Riyad Bank

Riyad Bank
Native name
بنك الرياض
Company typePublic (Tadawul: 1010)
ISINSA0007879048 Edit this on Wikidata
IndustryFinance
FoundedNovember 23, 1957; 67 years ago (November 23, 1957)
HeadquartersRiyadh, Saudi Arabia[1]
Key people
Abdullah Mohammed Al-Issa Chairman[2]
Nadir S Al-Koraya CEO[3]
ProductsFinancial services
Total assets265,788,878,000 Saudi riyal (2019) Edit this on Wikidata
Number of employees
5,973 [4]
Websitewww.riyadbank.com

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

History

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

References

  1. ^ "Riyad Bank Saudi Arabia". Commercial Banks of the World. BanksDaily. Retrieved 25 November 2013.
  2. ^ "Board of Directors".
  3. ^ Tareq A. Al-Sadhan is the new CEO of Riyad Bank
  4. ^ "Riyad Bank | Company Overview & News". Forbes. Archived from the original on 2023-04-11.
  5. ^ a b Four Charts That Show the Impact of Saudi Arabia's New Mega Bank Bloomberg
  6. ^ ArgaamPlus. "QNB, NCB top list of biggest GCC banks". ArgaamPlus. Retrieved 2017-04-05.
  7. ^ 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)
  8. ^ "Update: Riyad Bank Website Gets Hacked". Arabcrunch.com. 13 June 2010. Archived from the original on December 12, 2016.{{cite web}}: CS1 maint: unfit URL (link)
  9. ^ Elliott Holley (9 July 2013). "Saudi Riyad Bank rebuilds treasury tech with Calypso". Bankingtech.com.
  10. ^ Financial.net, CPI. "Contactless payment bracelets launched in Saudi Arabia". CPI Financial. Retrieved 2018-03-13.
  11. ^ "Riyad Bank launches Saudi Arabia's first contactless payment bracelets". LeapRate. 2018-03-12. Retrieved 2018-03-13.
  12. ^ Saudi’s Riyad Bank selects Goldman to advise on merger talks with NCB Gulf Business


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