20 Best Banks in Saudi Arabia for Your Financial Needs

Editor’s Note

Editor’s Note:

The Saudi banking sector has seen significant consolidation. This list has been updated as of November 2025 to reflect major mergers and the inclusion of new digital banks, all licensed by the Saudi Central Bank (SAMA).

When it comes to managing your financial affairs and securing your economic future, choosing the right bank is paramount. The Kingdom of Saudi Arabia boasts a thriving banking sector, home to a multitude of institutions that cater to a wide range of financial needs. Whether you are a resident seeking a trustworthy partner for your daily banking needs, an entrepreneur exploring investment opportunities, or an expatriate establishing your financial foothold in the Middle East, this article is your compass.

The banking sector of Saudi Arabia is a dynamic blend of traditional values and modern innovation, offering a comprehensive suite of services that encompass retail banking, credit cards, banking services, and much more. Governed by the monetary authority, Sama (Saudi Arabian Monetary Authority), these banks have consistently demonstrated their commitment to financial excellence.

From the colossal Saudi National Bank (SNB) to the largest Islamic bank, Al Rajhi Bank, and from the innovative Alinma Bank to the well-established Banque Saudi Fransi, we will explore the institutions that have earned their place at the forefront of the Kingdom’s banking sector. We will delve into the offerings, bank offers, and credit cards provided by these financial institutions, empowering you to make informed decisions that align with your financial aspirations.

20 Best Banks in Saudi Arabia

The banking sector in Saudi Arabia offers a diverse range of options to meet the financial needs of individuals and businesses. Among the top banks in the country, you will find a mix of local and international institutions, each with its unique strengths and services. Whether you seek conventional or Islamic banking solutions, these 20 best banks in Saudi Arabia provide comprehensive financial services, reflecting the vibrant and dynamic economy of the country.

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Best Banks in Saudi Arabia

1. Saudi National Bank (SNB) [National Commercial Bank (NCB)]

Formed from the historic 2021 merger of the National Commercial Bank (NCB) and Samba Financial Group, the Saudi National Bank (SNB) is the Kingdom’s largest bank and a national champion. This new entity combines the deep legacies of its predecessors (National Commercial Bank – NCB, founded in 1953, and Samba), which have played pivotal roles in Saudi Arabia’s economic growth. As a publicly traded bank with substantial government ownership, SNB is a cornerstone of the nation’s financial sector.

Services: SNB offers a comprehensive suite of financial services, including retail and corporate banking, investment banking, asset management, wealth management, and treasury services.
Network: SNB boasts an extensive network of branches and ATMs throughout Saudi Arabia and internationally, ensuring easy access for its customers.
Online Banking: SNB provides a robust online banking platform, enabling customers to manage their accounts, make transactions, and access various financial services from the comfort of their homes or offices.

2. Al Rajhi Bank

Established in 1957, Al Rajhi Bank is not only one of the oldest banks in Saudi Arabia but also one of the world’s largest Islamic banks. It takes pride in adhering to Sharia-compliant banking principles. Al Rajhi Bank is a publicly traded institution, with the Rajhi family being one of the major shareholders.

Services: The bank specializes in Sharia-compliant financial services, offering retail and corporate banking, investment services, real estate financing, and various other Islamic financial products.
Network: Al Rajhi Bank has an extensive branch and ATM network not only in Saudi Arabia but also internationally, providing convenience to its diverse customer base.
Online Banking: Al Rajhi Bank offers online banking services designed to align with Islamic finance principles, allowing customers to manage their accounts and conduct transactions conveniently and securely.

3. Riyad Bank

Founded in 1957, Riyad Bank is known for its innovative approach and commitment to customer satisfaction. Over the decades, the bank has contributed significantly to Saudi Arabia’s banking sector and Industry. Riyad Bank is publicly traded, with diverse shareholders, and is committed to transparent and ethical banking practices.

Services: The bank offers a wide range of financial services, including retail banking, corporate banking, investment banking, asset management, and wealth management, catering to both individual and corporate clients.
Network: Riyad Bank maintains an extensive network of branches and ATMs throughout Saudi Arabia, ensuring that customers can easily access its services.
Online Banking: Riyad Bank provides a user-friendly online banking platform, enabling customers to manage their accounts and conduct transactions securely from anywhere, emphasizing convenience and security.

4. Saudi Awwal Bank (SAB) [Formerly known as Saudi British Bank (SABB)]

Formerly known as the Saudi British Bank (SABB), the bank officially rebranded to Saudi Awwal Bank (SAB) in 2023 following its 2019 merger with Alawwal Bank. It maintains a strategic partnership with HSBC.

