ANNUAL REPORT 2020

This is Al Rajhi Bank

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

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

Al Rajhi Bank is a Saudi joint stock company.


established as an exchange house


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


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.

Everything the Bank does is built around its core values, which puts the customer at the heart of all its activities.

  • Integrity and transparency
    Openness and highest standards of corporate and personal ethics
  • A passion to serve
    A strong commitment to anticipate and address customer needs
  • Solution oriented
    Helping customers achieve their objectives
  • Modesty and humility
    Humility in everything we do
  • Innovativeness
    Nurturing imagination and
    fostering creativity
  • Meritocracy
    Defining, differentiating, and reinforcing excellence in people
  • Care for society
    Contributing towards a better tomorrow

The Bank

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.

The Bank’s business is diversified across the following:

Al Rajhi Bank Group

The Al Rajhi Bank Group provides clients with innovative products and services
that combine Islamic values with modern commercial requirements.

The Group consists of the following subsidiaries situated within the Kingdom and overseas.

Subsidiaries and International Branches in brief

  • Al Rajhi Development 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.
  • Al Rajhi Corporation Limited – Malaysia
    A licensed Islamic Bank under the Islamic Financial Services Act 2013, incorporated and domiciled in Malaysia.
  • 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.
  • Al Rajhi Bank – Kuwait
    A foreign branch registered with the Central Bank of Kuwait.
  • Al Rajhi Bank – Jordan
    A foreign branch operating in Hashemite Kingdom of Jordan, providing all financial, banking, and investments services and importing and trading in precious metals and stones in accordance with Islamic Sharia’a rules and under the applicable banking law.
  • Al Rajhi Takaful Agency Company – KSA
    A limited liability company registered in the Kingdom of Saudi Arabia to act as an agent for insurance brokerage activities per the agency agreement with Al Rajhi Cooperative Insurance Company.
  • Al Rajhi Company for Management Services – KSA
    A limited liability company registered in the Kingdom of Saudi Arabia to provide recruitment services.
  • 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 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 transaction on be half of the Bank.

(Refer Review of Subsidiaries on page 63)

Strength and reach

  • One of the largest banks in Saudi Arabia in terms of assets – accounting for 16% of total assets and 19% of total deposits among banks in the Kingdom at end 2020
  • A market capitalisation of SAR 184 Bn.
    as of 31 December 2020
  • Diverse traditional and modern channels spanning the Kingdom including:
    • 543 branches (with188 ladies branches and 148 sections)
    • 5,211 ATMs
    • 204,549 POS terminals
    • 226 Tahweel centres and 5 Tahweel mobile centres (for remittance)
    • Online banking
    • Mobile banking
  • Processing the payrolls of over 50% of government employees
  • Handling an average of 362 million transactions and over a million remittances per month and partnering with over 200 correspondent banks in around 50 countries
  • 9,380 employees at end 2020 ranking the Bank among the top 10 employers in the Kingdom
  • One of the largest Islamic banks in the world with the largest branch network in the Middle East including 10 branches in Jordan, 2 branches in Kuwait and also 16 branches in Malaysia operated by the Bank’s subsidiaries
  • Total Group assets amounted to SAR 469 Bn. as of 31 December 2020

Committed to Vision 2030

The Bank continues to contribute 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.

GRI 102-16, GRI 102-2, 102-6

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