About this Report

This Report has been prepared in accordance with the GRI Standards: Core option.

Report structure

This Integrated Annual Report provides a clear and concise picture of the Bank’s performance, operations, and strategy (as far as it is prudent to disclose such information) as it creates value over time against trends shaping its operating environment. The comprehensive integrated annual report in online HTML format is complemented by the concise integrated annual report in print and PDF.

Report boundary

The boundary for financial reporting includes Al Rajhi Bank (referred to as “the Bank” in this Report) and its subsidiaries (which, together with the Bank, are collectively referred to as the “Group”). When contributions by other Group entities are discussed they are referred to as “Group” or “Consolidated”. The Bank’s reporting focuses on aspects that may substantively affect the Bank’s ability to create value over the short, medium and long term and which may have a significant probability of occurrence.

Reporting period

This Report is consistent with the Bank’s usual annual reporting cycle for financial and sustainability reporting and covers the 12-month
period from 1 January to 31 December 2020. The most recent previous integrated report covered the 12-month period ended
December 31, 2019. There are no restatements of information provided in previous reports and no significant changes from previous reporting periods in the scope and aspect boundaries.


This Report complies with all applicable laws, regulations and standards, and guidelines for voluntary disclosures. Additional details can be found in the chapter on Governance (pages 112 to 134), and in the Financial Statements and the Notes thereon (pages 139 to 222).

The consolidated environmental, social and governance (ESG) data has been prepared in accordance with the following standards, principles, concepts and guidelines:

  • The International Integrated Reporting Framework (
  • The Smart Integrated Reporting MethodologyTM
  • Global Reporting Initiative Sustainability Reporting Guidelines – GRI Standards (

As organisations preparing an integrated report are not necessarily required to adopt The <IR> Framework categorisation of capitals (as provided in the paragraphs 2.10 and 2.17 – 2.19), the Bank has categorised the capitals differently in its value creation model diagram to aptly describe its value creation process. The process of preparing this Report has strengthened and reinforced integrated thinking across the Bank.

When launching new ventures and initiatives, the Group always takes into consideration the financial, economic, social, and environmental consequences of its actions. With its best in class systems and risk management processes, the Bank is in complete compliance with all local regulatory requirements.

The Consolidated Financial Statements as of and for the year ended December 31, 2020 are in line with International Financial Reporting Standards (IFRS) as endorsed in the KSA and other standards and pronouncements issued by the Saudi Organization for Certified Public Accountants (SOCPA). The Statements comply with the provisions of the Banking Control Law, the Regulations for Companies in the KSA, and the Bank’s Articles of Association.

Precautionary principle

The Bank is keenly aware of the direct and indirect social and environmental impact of its actions. The indirect consequences result from the business activities of its customers to whom the Bank lends in particular. The Bank avoids or reduces any such negative impacts through its credit policies, screening for social and environmental issues, post-disbursement supervision, and risk management processes.

Although the Bank’s business model and operations do not directly create a significant negative impact on the environment, every effort is made to reduce its own carbon footprint through initiatives such as solar energy usage, energy efficient air conditioning and the elimination of paper usage in its processes.


Your comments on this Report are most welcome. Please email: to send in your feedback on the Bank’s Integrated Annual Report 2020.

GRI 102-10, 102-11, 102-46, 102-48, 102-49, 102-50, 102-51, 102-52, 102-53, 102-54