SABB has a rich history of operating in partnership with HSBC, combining both local and international banking expertise. The bank has been a reliable financial institution in Saudi Arabia. It is jointly owned by HSBC and Saudi British Bank Group, with HSBC being the majority shareholder, which adds a global perspective to its operations.

Services: The bank offers a wide array of financial services, including retail banking, corporate banking, investment banking, trade finance, and advisory services to meet various financial needs.
Network: SABB has a substantial network of branches and ATMs across Saudi Arabia, making it easily accessible to customers across the kingdom.
Online Banking: SABB’s online banking services provide customers with a convenient and secure way to manage their accounts and perform transactions, aligning with modern digital banking practices.

5. Arab National Bank (ANB)

Founded in 1979, ANB has quickly established itself as a reputable financial institution. Its relatively short history is marked by growth and innovation in the banking sector. ANB is publicly traded, with a diverse range of shareholders, reflecting its commitment to transparency and good governance.

Services: ANB offers a broad spectrum of financial services, including retail banking, corporate banking, loans, savings accounts, investment services, and wealth management, making it a versatile bank for various financial requirements.
Network: ANB has a network of branches and ATMs across Saudi Arabia, ensuring accessibility for its customers and facilitating convenient banking transactions.
Online Banking: ANB provides online banking services for the convenience of its customers, allowing them to manage their accounts and conduct transactions online, staying aligned with modern banking practices.

6. Banque Saudi Fransi (BSF)

Established in 1977, Banque Saudi Fransi is a joint venture between Saudi and French shareholders, adding an international dimension to its history. Its major shareholders include the Saudi government and Crédit Agricole Group, one of France’s largest banking institutions, emphasizing a diverse ownership structure.

Services: BSF offers a wide range of financial services, including retail and corporate banking, investment banking, asset management, and treasury services, combining the strengths of both parent entities.
Network: Banque Saudi Fransi has a substantial presence with branches and ATMs across Saudi Arabia, catering to the needs of a diverse customer base.
Online Banking: The bank provides online banking services, allowing convenient account management and secure online transactions, making it easy for customers to engage with their finances digitally.

7. Saudi Investment Bank (SAIB)

SAIB is a well-established bank in Saudi Arabia, with a history marked by its commitment to providing diverse financial services. SAIB is publicly traded, with a variety of shareholders, reflecting its commitment to openness and responsible banking practices.

Services: The bank offers retail and corporate banking services, investment services, trade finance, and wealth management, making it a comprehensive bank for various financial needs.
Network: SAIB has a presence through branches and ATMs in Saudi Arabia, providing accessibility to its services for customers across the kingdom.
Online Banking: SAIB offers online banking services, allowing customers to conveniently manage their accounts and perform secure online transactions, in line with modern digital banking practices.

8. Alinma Bank

Alinma Bank was established in 2009, marking a relatively new entrant in the Saudi banking sector. Its short history is characterized by growth and innovation. Alinma Bank is publicly traded and committed to transparency and responsible banking practices.

Services: The bank provides a wide range of retail and corporate banking services, including investment and financing solutions, catering to the evolving financial needs of its customers.
Network: Alinma Bank has rapidly expanded its network of branches and ATMs, ensuring accessibility to a growing customer base.
Online Banking: The bank offers online banking services for customer convenience, facilitating secure online account management and transactions, in alignment with contemporary digital banking trends.

9. Bank AlJazira

Founded in 1975, Bank AlJazira has grown to become a significant player in the Saudi banking sector, with a history marked by a commitment to customer satisfaction and innovation. Bank AlJazira is publicly traded, emphasizing transparency and good governance in its operations.

Services: The bank offers a comprehensive range of financial services, including retail, corporate, and investment banking, as well as credit cards and financing solutions.
Network: Bank AlJazira maintains an extensive network of branches and ATMs throughout Saudi Arabia, ensuring accessibility to its services.
Online Banking: The bank provides online banking services for customer convenience, enabling secure online account management and transactions, making banking operations efficient and accessible.

10. Bank Albilad

Established in 2004, Bank Albilad is a relatively newer bank in the Saudi banking landscape. Its history is characterized by its growth and commitment to providing innovative financial services. Bank Albilad is publicly traded and committed to transparency and accountability in its operations.

