Environmental, Social and
Corporate Governance Review

Riyad Bank acknowledges the critical role of the banking sector in advancing Saudi Arabia’s aspirations for a low-carbon and sustainable economy. The Bank prioritizes sustainability as a fundamental aspect of its commitment to fostering a responsible banking environment within the Kingdom. In this landscape of increasing demand for sustainable financing solutions, Riyad Bank is dedicated to enhancing its financial offerings and supporting clients in their transition towards environmentally and socially sustainable practices.

2025 marked significant milestones for the Bank with the roll-out of financed emission targets for high-impact sectors, expansion of the sustainable finance framework (SFF), launch of sustainability training for all employees, enhancement in the Bank’s approach to climate and ESG risk management, and the establishment of a robust governance and oversight structure.

The Sustainability strategy, which encompasses corporate social responsibility (CSR) initiatives, is designed to align with Saudi Arabia’s Vision 2030. As sustainability is a core element of Vision 2030, these efforts contribute to the achievement of national objectives and enhance Riyad Bank’s pursuit of leadership in sustainability within the Kingdom.

Riyad Bank’s Sustainability strategy is anchored in a double materiality assessment, which evaluates financial and impact materiality to align priorities with Stakeholder expectations and global best practices. This assessment defines 10 strategic priority areas and reinforces 9 existing focus areas where the Bank has already demonstrated leadership. By integrating sustainability into its business practices, Riyad Bank is positioned to capitalize on emerging opportunities while effectively managing associated risks, thereby ensuring long-term resilience and value creation for all Stakeholders. The Sustainability strategy takes a science-based approach to emissions reduction and sustainability, drawing on best practices from regional peers. It is informed by recommendations from the Science Based Targets initiative (SBTi), and the Glasgow Financial Alliance for Net Zero (GFANZ), along with methodologies from the Greenhouse Gas (GHG) Protocol, the Net Zero Banking Alliance (NZBA), and the United Nations Environment Program Finance Initiative (UNEP). Since 2024, the Bank has started to align with the International Sustainability Standards Board (ISSB) frameworks (IFRS S1 and S2) to enhance reporting and transparency, ensuring adherence to global frameworks.

Riyad Bank accelerated its sustainability journey through several key partnerships in 2025. By joining the UN Global Compact (UNGC), the Bank reinforces its commitment to responsible practices across human rights, labor, environment, and anti-corruption. The Bank has signed the UN Principles for Responsible Banking (UN PRB) embedding sustainability into its core strategy, aligning its business with the UN Sustainable Development Goals (SDGs) and the Paris Agreement. As a CDP Capital Markets Signatory, Riyad Bank will elevate its environmental disclosure and climate risk reporting. By adopting the Partnership for Carbon Accounting Financials (PCAF) standards, the Bank ensures accurate measurement and transparent reporting of its financed and facilitated emissions. Engagement with the Loan Market Association (LMA) enables Riyad Bank to advance sustainable finance practices and align its lending activities with international principles. These strategic partnerships position Riyad Bank at the forefront of sustainable banking in Saudi Arabia.

The Bank actively collaborates with national institutions to advocate for policies and practices that support sustainable banking practices. Riyad Bank is a member of SAMA’s ESG Saudi Banks Advisory Committee (EBAC), which is responsible for formulating recommendations for the banking industry. Riyad Bank is one of the 2 banks that are part of the Ministry of Economy and Planning’s (MEP) Corporate Sustainability Policy Development Working Group (CSPD WG) tasked with supporting the development of sustainability reporting standards for companies in the Kingdom. Under MEP’s flagship programs, the Bank has been recognized as one of 19 ‘Sustainability Champions’ across the Kingdom. As a part of this initiative, the Bank leverages its expertise and experience in sustainability and ESG to mentor corporates - Jeel and Esnad, in developing their sustainability capabilities– as they develop their Sustainability strategy and enhance their disclosures, catalyzing transformation in the Kingdom.

Additional details on our sustainability journey can be found in the 2025 Sustainability Report.

Riyad Bank advances sustainability, supporting net zero financing and low-carbon growth.

