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Saudi National Bank (1180) – Introduction and background |
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Saudi National Bank is the largest commercial bank in Saudi Arabia.
Saudi National Bank (SNB) formed in 2021 through the merger of National Commercial Bank (NCB) and Samba Financial Group. Today, SNB plays an important role in the Saudi financial system. The bank offers a comprehensive range of financial services, and it has around a 25% market share in Saudi commercial banking, similar to its main rival Al-Rajhi Bank.
Saudi National Bank provides a wide array of banking and financial services, including retail banking, corporate banking, investment banking, and wealth management. The bank divides its client base into retail (individuals and small businesses), wholesale (corporates), international and capital market segments. The retail and wholesale divisions are responsible for the vast majority of overall revenue.
After a 2014 IPO, Saudi National Bank trades on Tadawul, under the ticker 1180. The bank’s main shareholder is the Public Investment Fund, alongside international investors such as UBS and State Street. Only around 25% of outstanding shares were floated in the IPO, preserving founder control of the company and making this a state-controlled enterprise.
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