Services: The bank offers retail and corporate banking services, including loans, savings accounts, and investment solutions, providing comprehensive financial solutions.
Network: Bank Albilad has expanded its network of branches and ATMs, ensuring that its customers have access to its services.
Online Banking: The bank provides online banking services, allowing secure online account management and transactions, keeping pace with modern digital banking expectations.

11. HSBC Saudi Arabia

HSBC Saudi Arabia primarily operates as a leading investment and corporate banking entity. For retail banking, its global partner HSBC Holdings owns a 31% stake in Saudi Awwal Bank (SAB), which handles the primary retail and commercial banking network.

HSBC Saudi Arabia is the investment banking arm of the global HSBC Group in the Kingdom, operating as a leading corporate and investment banking entity. It is distinct from the primary retail banking network. For retail and commercial banking, HSBC’s global partner, HSBC Holdings, owns a 31% stake in Saudi Awwal Bank (SAB).

Services: The bank offers a wide range of specialized banking and financial services, focusing on corporate and investment banking, trade finance, and advisory services, catering to the diverse needs of its clientele.
Network: HSBC Saudi Arabia has office locations in Saudi Arabia, allowing accessibility to its services for corporate and private banking (high-net-worth) clients.
Online Banking: The bank provides specialized corporate online banking services (such as HSBCnet) for customer convenience, facilitating secure account management and transactions.

12. Citibank Saudi Arabia

Citibank has a strong global presence, and in Saudi Arabia, it provides a variety of financial services, reflecting its commitment to offering international banking solutions in the kingdom. Citibank Saudi Arabia is a subsidiary of Citigroup Inc., a global banking and financial services corporation, which brings global banking experience to its operations in the country.

Services: The bank offers a wide range of banking services, including corporate and investment banking, emphasizing its ability to cater to the financial needs of international and local clients.
Network: Citibank Saudi Arabia has branch and office locations in Saudi Arabia, offering accessibility to its services for a diverse customer base.
Online Banking: The bank provides online banking services, allowing customers to conveniently manage their accounts and conduct secure online transactions, making it a convenient banking option for modern clients.

13. Gulf International Bank (GIB)

GIB is a prominent bank operating in multiple countries, including Saudi Arabia. Its history is marked by its regional presence in the Gulf Cooperation Council (GCC) countries, reflecting a commitment to regional economic development. GIB is owned by the governments of the six GCC countries, emphasizing a collective regional approach in its ownership structure.

Services: The bank offers a range of financial services, including corporate and investment banking, highlighting its role in supporting regional economic growth.
Network: GIB has branch and office locations in Saudi Arabia and other GCC countries, ensuring accessibility to its services for customers across the region.
Online Banking: The bank provides online banking services for customer convenience, enabling secure online account management and transactions, catering to the modern banking preferences of its clients.

14. Emirates NBD Bank

Emirates NBD – KSA was established in 2004. It is the first UAE-based bank in Saudi Arabia. It offers a comprehensive range of retail, SME, corporate, and treasury services, including investment banking through Emirates NBD Capital KSA.

Services: The bank provides extensive financing and deposit products, along with treasury-specific services. It caters to various business segments and emphasizes a strong value proposition across its banking segments.
Network: Presently, Emirates NBD – KSA operates through eight branches in key cities like Riyadh, Jeddah, Khobar, Makkah, and Madinah. It’s undergoing a structured expansion plan. Its aim is to reach 24 branches in the coming years.
Online Banking: Customers can benefit from digital banking platforms like Emirates NBD Online and Mobile Banking, as well as smartBUSINESS, enabling easy access to the bank’s services through traditional and innovative technological channels. Recently, the bank launched Liv, a lifestyle digital bank tailored for millennials in KSA.

15. Standard Chartered Bank

Standard Chartered Bank’s branch in Saudi Arabia was established in June 2021 with approval from the Saudi Central Bank. It is a pivotal element of the group’s strategic presence in the Middle East. It seamlessly integrates global expertise with profound local insights, bolstering its significance in the region.

Services: It specializes in catering to renowned global corporates and financial institutions, leveraging Standard Chartered’s extensive product capabilities. It actively engages in milestone transactions, thereby fostering the Kingdom’s market development.
Network: It facilitates seamless financial solutions with its robust network that is tailored to diverse client needs, bolstering economic growth and stability within Saudi Arabia.
Online Banking: Standard Chartered Bank in Saudi Arabia offers cutting-edge online banking services, ensuring convenient access to financial tools and resources for clients, thereby enhancing efficiency and accessibility in the digital era.

