Foreign banks licensed to practice their business in Saudi Arabia continued to expand their operations during the last period, opening 10 new branches in the year 2023.
He agreed Saudi Council of Ministers Under the chairmanship of the Custodian of the Two Holy Mosques, King Salman bin Abdu laziz Al Saud, on Tuesday, granted a license to the Swiss bank “UBS” to open a branch in Saudi Arabia to carry out its banking business.
Foreign banks licensed to practice their business in Saudi Arabia have continued to expand their operations during the past period, opening 10 new branches in the year 2023, after the number of operating branches was about 30 branches, to increase last year and reach 40 branches.
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The branches operating in Saudi Arabia were distributed at the end of last year as follows:
- Emirates NBD Bank with 15 branches.
- Kuwait National, Gulf International, and First Abu Dhabi, with 3 branches each.
- Qatar National Bank and the Industrial and Commercial Bank of China, with two branches for each licensed bank.
- BNP Barbia, Deutsche Bank, Muscat, National Bahri, JPMorgan Chase NE, Sohar International, National Bank of Iraq, Standard Chartered Bank, Credit Suisse, MUFG Limited, Zaraat Bankazi, and National Bank of Pakistan have one branch each. Of which.