Key Highlights

level sustainability governance established

Achieved

% 31 Bn.

in sustainable financing, reaching our 2030 target ahead of schedule

CSR Bukra impact

771,857

beneficiaries

MSCI ESG

rating upgraded to A and Bloomberg ESG rating score to 2.85

11.4%

women in leadership and 29.9% women in workforce

Riyad Bank’s Sustainability Strategy

Environmental

Commit to net zero financing in line with KSA net zero ambition

Target

Net zero financed emissions by 2060

2030 Targets - Power: 186 tCO2/GWh

Iron and steel: 1.3 tCO2/t steel

2025 Update and Performance

On track

Commit to net zero operations by 2035

Target

Net zero operations by 2035

2025 Update and Performance

On track

Scope 1=2,992 tCO2e

Scope 2=65,925 tCO2e

Scale sustainable finance products and services

Target

% 20 Bn. by 2030

2025 Update and Performance

Achieved

% 31 Bn. by 2025

Social

Increase women leadership representation and diversity / inclusion initiatives

Target

35–40% women in workforce by 2027

20–30% women in leadership by 2027

2025 Update and Performance

On track

29.9% women in workforce

11.4% women in leadership

Design tailored ESG training programs to develop and attract talents

Target

100% employees trained on ESG topics by 2026

2025 Update and Performance

On track

98% employees completed the training in 2025

Governance

Integrate sustainability in Governance and Board (create Sustainability Committee)

Target

Dedicated Board-level committee

2025 Update and Performance

Achieved

3-level governance established:

Board Sustainability Committee

Executive Sustainability Strategy Committee

Sustainability Strategy Working Group and Sustainable Finance Working Group

Sustainability policies

Target

Develop an overarching sustainability policy

2025 Update and Performance

On track

The policy has been developed and is pending the final approval

Disclose in line with best practices and standards

Target

Align ISSB disclosures by 2027

2025 Update and Performance

On track

Begin alignment in 2024

Integrate sustainability in Governance and Board (integrate sustainability KPIs in Executives’ compensation)

Target

Executive compensation linked to sustainability KPIs

2025 Update and Performance

Achieved

Sustainability KPIs embedded in the executives’ compensation

ESG risk management frameworks and policies

Target

Develop ESG risk management frameworks and policies

2025 Update and Performance

Achieved

Phase 1: Capacity building

The ESG and climate risk policy has been developed and is pending the final approval

Phase 2: Implementation phase

Engage with regulator and industry to shape sustainability practices in the region

Target

Join 4 industry partnerships

2025 Update and Performance

Achieved

Riyad Bank is now a signatory to UNGC, UN PRB, PCAF, CDP, and LMA

Environmental

Shaping a
greener future

Riyad Bank recognizes its role in Saudi Arabia’s journey towards a sustainable future, actively contributing to environmental initiatives that align with Vision 2030. By integrating sustainable practices into its operations and financing solutions, the Bank supports the Kingdom’s commitment to a green economy while fostering resilience and innovation within the financial sector. The Bank’s efforts reflect not only its responsibility but also the dedication to creating lasting environmental impact.

Operational and Portfolio Footprint

Operational emissions

Riyad Bank is committed to addressing its operational emissions, focusing on Scope 1 and Scope 2 emissions. Recognizing that banks have the greatest control over their direct operations and electricity purchases, this commitment aligns with internationally agreed aims to limit global warming levels.

The Bank has established a target to achieve net zero emissions for Scope 1 and Scope 2 by 2035. The 2023 emissions baseline was calculated in accordance with the GHG Protocol, with a focus on emissions avoidance and reduction rather than compensation and offsetting. The methodology for establishing the emissions baseline involved a comprehensive assessment of the Bank’s operations, including all subsidiaries and foreign offices, to ensure a complete inventory of emission sources.

In 2023, Riyad Bank’s Scope 1 emissions totaled 3,683 metric tons of CO2e, primarily from fugitive emissions associated with refrigerant gases used in air conditioning units. Scope 2 emissions were recorded at 67,837 metric tons of CO2e, calculated using both market-based and location-based approaches. The Bank utilized various emission factors sourced from reputable organizations to ensure accuracy in these calculations.

To achieve its net zero target, Riyad Bank has developed a strategy that includes several key levers for emission reduction. These strategies involve enhancing energy efficiency through the replacement of low-efficiency air conditioning units, implementing LED lighting, and utilizing double glazing on windows. Additionally, the Bank plans to explore the feasibility of using refrigerants with lower global warming potential.

