Sector: Banks & Financial Services
Market Value: $24.1 billion
Riyad Bank has 338 branches in Saudi Arabia, one in the U.K., an agency in the U.S., and a representative office in Singapore. The bank employs over 5,593 people. Its profits grew by 16.5% in 2022 to $1.9 billion, while its total assets hit $95.9 billion, an increase of 10.4% compared to 2021. In October 2022, it completed the issuance of a SAR-denominated additional tier 1 capital sukuk worth $1 billion. Saudi’s Public Investment Fund is the bank’s largest shareholder, with a 21.8% stake.