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Arab National Bank

Major bank in Saudi Arabia

Summary

Major bank in Saudi Arabia

FieldValue
logoArab National Bank Logo.svg
native_nameالبنك العربي الوطني
typePublic ()
genre
foundation
defunct
locationRiyadh, Saudi Arabia
locations140 Branches (2018)
area_servedSaudi Arabia, United Kingdom
industryBanking
Financial services
net_incomeUSD 673 million (2013)
aum
assetsUSD 36.8 billion (2013)
equityUSD 5.1 billion (2013)
num_employees3,770 (2019)
homepage

Financial services The Arab National Bank (anb; ) is a major bank based in Riyadh, Saudi Arabia and listed on the Saudi Stock Exchange. 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. Its largest shareholder is Arab Bank, holding 40% of the fund.

History

anb established a branch in Jeddah in 1979. One of the founders is Prince Khalid, son of Prince Turki bin Abdulaziz. 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.

References

References

  1. "Arab National Bank (ANB), Saudi Arabia - Stock Price, Company Details, News and Contacts".
  2. "Login, GulfBase.com".
  3. "Annual report 2014, part (1)".
  4. "Appendix 7 . Leading Grandsons of Abdul Aziz". Springer.
  5. Tschoegl, Adrian E.. (2002). "Foreign banks in Saudi Arabia: a brief history". Transnational Corporations.
Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

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