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Sun, 08 Nov 2009 | 08:20 GMT

Al Rajhi Bank   (1120.SSE)
Last Trade
75.00 SAR
+ 0.33%
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Updated: Dec 19, 2008
 
Joint Stock
 
 
Provides Islamic commercial banking services including deposits, loans and credit cards; Islamic investment banking services including asset management, corporate advisory and brokerage.
Al Rajhi Banking and Investment Corporation until February 2006
1978 (June)
N/A Company, 8,299 Group (As of Dec 31, 2008) view history hide history
Date No of Emp    (group)  Yearly Growth
31-Dec-2008
8,299
+4%
17-Dec-2008
7,965
 
2,277
In 1978 a group of companies merged into Al Rajhi Trading and Exchange Corporation and formed Al Rajhi Banking and Investment Company.
Saudi Arabia (500)
Malaysia (19)
 
 
 
 
1120 
Ordinary 
SAR 
 
 Key Officers
Suleiman Bin Abdulaziz Saleh Al Rajhi
Chairman
Abdullah Bin Suleiman Al Rajhi
Director and Chief Executive Officer
 
 Contact Details
Address:
Aakaria 3 Building
7th Floor
Olaya Street
P.O. Box 28
Riyadh 11411
Saudi Arabia
 
+966 1-211-6000
 
+966 1-460-3351
 
contactus@alrajhibank.com.sa
 
www.alrajhibank.com.sa
 
www.alrajhibank.com.my

 
  Latest Headline
Al Rajhi Bank Malaysia To End 2009 With MYR6 Bln Assets-Report - Zawya Dow Jones News
 
  Business Overview
The Saudi-based Al Rajhi Bank is structured around three main segments; the commercial banking segment, which is made up of retail and corporate banking; the treasury segment, and the investment services and brokerage segment.

Al Rajhi Bank is the largest Islamic bank in the GCC and the third largest commercial bank in Saudi Arabia, among all conventional and Islamic banks, with SAR165 billion (USD44 billion), in terms of total assets, as of 2008.

The bank’s core activity is commercial banking, contributing 72% of net income, in 2008 which was SAR6.5 billion (USD1.73 billion). This compares to 74% in 2007’s net income which was SAR6.44 billion (USD1.72 billion) . The retail segments contributed by 50% to net income and the corporate contributed by the remaining 22% in 2008. The treasury segment contributed 24% of the bank’s net income in 2008 compared to 21% in 2007. The investment services and brokerage segment constituted 2.5% of the bank’s net income in 2008 decreasing from 4.2% contribution in 2007.

The bank has increased investments by 36%, in 2008, to SAR147.4 billion (USD39.3 billion), out of which 74% was mainly concentrated inside the country and the remaining 26% was invested abroad. In 2007, 91% of the bank’s total investments were local; it increased its investments abroad by 17%, in 2008.

Al Rajhi Bank was established in 1978, as the Al Rajhi Banking and Investment Corporation, by merging a number of establishments owned by Al Rajhi family into Al Rajhi trading and Exchange Corporation. In 1987, it was converted into a joint stock company and began providing banking services, locally. In 2006, the bank changed its name to Al Rajhi Bank. Al Rajhi Bank established its first overseas operation abroad , in October 2006, when it established a wholly owned bank in Malaysia, with 19 branches, as of December 2008.
 
 
 Major Shareholders
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  Organization Structure and Related Entities 
Subsidiaries/Associates/Affiliates
 
Name  Country  Holding
Al Rajhi Bank - Malaysia Malaysia 100.00%
Al Rajhi Investment Corporation United Kingdom 100.00%
Arpent VAT United Kingdom 100.00%
ARA 1 Company (Jersey) United Kingdom 99.00%
Al Rajhi Capital Saudi Arabia 99.00%
Al Rajhi Company for Development Saudi Arabia 99.00%
Sister Companies
 
Name  Country  Holding
Arpent Investment United Kingdom -
Funds
 
Name  Country  Holding
Al Rajhi First Real Estate Fund Saudi Arabia -
Al Rajhi Fund for Emerging Markets Saudi Arabia -
Al Rajhi Fund for India and China Saudi Arabia -
Al Rajhi Petrochemicals and Cement Stocks Fund Saudi Arabia -
Balanced Fund I Saudi Arabia -
EUR Commodity Mudaraba Fund Saudi Arabia -
European Equity Fund Saudi Arabia -
Global Equity Fund Saudi Arabia -
Global Small Capitalization Fund Saudi Arabia -
Saudi Riyal Commodity Mudaraba Fund Saudi Arabia -
USD Commodity Mudaraba Fund Saudi Arabia -
Related Organizations
 
Name  Country  Holding
Accounting and Auditing Organization for Islamic Financial Institutions Bahrain -
 
 
  Representatives
Auditors
Ernst and Young
PricewaterhouseCoopers
 
 Summary Financials
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 Available to subscribers only. Information in this section includes key financials data such as Total Revenues, Net Profits, Totals Assets, Shareholder Equity, etc. » More Details
 
Company information provided by © 2009 ABQ Zawya Ltd.
 
 
    
 
 
 
 
 

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