Saudi National Bank

Saudi National Bank, commonly known as SNB and also marketed as SNB AlAhli, is a Saudi banking group headquartered in Riyadh. It is the largest commercial bank in Saudi Arabia and one of the largest financial institutions in the Gulf region. The institution traces its origins to December 1953, when it was established as National Commercial Bank, or NCB. It operated under that name for most of its history before combining with Samba Financial Group in 2021 and adopting the Saudi National Bank identity. The bank provides a broad range of financial services for individuals, businesses, institutions and government-linked projects. Its activities include retail and private banking, corporate and institutional banking, investment banking, treasury, trade finance, payments, asset management and other capital-markets services. Through SNB Group subsidiaries and affiliates, the organization has maintained an international presence alongside its dominant Saudi franchise. Its domestic scale gives it a significant role in financing companies, infrastructure, housing, trade and major economic-development initiatives. SNB's ownership and structure have changed as Saudi financial markets developed. The bank was initially constituted as a general partnership and was reconstituted as a joint-stock company on 1 July 1997. In 1999, the Saudi government acquired a majority interest through the Public Investment Fund. A public offering approved in 2014 broadened the shareholder base: part of the bank's capital was offered to public investors and another allocation was made to the Public Pension Agency. The shares began trading on the Saudi Stock Exchange in November 2014. The defining strategic event in the modern history of the brand was its combination with Samba Financial Group. Announced as a transaction valued at approximately US$15.3 billion in the reference material, the deal was intended to create a major regional banking institution and was completed in April 2021. The merger combined NCB's large domestic customer and branch franchise with Samba's corporate, investment and international capabilities. The resulting group positioned itself as a leading institutional financier for Saudi Arabia's economic transformation and for projects associated with Vision 2030. SNB's public profile also rose because of its investment in Credit Suisse. The bank acquired a stake that ultimately approached the maximum authorized level of 9.9 percent. In March 2023, SNB chairman Ammar Abdul Wahed Al Khudairy resigned, citing personal reasons, after saying that SNB would not increase its investment in Credit Suisse because of regulatory constraints. The comments became part of the market turmoil surrounding Credit Suisse, which was subsequently acquired by UBS. SNB's Credit Suisse investment was consequently exposed to a substantial decline in value, although the precise realized or unrealized financial impact is not specified in the supplied source material. SNB presents itself as a strategic financial partner for Saudi Arabia's development agenda. Its scale, balance sheet and liquidity are intended to support local economic activity while facilitating trade and capital flows between Saudi Arabia, neighboring markets and the wider global financial system. Forbes Middle East ranked SNB third in its 2025 Top 100 Companies list and second in its 2025 ranking of the region's most valuable banks, according to the supplied reference material. The bank remains active, publicly traded and closely associated with the Kingdom's banking sector and Vision 2030 financing ecosystem.

Saudi National Bank began in December 1953 as National Commercial Bank, commonly abbreviated NCB. Its early development took place during the expansion and institutionalization of Saudi Arabia's banking system. For much of its existence, the bank operated as one of the Kingdom's principal commercial lenders, serving retail customers, companies and public-sector-related economic activity. The bank's legal form changed on 1 July 1997, when it was reconstituted from a general partnership into a joint-stock company. This change supported a more modern corporate and governance structure and prepared the institution for broader participation in Saudi capital markets. In 1999, the Saudi government acquired a majority holding through the Public Investment Fund, strengthening the bank's role as a government-linked national financial institution. Shareholder participation expanded further in the 2010s. At an extraordinary general meeting on 21 March 2014, shareholders approved an offering representing 25 percent of the bank's capital after a capital increase. The public received 15 percent of the bank's share capital through an initial public offering, while a further 10 percent was allocated to the Public Pension Agency. Subscription took place between 19 October and 2 November 2014, and the bank's shares began trading on the Saudi Stock Exchange on 12 November 2014. The next major stage was the proposed combination with Samba Financial Group. The transaction, described in the supplied source material as having an approximate value of US$15.3 billion, was designed to unite two large Saudi banking franchises and create one of the Gulf's largest banks. NCB and Samba completed the merger in April 2021, after which the combined organization became Saudi National Bank. The new group inherited NCB's domestic commercial reach and Samba's corporate, investment and international capabilities. Following the merger, SNB developed as a large financial group with subsidiaries and affiliates in multiple countries. Its strategy has been linked to Saudi Vision 2030, with emphasis on financing economic diversification, infrastructure, major projects, trade and capital flows. The bank's role extends beyond conventional retail banking: its corporate, institutional, treasury and investment-banking operations are intended to support both Saudi enterprises and large national or regional transactions. SNB became an important shareholder in Credit Suisse, eventually holding approximately 9.9 percent, the maximum level described in the supplied material. In March 2023, chairman Ammar Abdul Wahed Al Khudairy resigned, citing personal reasons. His departure followed public comments that SNB would not purchase additional Credit Suisse shares because of regulatory limits. Those comments occurred during an acute loss of confidence in Credit Suisse and contributed to intense market attention around the bank and its Saudi shareholder. Credit Suisse was subsequently taken over by UBS, creating a significant decline in the value of SNB's investment, although the supplied sources do not provide a verified loss figure or accounting treatment. SNB remains an active, publicly traded Saudi banking group. Its present identity combines the historic NCB franchise with Samba's legacy and is closely associated with the Kingdom's financial-sector development and Vision 2030. It is positioned as a large-scale provider of retail, corporate, institutional and capital-markets services, with the government remaining an important shareholder through related public entities.