16. Bank Muscat

Bank Muscat inaugurated its commercial banking branch in Riyadh, Saudi Arabia in April 2017. It marked a significant milestone as the first Omani bank to establish a full-fledged presence in the kingdom. The branch embodies a blend of Saudi and Omani hospitality, offering a welcoming environment for customers.

Services: Bank Muscat Riyadh Branch caters to diverse corporate banking needs, providing a comprehensive array of services including corporate banking, trade finance, and treasury products. It aims to meet the financial requirements of businesses with tailored solutions and prompt assistance, ensuring client satisfaction.
Network: With its strategic presence in Riyadh, Bank Muscat extends its network beyond Oman, facilitating seamless financial transactions and fostering economic ties between the two nations. The branch serves as a vital link in strengthening bilateral relations and promoting economic cooperation.
Online Banking: Bank Muscat Riyadh Branch offers robust online banking services, empowering customers with convenient access to their accounts and financial transactions. Through secure digital platforms, clients can manage their finances efficiently, enjoying the benefits of modern banking technology.

17. Deutsche Bank

Deutsche Bank is a German multinational investment bank and financial services firm. It operates globally with a branch in Saudi Arabia. Recognized as a global systemically important bank since 2011, it falls under direct supervision by the European Central Bank.

Services: The bank offers a range of services including customer logins, online banking, mobile services, and investment banking. It also caters to retail and corporate banking needs. Additionally, it operates under the DWS brand, providing investment management solutions.
Network: With a vast network spanning worldwide, Deutsche Bank serves clients across various regions, ensuring accessibility and convenience. Its extensive reach facilitates efficient financial solutions for individuals and businesses alike.

Online Banking: Deutsche Bank prioritizes customer convenience with its robust online banking platform, enabling clients to manage accounts, conduct transactions, and access financial services securely and conveniently from any location.

Top Digital Banks in Saudi Arabia

The newest additions to the Kingdom’s financial sector, these SAMA-licensed digital banks operate 100% via mobile app, with no physical branches. They are built to provide a seamless, modern, and fast user experience.

18. STC Bank

As Saudi Arabia’s first fully licensed digital bank, STC Bank evolved from the popular e-wallet STC Pay to become a leader in the fintech space. It is built for a mobile-first generation, with a focus on seamless daily transactions.

Services: The bank offers a complete, app-based personal account that can be opened in minutes. Key features include local and international transfers, bill payments, and Sharia-compliant financial products. It has launched innovative services like the “Smart Saver” account (which automates savings via round-ups or recurring transfers) and “Smart Finance” (providing instant, all-digital micro-financing).

Network: Entirely digital, with no physical branches. Its strength lies in its deep integration with the STC telecom ecosystem and its massive existing STC Pay user base.

Online Banking: The STC Bank app is the core of its experience, providing advanced money management tools, real-time tracking, and access to all its financial services 24/7.

19. D360 Bank

Licensed by SAMA in 2021 and backed by the Public Investment Fund (PIF), D360 Bank (also known as Saudi Digital Bank) is a Sharia-compliant digital bank that has seen remarkable growth since its official launch. It targets individuals, entrepreneurs, and SMEs.

Services: D360 is focused on a seamless and fast user experience, claiming a 100% digital account opening in under two minutes. It offers a range of Sharia-compliant savings products (some with daily profit calculation), fee-free international payments, and digital financing solutions.

Network: As a fully digital bank, D360 has no physical branches. It operates nationwide through its advanced mobile application.

Online Banking: The D360 app is designed for ease of use, providing customers with full control over their accounts, instant transaction notifications, and access to both individual and business banking services.

20. Vision Bank

Vision Bank is the newest digital bank to receive its final “No Objection” from SAMA to launch operations (September 2025). It is poised to make a significant impact by focusing on innovative, data-driven financial solutions.

Services: Vision Bank aims to provide modern, app-based banking services that seamlessly integrate with users’ daily lives. While its full product suite is still rolling out, its focus is on leveraging technology to offer personalized finance tools, easy-to-use payment solutions, and accessible wealth management services.

Network: App-only, with no physical branch network. Its services are accessible to anyone in the Kingdom with a smartphone.

Online Banking: The bank’s platform is built on cutting-edge technology, designed to be secure, intuitive, and highly responsive, catering to a tech-savvy generation aligned with Saudi Vision 2030.