The Bank is also exploring options to source renewable energy through the purchase of International Renewable Energy Certificates (i-RECs) to match its electricity consumption. This approach is aligned with the Bank’s commitment to supporting renewable energy initiatives within Saudi Arabia. The Bank aims to achieve a 90% reduction in its operational emissions through these strategies, with any remaining emissions to be offset using high-quality carbon removal credits.

Riyad Bank’s commitment to achieving net zero emissions for Scope 1 and Scope 2 by 2035 reflects its dedication to sustainability and environmental responsibility. By implementing these measures and continuously monitoring progress, the Bank aims to lead by example and enhance its own sustainability performance and contribute to the global transition toward a low-carbon economy.

In 2025, the Bank achieved 9% reduction in Scope 1 and 2 emissions, compared to 2024, and 4% decrease compared to the baseline year 2023. The table below details Riyad Bank’s operational emissions.

Scope	2023*	2024	2025
Scope 1 tCO2e	3,683	4,480	2,992
Scope 2 tCO2e	67,837	71,144	65,925
Total (Scope 1+2) tCO2e	71,519	75,624	68,917

* Scope 2 emissions for the year ended 31 December 2023 have been restated from 55,668 tCO2e to 67,837 tCO2e. This adjustment follows a refinement in our data collection methodology and improved integration of external data sources to ensure a more comprehensive reflection of our operational footprint.

Environmental Footprint

Riyad Bank is committed to minimizing its environmental footprint through a complete approach that emphasizes energy efficiency, waste reduction, and water conservation.

To optimize energy consumption, the Bank has implemented several key initiatives, including the deployment of Building Management Systems (BMS) in branches to effectively monitor and control energy usage. Significant infrastructure upgrades have been made, including the installation of LED lighting, double-glazing windows, and high-efficiency Variable Refrigerant Flow (VRF) air conditioning systems.

Additionally, Riyad Bank is actively replacing high-emission refrigerants with environmentally friendly alternatives that have a lower global warming potential. Targeted electricity savings programs aim to reduce electricity consumption across head offices, warehouses, and branches, while the promotion of paperless initiatives through digital banking solutions helps to decrease paper usage and the associated energy costs of printing. In collaboration with Naqaa, Riyad Bank recycled a total of 10,280 kg of plastic and paper waste. The Bank also collaborates with Saudi Investment Recycling Company (SIRC) to operate 4 reverse vending machines (RVMs) and has recycled 115,022 plastic bottles and aluminum in 2025. This progress reflects the Bank’s ongoing efforts to enhance its recycling rate and environmental impact.

In terms of waste management, the Bank has initiated programs to reduce waste generation. For example, Riyad Bank has installed plastic recycling machines in various bank buildings and branches.

To address water consumption, Riyad Bank has implemented smart faucet sensors and eco-friendly flushing systems.

As of the latest data, Riyad Bank’s total energy consumption is detailed in the table below:

Environmental performance

Category	2023	2024	2025
Electricity (kWh)
Total energy consumption	113,911,075	119,426,027	110,790,848
Water (m³)
Total water consumption	212,700	245,548	205,519
Waste (Tonnes)
Total recycled waste	2.59	14.40	13.24

Financed Emissions

Riyad Bank is committed to addressing financed emissions as part of its sustainability objectives, recognizing the necessity for banks to establish net zero targets to combat climate change. Riyad Bank stands out as the first - and still the only - bank in the Kingdom to set sector targets for financed emissions, demonstrating industry leadership and transparency in its approach. Furthering this leadership, Riyad Bank also chairs the PCAF MENA Region Database Working Group, playing a pivotal role in establishing regional governance, mapping emissions data, and leading capacity-building efforts to enhance the quality and availability of financed emissions data across the region.

The Bank’s financed emissions from the commercial loans portfolio in 2023 were calculated using over 90% of the total exposure, with a PCAF data quality score of 4.85, indicating a reliance on proxied data. As the Bank enhances its data quality and internal processes through direct engagement with clients, it anticipates a transition towards more accurate emissions reporting, reducing dependency on sector-region averages.

The Bank completed baselining its financed emissions for the corporate portfolio across all sectors. This was followed by a detailed assessment which involved comparing the current emissions baseline for 3 high-emission priority sectors - power, iron and steel, and oil and gas - with established decarbonization pathways from the International Energy Agency (IEA) to identify the necessary reductions to achieve the 2030 target. The analysis indicated that these 3 sectors account for approximately 40% of the Bank’s financed emissions. To bridge the identified emissions gap, the Bank is focused on increasing its exposure to green assets, including renewable energy projects and hydrogen initiatives, while ensuring that these efforts align with the Saudi Vision 2030 and the Saudi Green Initiative objectives.

