July 28, 2020
Al Rajhi Bank announced its continuous support during the Eid Al Adha holiday through 63 branches and 38 Tahweel centers operating across the Kingdom of Saudi Arabia. Customers are welcome from 10:00 AM until 4:00 PM in all branches with the exception of the first day of Eid, while branches in Mecca are operational daily from 9:00 AM until 7:00 PM including the first day of Eid. Other branches will be operational starting from the second day of Eid from 10:00 AM until 4:00 PM. Airport branches will be available 24/7 every day, and the bank will offer its services through its mall branches and outlets as well. On the other hand, Tahweel centers will be operational from 9:30 AM until 5:00 PM.
It is worth mentioning that Al Rajhi Bank ensures the provision of all banking services to its customers during the Eid vacation, for them to be able to benefit from a wide network of advanced ATM machines in addition to available POS devices at retail stores across the Kingdom. The bank also sets itself apart by offering self-service devices and interactive ATM machines in a large number of branches, in addition to an integrated package of digital banking services through Al-Rajhi and Al-Mubasher App for Individuals, available around the clock, including ordering different products as well as making transfers and payments without the need to visit the branch.
July 23, 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 second quarter of the year 2020, that have reached 2,716 Million Riyals, as opposed to this year’s first quarter, which amounted to 2,654 Million Riyals i.e. an increase of 2.3%. That being said, the bank’s total profits for the first six months of the current year before Zakat have amounted to 5,370 Million Riyals. The operating income of the first six months has increased by 2.9% compared to the first half of the year 2019 as a result of a high net income from financing and investments.
Mr. Al Rajhi added that the shareholders’ equity increased by 4%, reaching 52 Billion Riyals by the end of the first six months. Similarly, total assets improved and reached 418 Billion Riyals with an increase of 13% over last year’s same period. The bank’s total financing assets amounted to 275 Billion Riyals with an increase of 15%. Mr. Al Rajhi clarified that customer balances increase by 11% with a total of 335 Billion Riyals at the end of the first six months, as the rate of return on assets and shareholders' equity reached 2.46% and 18.78%, respectively, and the earnings per share during the period after Zakat stood at SR 1.93.
Mr. Abdullah Al Rajhi thanked the bank’s esteemed customers for their ongoing trust, loyalty and interaction with its developments, especially those pertaining to the digital banking sector, and with the provision of financing products that meet their needs. Mr. Al Rajhi also thanked the bank’s employees for their efforts in achieving these distinguished results in light of the current challenges and pandemic that has affected everyone around the world and the country as well as sectors across various fields. He also praised the governmental initiatives presented by the Saudi Arabian Monetary Agency to support the private sector, especially the sector of small and medium enterprises affected by the measures that resulted from the emerging Coronavirus pandemic. He explained that during the second 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.
July 02, 2020
Al Rajhi Bank Launches Motor Insurance Service through Al Rajhi Mobile App
Al Rajhi Bank has just launched a third-party motor insurance service through Al Rajhi Mobile App, which makes it the first bank in the Kingdom to provide this service through a digital platform.
The new service, which is in full compliance with the rulings and principles of the Shariah law, will be implemented in cooperation with Al Rajhi Takaful.
This new endeavor is a part of the bank’s strategy to become the leader of digital banking in the Kingdom by providing its customers with the best digital services and solutions. The entire process of the motor insurance can be done easily through Al Rajhi Mobile App, and the customer will immediately receive the insurance policy via e-mail, in addition to a 5% discount on his/her plan.
It’s worth mentioning that Al Rajhi Bank always strives to put the customers’ needs at the heart of the new digital products development process. That’s why Al Rajhi Bank decided to establish Saudi Arabia’s first Innovation Lab in the banking industry of Saudi Arabia.