At a Glance: Digital Banks vs. Traditional Banks in KSA

Banks Comparison

Feature	Traditional Banks	Digital Banks
Physical Presence	Yes, extensive network of branches and ATMs.	No physical branches; services are 100% online.
Primary Access	In-person, online banking, and mobile apps.	Mobile-app first (app-centric).
Account Opening	Often requires an in-person visit or complex online steps.	Fully remote and fast, usually completed on your phone in minutes.
Service Model	Full-service (retail, corporate, wealth management, etc.).	Focused on core retail/SME banking (accounts, payments, simple finance).
Target Audience	Broad, all demographics, and established corporations.	Tech-savvy individuals, millennials, Gen Z, and modern SMEs.
KSA Examples	Saudi National Bank (SNB), Al Rajhi Bank, Saudi Awwal Bank (SAB).	STC Bank, D360 Bank, Vision Bank.

A Note on Banking Consolidation: Merged Entities

Samba Financial Group – Merged into SNB

Samba Financial Group, formerly known as The Saudi American Bank, was a major multinational banking firm in Saudi Arabia. At its peak, it operated an extensive network, including 66 branches within the Kingdom. On April 1, 2021, Samba completed its historic merger with the National Commercial Bank (NCB) to form the Saudi National Bank (SNB), which is now the Kingdom’s largest bank.

Alawwal Bank (formerly known as Saudi Hollandi Bank) – Merged into SAB

Alawwal Bank, formerly known as Saudi Hollandi Bank, held a unique place in the Kingdom’s history, with roots tracing back to 1926. It was renowned as the first bank to operate in what would later become Saudi Arabia. Following an evolution in its ownership, Alawwal Bank completed its merger with the Saudi British Bank (SABB) in 2019. This combined entity has since rebranded and now operates as the Saudi Awwal Bank (SAB).

Conclusion

Whether you are a Saudi national or an expatriate, a business owner or an individual looking for retail banking solutions, the variety of banking services in Saudi Arabia is designed to meet your unique financial needs. The top banks, with their impressive total assets and extensive offerings, represent pillars of trust and reliability in the ever-evolving landscape of banking. These banks not only shape the local banking sector but also extend their influence across the Middle East.

The Saudi Arabian Monetary Authority (Sama) stands as the guardian of this financial realm, ensuring a secure and regulated environment for both banks and customers. Its role in maintaining the stability and integrity of the banking sector is instrumental in fostering trust and confidence among investors, entrepreneurs, and individuals.

Ultimately, the Best Bank in Saudi Arabia is the one that aligns with your individual financial goals and aspirations. By considering factors such as your specific needs, banking services, and preferences, you can make an informed choice that empowers you to achieve financial success and peace of mind. The path to financial excellence in Saudi Arabia is diverse, promising, and open to your aspirations. So, go ahead and embrace the bank that aligns perfectly with your financial needs, and let your financial journey flourish in this vibrant Kingdom of opportunity.

Frequently Asked Questions (FAQ)

Quick answers to common questions about the banking sector in Saudi Arabia.

1. What is the “best” bank in Saudi Arabia for me?

The “best” bank depends on your specific needs. Here’s a quick guide:
– For the largest network: Saudi National Bank (SNB) and Al Rajhi Bank have the most extensive branch and ATM networks in the Kingdom.
– For digital banking: STC Bank or D360 Bank are ideal for a 100% mobile-first experience with no branches.
– For expats: Saudi Awwal Bank (SAB), Alinma Bank, and Riyad Bank are often popular for their straightforward online account opening for residents (with a valid Iqama).

2. How do I open a bank account in Saudi Arabia as an expatriate?

Opening an account as an expat (resident) is now a straightforward online process. You will typically need:
– A valid Iqama (residency permit)
– A registered National Address
– A Saudi mobile number
– A valid Absher platform account for verification

Most banks on this list, like Al Rajhi, SNB, and SAB, allow you to complete the entire process online via their app or website

3. What is the difference between an Islamic bank and a conventional bank?

The primary difference is their handling of interest (Riba), which is prohibited in Islam.
– Islamic Banks (like Al Rajhi, Alinma, Al Bilad) operate on Sharia-compliant principles. Instead of charging interest on loans, they use profit-and-loss sharing models (Murabaha, Mudarabah).
– Conventional Banks (like SNB, BSF, SAB) operate on the global model of paying and receiving interest on deposits and loans.

Many conventional banks also offer “Islamic windows” or separate Sharia-compliant products.

4. What is SAMA and what does it do?

SAMA stands for the Saudi Central Bank. It is the primary regulator for all financial institutions in the Kingdom. Its job is to manage monetary policy, maintain the stability of the financial sector, protect customers, and issue licenses to all banks, including the new digital banks.