga-project developer Roshn has secured a new SAR9 billion ($2.4 billion) credit facility from a consortium of locally-listed banks. The loan will support the developer’s expansion and growth plans over the next five years, state-run Saudi Press Agency reported. “We intend to use these funds to further advance our ambitious strategy in the […]

The Saudi solar projects in Haden, Muwayh and Al Khushaybi are expected to begin commercial operations in the first quarter of 2027

Saudi Arabia secures funds for 5.5GW solar projects

The developers of solar power projects worth SAR12 billion ($3.2 billion) with a combined output of 5.5 gigawatts (GW) in Saudi Arabia have secured financing for their projects. Saudi-listed Acwa Power, Water and Electricity Holding Co (Badeel), a Public Investment Fund (PIF)-owned company, and Saudi Aramco Power Co (Sapco), a wholly-owned subsidiary of energy major […]

The UAE's Khalifa Port. The UAE is Saudi Arabia's leading trade partner, with exports totalling SAR 15.1 billion

Saudi Arabia’s non-oil exports to GCC jump 31%

Saudi Arabia’s non-oil commodity exports with Gulf Cooperation Council (GCC) countries rose 31 percent year on year to SAR24.4 billion ($6.5 billion) during the second quarter of 2024, according to official data. The UAE was the leading trade partner, with exports totalling SAR15.1 billion, making up 62 percent of the kingdom’s non-oil trade with the […]

PIF dividends

PIF-backed Saudi companies increase dividends 

This week Saudi Arabia’s former telecom monopoly announced increased dividends. It became the latest company part-owned by the kingdom’s sovereign wealth fund and listed on Riyadh’s bourse to do so. The higher payouts provide a boost to the income of the Public Investment Fund, which it can then reinvest in higher-growth industries and accelerate Saudi’s […]