Riyad Bank 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.[7]
As other Saudi commercial banks, Riyad Bank is supervised by the Saudi Arabian Monetary Authority.
In March 2018, Riyad Bank launched contactless payment wristbands, using the Gemalto digital security solution.[8][9]
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.
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