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.