Qatar National Bank (QNB), the Middle East and Africa’s largest lender by assets, has secured approval from the Saudi Central Bank (SAMA) to establish a new digital bank in the Kingdom under the name Ezbank.
With an initial capital of SAR 2.5 billion ($667 million), Ezbank will operate as a fully digital lender, offering services designed to meet the needs of Saudi Arabia’s rapidly growing digital economy. The initiative is a joint venture between QNB and Ajlan & Bros Holding, a prominent Saudi investment company.
QNB, which currently operates in 28 countries across three continents, said the launch underscores its commitment to expanding its presence in key regional markets while supporting Saudi Arabia’s financial innovation agenda.
The addition of Ezbank brings the total number of licensed banks in Saudi Arabia to 39, including 15 Saudi banks and 24 foreign banks, reflecting the Kingdom’s growing role as a financial hub in the region.
