Founded in 1957, Al Rajhi Bank is one of the largest banks in the world with total assets of SR 343 billion (US$ 80 billion), a paid up capital of SR 25 billion (US$ 6.67 billion) and an employee base of over 9,600 associates..
Best Islamic Bank in Saudi Arabia - The Banker
2018 - Global Awards
Best Bank in Saudi Arabia - Euromoney
3 consecutive years 2016, 2017 and 2018
Best Bank in Saudi Arabia - The Banker
2018 - Global Awards
Best Employer Award - Employer Branding Awards
2018 - Regional Awards
October 25, 2020
Al Rajhi Bank Chairman of the Board of Directors, Mr. Abdullah bin Sulaiman Al Rajhi announced that the bank made profits before Zakat, in the third quarter of the year 2020, that have reached 2,963 Million Riyals, as opposed to the second quarter of the current year, with a 9% increase. Thus, the total profits of the bank for the first nine months of the current year before zakat will be 8,333 million riyals. Total operating income for the first nine months increased by 3.1% compared to the same period of the previous year, as a result of the increase in the net financing income, investments and brokerage fees.
Mr. Al Rajhi added that the shareholders’ equity increased by 13%, reaching 55 Billion Riyals by the end of the first nine months. Similarly, total assets improved and reached 430 Billion Riyals with an increase of 17% over last year’s same period. The bank’s total financing assets amounted to 290 Billion Riyals with an increase of 18%. Mr. Al Rajhi clarified that customer balances increased by 16% with a total of 345 Billion Riyals at the end of the first nine months, as the rate of return on assets and shareholders' equity reached 2.48% and 19.16%, respectively, and the earnings per share during the period after Zakat stood at SR 2.99. The Chairman of the Board of Directors also clarified that the bank continued to maintain its conservative allocation policy, as the coverage rate of non-performing finances rose to 293%.
Mr. Abdullah Al Rajhi thanked the bank’s esteemed customers for their ongoing trust, loyalty and compliance with its developments, especially those pertaining to the digital banking sector, and with financing products provided to meet their needs. Mr. Al Rajhi also thanked the bank’s employees for their efforts in achieving these distinguished results and praised the governmental initiatives presented by the Saudi Arabian Monetary Agency to support the private sector, and that of small and medium enterprises in particular, by postponing installments for 3 additional months. He added that during the third quarter, the bank continued to implement precautionary and preventive measures in all its establishments and branches, and was keen to protect its employees and customers as well as support government efforts in this field.
October 08, 2020This IPO news is available only in Arabic.
October 01, 2020Al Rajhi Bank launches an awareness campaign in collaboration with the Gulf Center for Cancer Control and Prevention
Al Rajhi Bank, in collaboration with the Gulf Center for Cancer Control and Prevention at King Faisal Specialist Hospital and Research Center in Riyadh, sponsors an awareness campaign in the General Administration for Women and 18 women's branches in Riyadh, Qassim and Al-Ahsa, in addition to an educational campaign on social media about the disease along with its prevention and treatment.
A group of specialized charities are participating in the implementation of the campaign activities, namely the Anti-Cancer Charitable Society in Al-Ahsa (Tafaul), the Balsam Association for Rehabilitation and Support of Families of Cancer Patients in Buraidah, the Tuhur Association for Care and Support of Cancer Patients in Unaizah, and the Zahra Breast Cancer Association.
The campaign aims to raise awareness about the disease and the risk factors causing it, as well as to stress on the importance of early screening for breast cancer. The field campaign targets female employees at the bank in addition to female customers inside the branches, where specialists in this field provide primary information about the disease and demonstrate how to conduct a self-examination.
The bank ensures its participation in this initiative every year by organizing an educational campaign inside the branches. Throughout the previous years, the campaign had a strong turnout of female customers and a big interaction from the bank’s female employees along with specialists from the charities involved.