Riyad Bank

Riyad Bank (بنك الرياض) is one of the largest financial institutions in Saudi Arabia, ranked fourth in assets.

History
It was established in 1957. The Saudi government owns 51% of the shares of the firm.

Like other Saudi commercial banks, Riyad Bank is supervised by the Saudi Central Bank.

In June 2010, the homepage of the bank's website was hacked by hackers demanding the dismissal of the mayor of the province of Medina.

In July 2013, Riyad Bank chose Calypso for the management of its global cash flows.

In March 2018, Riyad Bank launched contactless payment wristbands, using the Gemalto digital security solution.

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.