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The Saudi Investment Bank has signed an agreement to sell its full 50 percent stake in American Express Saudi Arabia to Amex Middle East, the bank said in a disclosure filed with Tadawul. The upfront payment totals SAR 1.43 billion, equivalent to $381.4 million, and is due in cash upon completion of the deal. The Saudi Investment Bank will also receive a deferred purchase price reflecting its portion of distributable profits generated by the company between the signing and the final share transfer, according to the terms outlined in the original shareholders agreement.
The divestment follows the termination of a shareholders agreement that the parties first signed on September 25, 2018, the bank’s filing showed. The stake had a book value of SAR 637.7 million as of November 30, 2025, on which the Saudi Investment Bank expects to record a gain of SAR 792.4 million once the sale closes. Completion of the transaction is subject to customary regulatory approvals from the relevant Saudi authorities.
American Express Saudi Arabia, which is headquartered in Riyadh, issues credit cards and offers other American Express branded products across the kingdom, according to the Saudi Investment Bank’s 2025 board report. The company reported revenue of SAR 644.3 million and net profit of SAR 152 million for the full year 2025, continuing an upward trend from prior periods. These results contributed to the premium valuation achieved in the stake sale.
Proceeds from the transaction will be deployed to reinforce the Saudi Investment Bank’s financial position and advance its core strategic priorities, the lender stated in the Tadawul disclosure. The bank recorded net profit above SAR 1 billion in the first half of 2026, a 3 percent rise from the year-earlier period, according to its interim financial statements. The General Organization for Social Insurance holds a 26 percent ownership interest in the Saudi Investment Bank.
The exit occurs against the backdrop of regulatory adjustments by the Saudi Central Bank that capped international credit card transaction fees at 2 percent and cash withdrawal charges at 3 percent beginning in 2025. Those measures have compressed margins for card issuers at a time when cashless payments continue to expand rapidly across the kingdom. The deal transfers complete ownership of the Saudi operation to Amex Middle East, consolidating control under the global payments group.
The Saudi Investment Bank’s shares rose 0.6 percent to close at SAR 14.60 on the day following the announcement, according to Saudi Exchange data. The stock has advanced 11 percent so far in 2026. Market participants viewed the premium realized over book value as supportive of the bank’s balance sheet management strategy.
