Al Rajhi Bank

Al Rajhi Bank is a Saudi bank that began operating in 1957 [1], and its roots trace back to the money-changing and currency-exchange business started by Sulaiman Al Rajhi [9]. In 1978 the various institutions bearing the Al Rajhi name were merged under a single umbrella as Al Rajhi Banking and Trading Company [2]; in 1988 the bank converted into a public Saudi joint-stock company under the name Al Rajhi Banking and Investment Corporation [2], and it adopted its current name, Al Rajhi Bank, in 2006 [2].

Its head office is in Riyadh [2], and it is among the largest banks in the world by market value and the largest in the Middle East and in the Kingdom of Saudi Arabia [2].

The bank has an extensive network of more than 500 branches, more than 4,300 ATMs, 900,299 point-of-sale devices and 136 remittance centres, and it has the largest customer base among Saudi banks [2].

Its workforce numbers more than 24,000 employees [1], and its assets exceed one trillion riyals [1].

On 17 Safar 1429 AH, corresponding to 24 February 2008, the bank's Extraordinary General Assembly approved an increase in capital from 13.5 billion riyals to 15 billion riyals through the grant of one free share for every nine shares held [3].

Sulaiman Al Rajhi said that the bank's capital had risen within a few years from 750 million riyals to 15 billion riyals, affirming the bank's strength and standing among local and regional banks alike [3]. In the same year its branches numbered 450 for men and 107 for women, its ATMs 1,950 machines and its staff 8,036 employees, and it owned more than 80% of its branch buildings across the regions of the Kingdom [3].

In the first quarter of 2008 the bank achieved net profits of one billion and 602 million riyals, its assets reached 143 billion riyals and shareholders' equity 24 billion riyals, and during the quarter it received seven awards in the field of finance from Euromoney and Islamic Finance [6].

By the end of 2015 its net profits reached 7,130 million riyals, up 4.3% from the comparable year 2014; fourth-quarter net profit was 1,949 million riyals and earnings per share were 4.39 riyals [5].

His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region, inaugurated the Al Rajhi Bank Tower in Riyadh on 17 Sha'ban 1440 AH, corresponding to 22 April 2019 [4]. Chairman of the Board Abdullah bin Sulaiman Al Rajhi noted the bank's journey over six decades and its record across the eras of development in the Kingdom [4].

The Governor of the Saudi Central Bank, Ayman bin Mohammed Al-Sayari, witnessed on 2 Rabi' al-Awwal 1447 AH, corresponding to 25 August 2025, the signing by the Fund for Martyrs, the Wounded, Prisoners and Missing Persons of a cooperation agreement with the bank to build housing for the fund's beneficiaries [7]. Chairman of the Board Abdullah Al Rajhi affirmed that the initiative comes in appreciation and fulfilment of the sacrifices of the nation's heroes, and in support of the housing sector and the bank's community contributions [7].

Qiddiya Investment Company and the bank announced on 19 Jumada al-Akhirah 1447 AH, corresponding to 10 December 2025, the signing of a strategic partnership agreement extending for five years [8]. Under the agreement the bank becomes the official banking partner and main sponsor of the two destinations Six Flags Qiddiya City and Aquarabia [8].

Q: What is Al Rajhi Bank? A: A Saudi bank that began operating in 1957, adopted its current name in 2006, and has its head office in the city of Riyadh.

Q: When did Al Rajhi Bank convert into a joint-stock company? A: It converted in 1988 into a public Saudi joint-stock company under the name Al Rajhi Banking and Investment Corporation, after its institutions were merged in 1978 into Al Rajhi Banking and Trading Company.

Q: How large is Al Rajhi Bank's network? A: More than 500 branches, more than 4,300 ATMs, 900,299 point-of-sale devices and 136 remittance centres, with more than 24,000 employees.

Q: How has the bank performed financially? A: Its net profits at the end of 2015 reached 7,130 million riyals, up 4.3% from 2014, and in the first quarter of 2008 it achieved net profits of one billion and 602 million riyals.

Q: What are the bank's most prominent recent partnerships and contributions? A: A cooperation agreement with the Fund for Martyrs, the Wounded, Prisoners and Missing Persons to build housing for its beneficiaries in 2025, and a strategic partnership with Qiddiya Investment Company extending for five years.

Al Rajhi Bank leads Saudi banks in customer base [2], and this presence comes within the context of developing the financial sector in the Kingdom and within Saudi Vision 2030 and its programmes aimed at diversifying income sources and developing the private sector.