ArabianBusiness.com - Middle East Business News
Sunday, 08 November 2009 | 11:33 UAE time

COMPANY SEARCH:

COMPANIES

Riyad Bank

  • 0.00 Last
  • 0.00 (%) Today's Change
  • 0 Volume
  • 0.00-0.00 52 Week Range
  • 0.00 (0.00%) 52 Week Change
As of 8 Nov 2009 03:33 GMT (Market Closed)

COMPANY DESCRIPTION

Founded in 1957 with an initial capital of $13.3m, the company is the oldest publicly-held bank in the Kingdom and is one of three 100 percent Saudi-owned in Saudi Arabia.

The company said in January that it has allocated SAR900m ($240m) in provisions after a revaluation of its investments portfolio.

“The allocations were about SAR900m… such provisions have to be made at the end of the year because we have to revaluate the investment portfolio,” Mohammad Rabea, first deputy chairman of the bank, told Al Arabiya television, according to newswire Reuters.

“This is only precautionary ... Our investments are solid and strong and are rated A+ and B+,” he said.

Riyad Bank operates 201 branches and has grown to become a lead financier, particularly in arranging the flow of syndicated loans in the oil, gas, petrochemicals, power and water sectors.

The bank has a special network of ladies’ branches that do not require the guarantee of a sponsor. At these branches, clients have the option to receive all of their bank related mail through their accounts, enabling them to review it in complete privacy.

KEY INFORMATION

Industry

Asset Management, Commercial Banks, Investment Funds

Address

King Abdulaziz Road, 22622, Riyadh, Saudi Arabia

T

966 1 4013030

F

966 1 4042707

E

-

W

www.riyadbank.com

COMPANY OVERVIEW

Ownership Type Established on Employees
Public Joint stock 23 November 1957 -

MAJOR SHAREHOLDERS

NameCountry
Mohammed Ibrahim Mohammed Al Issaindividuals10.6Saudi Arabia
General Organization for Social Insurance - Saudi Arabiacompanies21.6Saudi Arabia
Public Investment Fundcompanies21.7Saudi Arabia
Saudi Arabian Monetary Agencycompanies6.5Saudi Arabia

PORTFOLIO

NameCountry
Riyad CapitalSaudi Arabia
Saudi Travellers Cheque CompanySaudi Arabia
Royal and SunAlliance InsuranceSaudi Arabia
Industrialization and Energy Services CompanySaudi Arabia
AGAL Finance ServicesSaudi Arabia
The Global Company for Cooperative InsuranceSaudi Arabia

OFFICERS

BOARD OF DIRECTORSPosition
Rashed Abdulaziz Al RashedChairman
Abdulrahman Hassan SharbatlyBoard Member
Abdullah Ibrahim A. Al HudaithiBoard Member
Abdullah Mohammed Ibrahim Al IssaBoard Member
Khaled Hamza NahasBoard Member
Abdulaziz Bin Saleh Bin Mansour Al JarbouBoard Member
Faris Abdullah AbalkhailBoard Member
Mohammad Abdulaziz Al AfaleqBoard Member
Fahad Abdulrahman Al HowaimelBoard Member
Abdullah Ibrahim Al AyadhiBoard Member
MANAGEMENTPosition
Talal I. Al QudaibiPresident and Chief Executive Officer
Suliman A. Al GwaizDeputy Chief Executive Officer
Thalib A. Al ShamraniExecutive Vice President - Risk Management
Abdulmajeed A. Al MubarakExecutive Vice President - Corporate Banking
Ali A. Al SaffarExecutive Vice President - Support Services
Abdulaziz S. Al MalkiExecutive Vice President - Treasury and Investment
Saeed S. Al SiairriExecutive Vice President - Operations
Abdulkareem H. Al FarajExecutive Vice President - ITD
Adel Ahmed Al SheikhExecutive Vice President - Branches
Saad Q. Al QassimExecutive Vice President - Finance
Khalid S. Al JasserExecutive Vice President - HR

LATEST FINANCIAL JOBS

  1. Business Analyst, Abu Dhabi, UAE
  2. Asst to General Manager, Abu Dhabi, UAE
  3. Office Manager / Secretary, Abu Dhabi, UAE
  4. Personal Assistant, Qatar, Qatar
  5. Client Manager, Abu Dhabi, UAE

Browse all jobs »

Information correct at the time of publishing. If you are a representative of this company and want to update the details, please email updated information to financials@itp.com providing your name, designation and contact details. All markets data located on ArabianBusiness.com is subject to the ArabianBusiness.com Terms & Conditions. Content should be used for general information use only. Charts and statics display delayed intraday data. Share price information may be rounded up/down and therefore may not be entirely accurate Selected data supplied by Reuters Limited. Click for Restrictions.