In the power sector, Riyad Bank has set a target based on the IEA’s net zero reference scenario, anticipating growth in renewable energy capacity by 70% by 2030. The strategy includes maintaining at least 60% of the portfolio in renewable energy sources and gradually increasing the share of gas-based production to replace oil.

For the iron and steel sector, the Bank aims to support a significant increase in production, projected to rise by 90% for iron and 65% for steel by 2030. The current emissions intensity baseline is below the global average, primarily due to financing production methods that utilize natural gas. The Bank’s target is to achieve an emissions intensity of 1.3 tCO2/t steel by 2030, leveraging opportunities in hydrogen-based steel production.

In the oil and gas sector, Riyad Bank has established a baseline emissions intensity, recognizing the domestic producers’ position as one of the most sustainable in terms of cost and carbon footprint intensity globally. This sector is expected to play a crucial role in ensuring the security of global energy markets for the foreseeable future. The Bank is committed to supporting the transition to cleaner energy sources, including opportunities in hydrogen production. By monitoring emissions and exploring innovative solutions, Riyad Bank aims to strengthen its sustainability leadership and contribute to the Kingdom’s decarbonization efforts.

Riyad Bank’s approach to financed emissions reflects a commitment to sustainability while ensuring financial viability. By integrating ESG and climate considerations into lending decisions and actively engaging with clients on their decarbonization journeys, the Bank aims to improve its ESG performance and contribute to the global transition toward a low-carbon economy.

Financed Emissions Baseline and Targets

Power Sector

2023 Baseline Emissions Intensity:

188 tCO2/GWh.

2030 Target

186 tCO2/GWh.

Iron and Steel Sector

2023 Baseline Emissions Intensity:

1.4 tCO2/t Steel.

2030 Target

1.3 tCO2/t Steel.

Sustainable Finance

Riyad Bank is addressing the growing demand for sustainable finance in Saudi Arabia by financing major sustainability projects that align with the Saudi Vision 2030 and the Green Initiative. The Bank has successfully achieved its 2030 ambitious target ahead of schedule by extending %31 Bn. of green and social financing. This achievement reflects a robust pipeline of sustainable projects, as well as a portfolio comprising of over 70 eligible green projects and over 9,500 eligible social transactions. Additionally, Riyad Bank has issued 2 Sustainability Sukuks totaling USD 1.5 Bn. (%5.625 Bn.), which are fully allocated to both green and social projects and contributing to the overall sustainable financing efforts.

Recent developments further exemplify Riyad Bank’s commitment to sustainable finance. This year, the Bank announced a partnership with the Environment Fund to launch “NASEEM”, the largest financing program for the environmental sector in the Kingdom, amounting to % 1 Bn. This pioneering initiative aims to foster green initiatives and promote sustainable development, empowering businesses to innovate and develop green infrastructure, conservation projects, and circular economy solutions that contribute to both national and global sustainability goals.

Riyad Bank has updated its Sustainable Finance Framework (SFF), which outlines the Bank’s approach to financing projects that meet environmental and social standards. This framework incorporates best practices and aligns with the latest guidelines and principles of the ICMA and LMA that were published in 2025. The SFF facilitates issuance of various sustainable financing instruments, including Green, Social, Blue, and Sustainability Bonds, as well as Sukuks and Loans. It emphasizes the use of proceeds for eligible activities that align with Saudi Vision 2030 and the Kingdom’s commitment to achieving net zero emissions by 2060. The revised framework expands on the Bank’s approach towards exclusion and introduces additional categories of eligible green and social activities such as biodiversity, climate adaptation, circular economy, food security, and socioeconomic advancement and empowerment. The Bank ensures transparency and accountability in project evaluation, selection, and reporting processes. With the updated SFF, published in early 2026, Riyad Bank aims to strengthen its leadership in sustainable finance, driving meaningful impact and creating long-term value for the Kingdom and its communities.

