Arab Bank
Arab National Bank (ANB) established a branch in Jeddah in 1949. One of the founders is Prince Khalid, son of Prince Turki bin Abdulaziz. Early on, both the Governments of Saudi Arabia and Kuwait took on small stakes in Arab Bank of about 10 per cent each. Despite this and despite being pan-Arab in its orientation, Arab Bank was unable to escape the policy limiting foreign ownership. In 1980, it transferred its six branches to the newly created Arab National Bank. Arab National had a service agreement with Arab Bank that expired in 1988 and was not renewed. Arab Bank owns 40 per cent of the bank and some 5000 Saudi shareholders own 60 per cent. In 2002, the Governments of Saudi Arabia and Kuwait own about eight per cent of Arab Bank between them. ANB has opened a branch in London. Its largest shareholder(40%) is Arab Bank and Headquartered in Amman, Jordan.