GRI 2-23

our vision

To be a trusted leader delivering innovative financial solutions to enhance quality of life everywhere.

our mission

To be the most successful bank, admired for its innovative service, people, technology and Sharia compliance products, both locally and internationally.

history

Al Rajhi Bank is a Saudi joint stock company.

1957

established as an exchange house

1988

converted to a bank under the name Al Rajhi Banking and Investment Corporation

2006

named Al Rajhi Bank

The Bank was formed and licensed in accordance with Royal Decree No. M/59 and Article 6 of the Council of Ministers’ Resolution No. 245, both of June 1987.

our values

Our core values articulate why we are the number one bank of choice in the Kingdom.

Integrity & Transparency

Openness and highest standards of corporate and personal ethics in all that we do.

A Passion to Serve Our Customers

A strong commitment to anticipate and address customer needs beyond expectation, helping them achieve their objectives.

Modesty

Humility in thought and deed in everything we do.

Innovativeness

Nurturing imagination and fostering creativity for better results.

Meritocracy

Defining, differentiating and reinforcing excellence in people.

Care for Society

Contributing towards a better tomorrow.

the bank

GRI 2-1

Headquartered in Riyadh, Kingdom of Saudi Arabia, Al Rajhi Bank operates under Commercial Registration No. 1010000096. A member of the Al Rajhi Bank Group, the Bank is listed on the Saudi Stock Exchange (Tadawul) with the Ticker No. RJHI [1120].

Al Rajhi Bank is the world’s largest Islamic bank with SAR 762 Bn. (USD 203 Bn.) in assets, a paid-up capital of SAR 40 Bn. (USD 11 Bn.) and an employee base of over 19,964 associates.

The Bank’s business is diversified across the following

al rajhi bank group

The Al Rajhi Bank Group provides clients with innovative financial products and services that are simultaneously in line with Islamic banking principles and modernity-oriented. The Group is Sharia-compliant and is instrumental in bridging the gap between 21st-century financial demands and intrinsic Islamic values.

Subsidiaries and International Branches in Brief

GRI 2-6

• Al Rajhi Capital Company – KSA
  A Saudi closed joint stock company authorised by the Capital Market Authority to carry on securities business in the activities of dealing/brokerage, managing assets, advising, arranging and custody.
• Management and Development for Human Resources Company – KSA
  A limited liability company registered in the Kingdom of Saudi Arabia to provide recruitment services.
• Al Rajhi Bank – Kuwait
  A foreign branch registered with the Central Bank of Kuwait.
• Al Rajhi Bank – Jordan
  A foreign branch operating in the Hashemite Kingdom of Jordan, providing financing, banking, and investments services, and importing and trading in precious metals and stones in accordance with Islamic Sharia and applicable banking laws.
• Al Rajhi Corporation Limited – Malaysia
  A licensed Islamic Bank under the Islamic Financial Services Act 2013, incorporated and domiciled in Malaysia.
• Tuder Real Estate Company – KSA
  A limited liability company registered in the Kingdom of Saudi Arabia to support the mortgage programs of the Bank through transferring and holding the title deeds of real estate properties under its name on behalf of the Bank, collection of revenue of certain properties sold by the Bank, provide real estate and engineering consulting services, provide documentation service to register the real estate properties and overseeing the evaluation of real estate properties.
• Emkan Finance Company – KSA
  A closed joint stock company registered in the Kingdom of Saudi Arabia providing micro consumer financing, finance lease and small and medium business financing.
• Tawtheeq Company – KSA
  A closed joint stock company registered in the Kingdom of Saudi Arabia providing financial leasing contracts registration to organise contracts data and streamline litigation processes.
• Al Rajhi Financial Markets Ltd.
  A Limited Liability Company registered in the Cayman Islands with the objective of managing certain treasury related transactions on behalf of the Bank.
• International Digital Solutions Co. (Neoleap)
  A closed joint stock company owned by the Bank for the purpose of practising technical work in financial services, digital payment systems, financial settlements and related services.
• Ejada System Limited Co. – KSA
  A Saudi Limited Liability owned by the Bank for the purpose of providing professional, scientific, technological activities, information communication services, system analysis and senior management consultation services.

Strength and reach

• Largest bank in terms of financing portfolio and second largest bank in Saudi Arabia in terms of assets – accounting for 21% of total assets and 25% of total deposits among banks in the Kingdom as of 31 December 2022
• Total Group assets amounted to SAR 762 Bn. as of 31 December 2022.
• A market capitalisation of SAR 301 Bn. as of
  31 December 2022
• Diverse traditional and modern channels spanning the Kingdom including:
• 516 branches
• 4,727 ATMs
• 533,442 POS terminals
• 174 Tahweel centres
• Expanding digital banking ecosystem
• Growing mobile banking ecosystem
• Processing the payrolls of around 50% of government employees
• Handling an average of 697 million transactions and over 1.9 remittances per month and partnering with over 200 correspondent banks in around 50 countries
• 19,964 employees at the end of 2022 ranking the Group among the top 10 employers in the Kingdom
• The largest Islamic bank in the world with the largest branch network in the Middle East including 10 branches in Jordan, 2 branches in Kuwait and 13 branches in Malaysia
• Al Rajhi Bank’s return matrices remain industry-leading with Return on Equity standing at 22.68% and best in-class Cost to Income ratio at 26.1% and Asset Quality with NPL standing at 0.54% as on 31 December 2022

Committed to Vision 2030

The Bank remains one of the Kingdom’s main contributors towards the three themes of Vision 2030: a vibrant society, a thriving economy, and an ambitious nation. With a significant number of the goals of Vision 2030 either directly or indirectly connected with finance, the Bank is ideally placed to further the Kingdom’s aspirations, policies, and plans in its journey towards realising Vision 2030 in the coming years.