Additionally, Riyad Bank actively supported LMA on its recent publication, the Guide to Transition Loans, reflecting the Bank’s active role as a standard shaper in transition pathways and contributing to the development of emerging market practices. The newly established Transition Finance Framework (TFF) represents a pioneering initiative in the Kingdom, highlighting Riyad Bank’s commitment to supporting the transition to a low-carbon economy. The TFF provides a clear and structured approach to identifying and financing activities that facilitate the gradual reduction of emissions in hard-to-abate sectors while maintaining economic resilience. This framework aims to support clients and sectors on credible pathways to decarbonization. It provides a structured approach to identifying and financing activities that facilitate the gradual reduction of emissions in hard-to-abate sectors while maintaining economic resilience. The eligible transition activities identified under the framework are supporting projects that are not yet green, but are on a credible, science-based, and time-bound pathway to alignment with the goals of the Paris Agreement and the Kingdom’s Net Zero by 2060 objective. The Bank is committed to ensuring that all transition finance activities adhere to robust environmental and social safeguards, thereby promoting a just transition. The establishment of this framework positions Riyad Bank as a leader in the region’s sustainable finance landscape, enhancing its capacity to support the Kingdom’s ambitious decarbonization efforts under Vision 2030. This underscores the Bank’s recognition of the critical role that transition finance plays in achieving national and global climate objectives.

Furthermore, the Bank was honored with the Impact Finance Award at the CARE ESG Awards, with leaders commenting on the recognition as a reflection of their tangible progress towards building a more sustainable and resilient financial sector in the region. This acknowledgment reinforces Riyad Bank’s determination to elevate its efforts and continue playing a leading role in shaping a sustainable future for its customers, communities, and the region.

Looking ahead, Riyad Bank aims to continue its momentum in sustainable finance by developing innovative solutions that meet the evolving needs of its customers and support the Kingdom’s sustainability goals. The Bank is committed to prioritizing investments that contribute to a low-carbon economy and align with Saudi Vision 2030. Building on the achievement of its % 20 Bn. sustainable finance target, Riyad Bank is actively assessing a new, higher target to match the increasing demand for sustainable finance in Saudi Arabia. By delivering ongoing projects that exemplify its dedication to environmentally responsible development, Riyad Bank is positioned to play a pivotal role in shaping a sustainable future for the Kingdom and its communities, ensuring that it remains at the forefront of the sustainable finance landscape.

Case Study

Red Sea Global

Riyad Bank led a %6.5 Bn. (USD 1.73 Bn.) green credit facility for Red Sea Global’s (RSG) development of AMAALA, a luxury wellness tourism destination. Riyad Bank acted as a sole underwriter for this transaction which adheres to RSG’s Green Loan Framework aligned with international standards.

This marks Riyad Bank’s third major partnership with RSG, reinforcing its commitment to sustainability and Saudi Arabia’s Vision 2030. AMAALA, opened in 2025, features 1,400 hotel rooms and pioneering amenities. Two signature attractions at AMAALA are the Corallium Marine Life Institute, an oceanic research and education center, and the AMAALA Yacht Club, designed to become a premier global destination for luxury yachting.

Riyad Bank’s leadership in green finance supports transformative, environmentally responsible developments with significant economic and reputational impact.

Social

Empowering people,
communities, and society

Riyad Bank is committed to advancing Saudi Arabia’s social development agenda by enhancing community well-being and encouraging a supportive workforce. The Bank prioritizes financial well-being, community empowerment, and environmental protection while also focusing on employee well-being, talent development, and diversity and inclusion. By promoting diverse representation across all levels and ensuring customer satisfaction through innovative digital solutions, Riyad Bank aims to create sustainable growth and improve quality of life throughout the Kingdom.

CSR Approach

Bukra Strategy

Mission

To advance the Kingdom’s social development agenda as a CSR leader.

Vision

To deliver world-class CSR programs that have a meaningful and long-term social impact on Riyad Bank’s community.

3 Pillars

Enable financial well-being
Empower communities
Conserve ecosystems

Riyad Bank launched its Social Responsibility Program, Bukra, in 2019, establishing a framework designed to drive meaningful and long-term social impact across the Kingdom. The CSR strategy, updated in January 2024, is built on 3 key pillars: Enable, Empower, and Conserve. These pillars guide the Bank’s initiatives and ensure alignment with Vision 2030, and contributions to the UN Sustainable Development Goals (SDGs).

The Board Sustainability Committee and Executive Sustainability Strategy Committee provide a two-tier oversight of the Bank’s CSR strategy ensuring that initiatives are effectively integrated into operations and align with strategic goals.

