| Riyad Bank | |
| Native Name: | بنك الرياض |
| Native Name Lang: | ar |
| Type: | Public |
| Industry: | Finance |
| Location: | Riyadh, Saudi Arabia[1] |
| Key People: | Abdullah Mohammed Al-Issa Chairman[2] Nadir S Al-Koraya CEO[3] |
| Products: | Financial services |
| Num Employees: | 5,973 [4] |
| Homepage: | www.riyadbank.com |
Riyad Bank (ar|بنك الرياض) is one of the largest financial institutions in Saudi Arabia, ranked fourth in assets.[5] [6]
It was established in 1957.[7] The Saudi government owns 51% of the shares of the firm.
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]