Arab National Bank
 ANB | |
| Private (Tadawul: 1080) | |
| Industry |
Banking Financial services |
| Headquarters | Riyadh, Saudi Arabia |
Number of locations | 183 Branches (2012) |
Area served | Saudi Arabia, United Kingdom |
| Profit | USD 673 million (2013) |
| Total assets | USD 36.8 billion (2013) |
| Total equity | USD 5.1 billion (2013) |
Number of employees | 3,500 (2011) |
The Arab National Bank (ANB) is a major bank based in Riyadh, Saudi Arabia and listed on the Saudi Stock Exchange.[1] It is among the top ten largest banks in the Middle East and has received an 'A' rank from Standard and Poor's. It has 156 branches in Saudi Arabia.[2] Its largest shareholder is Arab Bank, holding 40% of the fund.[3]
History
Arab National Bank (ANB) established a branch in Jeddah in 1949. Early on, both the Governments of Saudi Arabia and Kuwait took on small stakes in Arab Bank of about 10 per cent each. Despite this and despite being pan-Arab in its orientation, Arab Bank was unable to escape the policy limiting foreign ownership. In 1980, it transferred its six branches to the newly created Arab National Bank. Arab National had a service agreement with Arab Bank that expired in 1988 and was not renewed. Arab Bank owns 40 per cent of the bank and some 5000 Saudi shareholders own 60 per cent. In 2002, the Governments of Saudi Arabia and Kuwait own about eight per cent of Arab Bank between them. ANB has opened a branch in London. [4]
See also
References
- ↑ http://www.gulfbase.com/company/sampleprofile?cid=46&pageid=39
- ↑ Annual report 2014, part (1) page 6 https://www.anb.com.sa/annual.asp
- ↑ http://www.gulfbase.com/company/sampleprofile?cid=46&pageid=39
- ↑ Tschoegl, Adrian E. (2002). "Foreign banks in Saudi Arabia: a brief history" (PDF). Transnational Corporations 2 (11): 123–154. Retrieved April 22, 2012.