Riyad Bank’s CSR initiatives are guided by a clear focus on addressing the needs of individuals and communities facing the greatest social and economic challenges, in alignment with national social protection priorities. Our programs are designed to support underserved segments, including beneficiaries registered within the Kingdom’s social security system, while promoting inclusion, dignity, and long-term empowerment.

Financial Access and Well-Being

Riyad Bank is dedicated to enhancing financial well-being in Saudi Arabia through impactful initiatives aimed at reducing youth unemployment, supporting small and medium-sized enterprises (SMEs) and entrepreneurs, and improving financial access and literacy.

Support MSMEs and Entrepreneurs

Riyad Bank has made significant strides in supporting MSMEs and entrepreneurs. The Bank aimed to train and mentor 5,000 entrepreneurs and has already engaged 41,546 participants. This progress is facilitated through strategic partnerships, such as the collaboration with Misk, which enhances the support provided to the entrepreneurial ecosystem.

Enhance Financial Access and Literacy

Riyad Bank recognizes the importance of enhancing financial access and literacy for disadvantaged and marginalized communities. The Bank set a goal to educate 30,000 individuals, including 10,000 from these communities. To date, it has reached an impressive nearly 509,703 individuals, exceeding the target through the Bukra Journey program, which offers comprehensive financial literacy classes and workshops.

Empower Communities

Riyad Bank is equally committed to empowering communities through initiatives that support women and individuals with disabilities.

Empower Women

The Bank aims to sponsor 200 women and girls in educational programs and provide job training for 100 women. In 2025, the Bank implemented women empowerment programs in Makkah, with trainings related computer skills, English and sewing. Current progress against those targets shows, 242 participants in education programs and 150 in-job training. Through Bukra’s signature program “My Bank’s Journey”, the Bank supported women entrepreneurs and productive families by delivering a dedicated workshop on Entrepreneurship and Productive Families, benefiting 565 participants.

Empower People with Disabilities

The Bank is focused on improving community access for 100 people with disabilities, with current progress at 140 individuals, achieving 140% of the target. In partnership with the Disabled Children’s Association, Riyad Bank supports the “Haram Children Program”, providing comprehensive medical, educational, and rehabilitation services to 100 children with disabilities. This initiative reinforces the Bank’s commitment to empowering individuals with disabilities.

Volunteer Participation Rate

Riyad Bank has set a target of 2,000 volunteering hours across various programs annually. As of now, the Bank has achieved 24,866 volunteering hours, and have over achieved the target through diverse volunteer activities.

Conserve Our Ecosystems

Riyad Bank is committed to conserving ecosystems as part of its broader social responsibility strategy, recognizing the importance of environmental stewardship in enhancing community well-being and sustainability.

Tree Plantation and Water Conservation

The Bank continues to support Bukra Nursery with the aim to plant 4,000,000 trees by 2032 to revitalize ecosystems. In 2025, Riyad Bank planned to plant 400,000 trees which was 100% achieved. This initiative reflects the Bank’s dedication to environmental sustainability

In addition to our ongoing reforestation initiatives, Riyad Bank recognises water conservation as a critical environmental priority for the Kingdom. While our environmental efforts in 2025 focused primarily on tree planting, we laid the groundwork for expanded water conservation and awareness initiatives, which will form a key area of focus in 2026 in line with our Sustainability Strategy.

2025 CSR Impact

41,546

SMEs and entrepreneurs mentored

Reached

509,703

individuals through financial literacy programs

24,866

hours of employee and community volunteering

Case Study

Partnership with Misk Foundation

Riyad Bank’s strategic partnership with the Misk Foundation on the Entrepreneur Track is a pivotal element of its social responsibility efforts. This collaboration has provided crucial resources and fostered innovation among young entrepreneurs, contributing significantly to the Kingdom’s economic diversification. In 2025, the Misk Foundation expanded its reach with 41,546 beneficiaries and 5,400 jobs created. Events were organized throughout the year with activities under Entrepreneurs Community, Misk Accelerator, Misk Launchpad, and Misk Startup School Masterclasses. Participants of various programs benefited through 1-1 coaching sessions, investment opportunities, workshops, hackathons, fundraising bootcamps, networking, and investor connections.

