Saudi Investment Bank to Sell Amex Saudi Stake

Saudi Investment Bank has agreed to sell its 50 percent stake in American Express Saudi Arabia to its joint-venture partner in a deal valued at about SAR1.43 billion, in a move that reshapes the ownership of one of the Kingdom's established payment and card services providers.

Under the agreement, the bank will exit its half of the joint venture, transferring full control to the partner. The transaction marks a significant portfolio decision for the lender as it focuses on its core banking activities.

American Express Saudi Arabia has long operated in the Kingdom's cards and payments sector, serving individual and business customers with credit and charge card products. The change in ownership does not, on its own, alter the day-to-day services available to existing cardholders.

For residents and businesses across Riyadh, Jeddah and other cities, deals of this scale reflect the continued activity and consolidation within Saudi Arabia's financial services market. A stronger, single-owner structure can allow a payments company to plan longer-term investment in products and technology.

Transactions of this size typically require regulatory review before completion. Customers are generally advised to rely on official notifications from their card provider regarding any future updates to accounts, terms or services.

---

Stay updated with the latest news, events, sports updates, business insights, real estate and lifestyle stories on Saudi Living — the leading online platform for residents, expats, and visitors in Saudi Arabia.

Follow Saudi Living for daily updates:

• Instagram - @saudiliving
• X - @saudiliving
• Facebook - @saudiliving
• YouTube - @saudiliving