Arab National Bank

The anb is a major bank based in Riyadh, Saudi Arabia and listed on the Saudi Stock Exchange.[2] It is among the top ten largest banks in the Middle East and has received an 'A' rank from Standard and Poor's. It has 156 branches in Saudi Arabia.[3] Its largest shareholder is Arab Bank, holding 40% of the fund.[2]

Arab National Bank
TypePublic (Tadawul: 1080)
ISINSA0007879105 Edit this on Wikidata
IndustryBanking
Financial services
Founded1979 (1979)
HeadquartersRiyadh, Saudi Arabia
Number of locations
140 Branches (2018)
Area served
Saudi Arabia, United Kingdom
USD 673 million (2013)
Total assetsUSD 36.8 billion (2013)
Total equityUSD 5.1 billion (2013)
Number of employees
3,770 (2019)[1]

History

anb established a branch in Jeddah in 1949. One of the founders is Prince Khalid, son of Prince Turki bin Abdulaziz.[4] Early on, both the Governments of Saudi Arabia and Kuwait took on small stakes in anb of about 10 per cent each. Despite this and despite being pan-Arab in its orientation, anb was unable to escape the policy limiting foreign ownership. In 1980, it transferred its six branches to the newly created anb. Arab National had a service agreement with anb that expired in 1988 and was not renewed. Arab Bank owns 40 per cent of the bank and some 5000 Saudi shareholders own 60 per cent. In 2002, the Governments of Saudi Arabia and Kuwait own about eight per cent of anb between them. anb has opened a branch in London. Its largest shareholder (40%) is Arab Bank and headquartered in Amman, Jordan.[5]

See also

References
  1. "Arab National Bank (ANB), Saudi Arabia - Stock Price, Company Details, News and Contacts". www.zawya.com.
  2. "Login, GulfBase.com". www.gulfbase.com.
  3. "Annual report 2014, part (1)". p. 6. Archived from the original on 2014-10-03. Retrieved 2015-06-01.
  4. "Appendix 7 . Leading Grandsons of Abdul Aziz" (PDF). Springer. Retrieved 13 August 2020.
  5. Tschoegl, Adrian E. (2002). "Foreign banks in Saudi Arabia: a brief history" (PDF). Transnational Corporations. 2 (11): 123–154. Retrieved 22 April 2012.
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