Case Study

My Banking Journey Tour

The “My Banking Journey” Tour is a flagship financial literacy initiative that has successfully engaged nearly 509,703 beneficiaries across 8 cities in Saudi Arabia, ensuring inclusive access for families, youth, women entrepreneurs and the elderly by providing tailored workshops on saving, budgeting, and responsible financial decision-making. This initiative exemplifies the Bank’s commitment to financial inclusion and education.

Case Study

Al-Hajj Initiative

During the Al-Hajj initiative, over 500 volunteers from Riyad Bank and the community supported pilgrims’ safety and comfort, distributing essential supplies and benefiting thousands. This initiative exemplifies the Bank’s dedication to community service and engagement.

Human Capital

Riyad Bank is focused on building a diverse and inclusive workforce, recognizing that human capital is essential for achieving the Bank’s goals. The Bank is dedicated to diversity and inclusivity, ensuring equal opportunities for all employees, regardless of gender, age, or disability. The Bank is committed to upholding internationally recognized human rights and labor standards and align our practices with the United Nations Global Compact (UNGC) principles .

To support a diverse workforce, Riyad Bank has set a target of achieving 35-40% of women in the workforce and 20-30% women in leadership roles by 2027. The Bank implemented various initiatives aimed at increasing female representation across all levels. Currently, 29.9% and 11.4% of the Bank’s total workforce and leadership positions are comprised of women, respectively. The Bank promotes gender pay equality and in 2025, the average gender pay gap was 2%. As part of its dedication to equal opportunities, Riyad Bank also aims to increase workforce participation of individuals with disabilities to 1%. Riyad Bank is a Mowaamah certified organization, affirming its commitment to fostering a disability inclusive workplace. It provides a work environment that is accessible and friendly for people with disabilities. The Bank also offers a specialized career consulting program for employees with disabilities to help them develop and advance their career paths.

Riyad Bank has a high Saudization rate of 96%, one of the highest among large organizations in the Kingdom.

Training and development are important aspects of Riyad Bank’s human capital strategy. Tailored ESG training programs are designed to develop talent and enhance employees’ skills. In 2025, 98% of employees completed ESG training. Additionally, the Bank ensures that all employees receive the necessary resources to upskill and advance in their careers.

Total Training Hours

98,845

2024: 41,328

Average Training Hours per Employee

17.8

2024: 7.3

The well-being, health, and safety of employees, contractors, and visitors is important to Riyad Bank. This commitment is reflected in the Health and Safety Policy, which ensures a safe working environment through proactive risk management and strict regulatory compliance.

Riyad Bank further emphasizes employee well-being by providing a supportive work environment that includes comprehensive benefits and recognition initiatives. Employees can leverage flexible and hybrid working arrangements, which are especially helpful for female employees returning to work after maternity leave. Benefits are designed to support employees and their families and include medical insurance, children’s education allowances for SVPs and above, daycare allowance for female employees, disability allowances for all employees, uncapped housing allowances, and investment savings programs, among others. Additionally, employees have seamless access to the Bank’s financing products, including zero-interest loans.

Investment Savings ( % '000s)

Statement	Employees' Share	Bank's Share	Total
Balance at the Beginning of the Year	64,272	25,150	89,422
Deposits in 2025	19,456	6,568	26,024
Withdrawals in 2025	(20,480)	(4,473)	(24,953)
End-of-Year Balance	63,248	27,245	90,493

Finally, the Bank conducts annual employee engagement and satisfaction surveys, and the results of the 2025 survey indicate a satisfaction score of 67%, reflecting the effectiveness of employee engagement strategies.

Customers

Riyad Bank is committed to delivering exceptional customer experience and ensuring that services remain accessible, inclusive, and aligned with regulatory standards. Combining digital innovation with a strong physical presence across the Kingdom helps the Bank meet diverse customer needs efficiently and responsibly.

Supporting the growth of MSMEs is a priority for the Bank. The government-led Small and Medium Enterprises Loan Guarantee Program “Kafalah” aims to support SMEs in obtaining the necessary financing to expand and develop their activities. As a participant in the Kafalah program, the Bank facilitates guaranteed financing for MSMEs, helping them grow. Beyond financing, Riyad Bank offers digital account opening for startups, streamlining access to essential services.

No-cost retail checking accounts are available to all customers, making banking accessible to all. Programs such as Token Junior Banking engages younger generations. Riyad Bank also supports home ownership through affordable mortgage solutions under the Ministry of Municipalities and Housing Sakani Program. In addition, the Bank partners with the Cultural Development Fund to finance private sector organizations undertaking cultural projects in sectors like film, music, and heritage, supporting economic diversification and contributing to the goals of Vision 2030.