• 2025

  Forbes Middle East rankings

  [1]Saudi National Banken.wikipedia.org

  The supplied reference material places SNB third in Forbes Middle East's Top 100 Companies and second among its 30 most valuable banks.

• 2023

  Chairman resigns during Credit Suisse crisis

  [1]Saudi National Banken.wikipedia.org

  Ammar Abdul Wahed Al Khudairy resigns as chairman after SNB rules out buying more Credit Suisse shares because of regulatory constraints.

• 2021

  Merger with Samba Financial Group

  [1]Saudi National Banken.wikipedia.org

  NCB completes its merger with Samba Financial Group and adopts the Saudi National Bank name.

• 2014

  Public offering and Tadawul listing

  [1]Saudi National Banken.wikipedia.org

  Shareholders approve a public offering; the shares begin trading on the Saudi Stock Exchange on 12 November.

• 1999

  Saudi government becomes majority shareholder

  [1]Saudi National Banken.wikipedia.org

  The government acquires a majority holding through the Public Investment Fund.

• 1997

  Reconstituted as a joint-stock company

  [1]Saudi National Banken.wikipedia.org

  NCB changes from a general partnership into a joint-stock company on 1 July.

• 1953

  National Commercial Bank is founded

  [1]Saudi National Banken.wikipedia.org

  The institution is established in December as National Commercial Bank, or NCB.

A systemically important Saudi universal bank and government-linked financial institution focused on domestic scale, corporate and institutional finance, capital-markets capabilities and support for Saudi Arabia's economic transformation.

• Consumer banking

  Retail banking

  SNB's retail franchise serves individuals with deposit accounts, payment cards, personal finance, residential finance, digital banking and everyday payment services. It represents the continuation of NCB's large domestic customer base and provides the group with a broad distribution platform across Saudi Arabia.

• Commercial banking

  Corporate and institutional banking

  Corporate and institutional banking provides lending, working-capital facilities, cash management, trade finance and relationship banking for companies, institutions and government-related entities. The business is central to SNB's role in financing Saudi enterprises, strategic transactions and large economic-development projects.

• Investment banking and asset management

  SNB Capital

  SNB Capital is the group's capital-markets platform. Its activities include investment-banking, securities and asset-management services. It extends SNB beyond deposit-taking and lending into advisory, investment products and institutional capital-market activity.

• Financial markets and transaction banking

  Treasury and trade finance

  Treasury and trade-finance services support liquidity management, foreign-exchange and broader financial-market needs, as well as the import, export and working-capital requirements of Saudi and regional businesses. These capabilities help connect Saudi economic activity with regional and international markets.

• 2023

  Credit Suisse investment and chairman resignation

  SNB's near-10 percent Credit Suisse holding became controversial during the Swiss bank's liquidity and confidence crisis. Chairman Ammar Abdul Wahed Al Khudairy's statement that SNB would not provide additional capital because of regulatory constraints was followed by his resignation and intensified market attention. Credit Suisse was later acquired by UBS, sharply reducing the value of the investment. The supplied sources do not establish misconduct by SNB.

  Source

Read more

• 2021SNB post-merger brand launch

  Saudi Arabia

  The completion of the NCB and Samba merger introduced Saudi National Bank as the combined group's principal brand and communicated its role as a national-scale financial institution.

  Outcome. The merged bank operated under the Saudi National Bank identity.

  Source
• Vision 2030 financial-partner positioning

  Saudi Arabia

  SNB positions its financing, corporate-banking and capital-markets capabilities around Saudi Vision 2030, emphasizing support for diversification, infrastructure, mega-projects and private-sector growth.

  Source

• 2023

  Decline to acquire additional Credit Suisse sharesStrategy

  Background

  SNB was Credit Suisse's largest shareholder or one of its largest shareholders, but regulatory limits constrained the amount it could own and the support it could provide.

  Action taken

  SNB stated that it would not purchase more Credit Suisse shares, while maintaining that it could not exceed the applicable regulatory ownership limit.

  Aftermath

  The statement became part of the market panic around Credit Suisse. Chairman Ammar Abdul Wahed Al Khudairy resigned two weeks later, and Credit Suisse was subsequently acquired by UBS.

  Source

• 2021

  Complete the Samba Financial Group mergerM&A

  Background

  NCB and Samba planned a large-scale combination intended to create a major Gulf banking group with greater domestic scale and broader corporate and international capabilities.

  Action taken

  The merger was completed in April 2021 and the combined institution was renamed Saudi National Bank.

  Aftermath

  The transaction created Saudi Arabia's largest commercial bank and established SNB Group as a major regional financial institution.

  Announced transaction value. Approximately US$15.3 billion (2021)

  Source

• 2021.12.23

  Reported2021.12.24

  Saudi National Bank launches sustainable financing framework[2]沙特国家银行推出可持续融资框架arabnews.com

  Saudi National Bank launched a sustainable financing framework, described as a first for the Kingdom’s banking sector. The framework is intended to enhance lending to organizations applying ethical practices while preserving the environment and empowering individuals and societies.

Read more

1. 1Saudi National Banken.wikipedia.org
2. 2沙特国家银行推出可持续融资框架arabnews.com