DUBAI: Saudi National Bank, formed from the merger of National Commercial Bank and SAMBA Financial Group, has revealed its new brand identity.
The bank’s slogan is “Together, we build tomorrow,” which signifies its forward-thinking approach, it said in a statement.
“The bank’s new logo and identity signify a fresh start, and the merged bank’s local and regional competitiveness, in keeping with its role of contributing to the Kingdom’s Vision 2030 program,” it said in a statement.
Saudi banks are transforming their operations and services in response to a number of disruptive forces that are also re-shaping the broader regional and global banking sector. At the same time, younger digital native customers are demanding greater digitalization of services that in the past required visits to branches.
The bank’s chairman, Ammar Abdul Wahed Al-Khudairy, said the new bank identity reflected the “evolving Saudi Arabia.”
“One rooted in national heritage, with a modern vision for the future, and with the scale, prowess and expertise to deliver on it,” he added.
SNB is the Kingdom’s biggest bank with SR896 billion ($239 billion) in total assets and SR127 billion in shareholders’ equity.
SNB, formed from NCB and SAMBA merger, gets brand makeover
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SNB, formed from NCB and SAMBA merger, gets brand makeover
- SNB is the Kingdom's biggest bank with SR896 billion ($239 billion) in total assets and SR127 billion in shareholders’ equity
Saudi POS stays above $4bn as Ramadan spending lifts outlays on home goods
RIYADH: Saudi point-of-sale transactions remained above $4 billion in the week ending Feb. 14, with spending on furniture and home supplies rising ahead of Ramadan, central bank data showed.
Overall POS activity totaled SR15.34 billion ($4.09 billion), representing a 4.8 percent week-on-week decrease, while the number of transactions dipped 1.6 percent to 252 million, according to the Saudi Central Bank.
Spending on furniture and home supplies rose 5.9 percent to SR697.35 million, marking the strongest weekly increase among major retail categories.
Expenditure on electronics increased 2.9 percent, while spending on construction and building materials rose 1.1 percent.
Sectors that saw declines includes freight transport and courier services, which posted a drop of 5 percent to SR64.86 million.
Pharmacy and medical supplies spending fell 8.2 percent to SR223.81 million, but outlays on medical services rose 5.7 percent to SR539.68 million.
Food and beverage expenditure decreased 4.3 percent, but the total spend of SR2.57 billion meant it retained the largest share of POS activity.
Restaurants and cafes followed with SR1.73 billion, despite a 4.7 percent decline. Apparel and clothing outlays represented the third-largest share of POS spending during the monitored week, up 0.5 percent to SR1.38 billion.
The Kingdom’s major urban centers mirrored the mixed national changes. Riyadh, which accounted for the largest share of total POS spending, saw a 3.4 percent drop to SR5.32 billion. The number of transactions in the capital reached 80.7 million, down 0.8 percent week on week.
In Jeddah, transaction values decreased 4.4 percent to SR2.12 billion, while Dammam reported a 3.3 percent decrease to SR746.29 million.
POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.
The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.
The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.
