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Context
value creation model
Financial Capital
Strong book value of the Bank reflecting profitability and asset quality.
Institutional Capital
Cutting edge knowledge-based intangibles and tangibles owned and controlled by the Bank.
Investor Capital
Loyal investor base nurtured and rewarded through sound governance and ethical business practices.
Customer Capital
Trust and loyalty earned by putting the customer at the heart of all we do.
Business Partner Capital
A bedrock of market confidence and financial stability through exemplary stewardship.
Employee Capital
An innovative team of achievers driven by a passion to serve.
Social and Environmental Capital
A licence to operate earned through our contribution towards financial inclusion aligned with Vision 2030.
Growing prudently across business sectors
Improving employee capacity and opportunities
Enhancing customer-centric and segment-specific products and services
Strengthening digital leadership position
Enhancing infrastructure, operations, and centralisation
(Refer Business in Perspective from pages 53 to 143)
- SAR 16.6 Bn. net income (after Zakat)
- SAR 594 Bn. in net financing
- SAR 573 Bn. in customer deposits
- 600,000+ total training hours clocked
- Employee engagement score reached 74%
- Net promoter score reached 76
- 12.6 million active digital users
Value delivered:
- Improved performance
- Timely and responsive customer solutions
- Professional development for employees
- Enhanced systems and processe
Value derived:
- Profitability and stakeholder loyalty
- Business portfolio and market share growth
- Engaged and empowered employees
- Brand value and market leadership
Build an ecosystem of digital services beyond our core banking offering to fulfil a growing spectrum of banking needs while providing financial security for customers.
Be an integral player in the development of a thriving financial sector, and a key enabler of the Kingdom’s Vision 2030 by contributing to the diversification of the Kingdom’s economy.
The value drivers
Al Rajhi Bank’s value is driven by its Vision and Mission (refer This is Al Rajhi Bank on page 8); engagement with stakeholders (refer Stakeholders on page 39); and integrated thinking and strategy (refer Strategic Direction on page 46). The adoption of a multi-capital mindset drives the Bank’s strategy formulation, powering it further on its integrated reporting journey.
The results chain
The Bank’s future earnings are driven by value derived from and delivered to stakeholders. The Bank creates value in this manner sustainably over time as it continues to build and strengthen relationships with its key stakeholder groups. Al Rajhi Bank considers such stakeholder groups to be forms of “capital”.
In addition to financial capital and Institutional capital, other capital includes investor capital, customer capital, business partner capital, employee capital, government and regulatory capital, and social and environmental capital (refer Stakeholders on page 39). Together, these capitals provide the “inputs” for the Bank’s activities, enabling delivery of value to and deriving of value from stakeholders over time.
The Bank’s system for transforming input capitals through business activities into outputs, outcomes and impact is illustrated in the Value Creation Model on pages 30 – 31. Each segment that follows “Inputs” is part of a results chain that represents value creation in the current, short, medium, and long term respectively.
Completing the picture
The business drivers and the results chain described previously are complemented by events and trends in the internal and external operating environment (refer Operating Context on page 33), good governance (refer Governance on pages 181 to 216) risk management practices (refer Risk Management on pages 217 to 223), and the ongoing monitoring and evaluation of the Bank’s performance in the current, short, medium, and long term.
Despite the vibrant nature of the value creation process – where the individual capitals are constantly rising, falling, or being preserved – Al Rajhi Bank remains focused on increasing the overall stock of capital (refer Business in Perspective on pages 53 to 143).