Riyad_Bank

Riyad Bank

Riyad Bank

Financial institution in the Kingdom of Saudi Arabia

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

Quick Facts Native name, Company type ...

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


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