A strong network of 224 operating branches and 1,670 ATMs across the nation are complemented with channels like Riyad Self-service, and instant payment services, further enhancing convenience and accessibility. The Bank provides a fully accessible experience through an inclusive mobile app. This year, the Riyad Bank app was enhanced further to support visually impaired users by easier voice navigation and full screen reader compatibility. The physical facilities include audio-enabled and low-height ATMs, wheelchair-friendly facilities, accessible branch layouts, enhanced emergency systems, and priority services for people with disabilities and the elderly. In collaboration with Riyad Academy and the Authority for the Care of Persons with Disabilities, the Bank organized employee training workshops pertaining to etiquette for interacting with persons with disabilities and the basics of sign language. These measures ensure that all customers have access to the Bank and banking systems with ease and independence.

In line with SAMA requirements, the Bank prioritizes customer protection through clear disclosures, fair advertising practices, and responsible debt collection. The Bank has policies to ensure transparency and integrity in all customer interactions, including rigorous standards for advertising, product development, and service delivery. The Product and Service Advertising Controls Policy ensures that all marketing communications are accurate, clear, and compliant with regulatory requirements, while the New Products and Services Policy establishes robust processes for risk management, customer protection, and regulatory compliance in the development and launch of new offerings. Together, these policies reinforce Riyad Bank’s commitment to safeguarding customer interests and maintaining the highest ethical standards in its business practices.

In addition to these policies, the Bank provides a range of customer support services to address individual needs and promote financial well-being. Loan modification options are available for customers facing financial difficulties, ensuring flexibility and support during challenging times. Complaint handling processes comply with regulatory guidelines, ensuring timely and fair resolution. In 2025, the Bank saw a 23% decrease in customer complaints, compared to 2024, with 100% service level agreement (SLA) compliance achieved for complaints. The Customer Experience team is equipped to address customer concerns and ensure effective complaint resolution. In 2025, they engaged with over 10,000 customers, actively listening and providing timely solutions.

Customer satisfaction is a KPI for Riyad Bank, and is tracked through post-interaction surveys, feedback across channels and metrics such as Net Promoter Score (NPS), Customer Effort Score (CES), Customer Satisfaction (C-SAT), turnaround time, and error rates. These metrics are reported directly to the CEO and Customer Focus Committee members. Insights from these metrics help the Bank enhance its services and processes, driving improvements in customer experience. The Bank’s focus on customer experience and satisfaction has led to an increase in the NPS for both digital and non-digital channels. The NPS score for non-digital channels increased by 27% compared to last year, achieving the 2025 target. For digital channels, the NPS increased by 17% compared to 2024.

To ensure the highest standards of accessibility, security, and inclusivity, the Bank has policies in place to protect customer information and support equal access for all customers:

Cyber and Information Security Policy: Sets requirements for protecting Riyad Bank’s information assets, focusing on confidentiality, integrity, and availability. The policy applies to all Staff and subsidiaries, mandates compliance with regulatory standards, and outlines roles and responsibilities for managing cyber risks and ensuring ongoing security awareness and training. While each employee and department holds the fundamental responsibility to protect the Bank’s systems and comply with the standards and procedures in place, Management-level oversight is exercised via the Cyber Security Committee. The Board of Directors and Board-level Risk Management Committee provides strategic oversight and approval.
Privacy Notice: Personal data is managed in line with Saudi Personal Data Protection Law; policies cover collection, use, sharing, and safeguarding of information. Customers are informed of their rights
- including access, correction, and consent withdrawal
- and the Bank maintains strict standards of security and compliance in all data handling practices.
Disability Policy: Ensures that individuals with disabilities have equal and barrier-free access to all banking products and services, without discrimination or favoritism. The policy mandates the removal of physical and behavioral barriers, prioritizes respect and independence for persons with disabilities, and requires all Staff to uphold principles of justice and equality. It covers all divisions and subsidiaries, promotes a supportive environment for both customers and employees with disabilities, and provides for specialized training, accessible facilities, and adapted communication to meet diverse needs.

Digitalization

In 2025, Riyad Bank has demonstrated a steadfast commitment to digital transformation as a cornerstone of its ESG strategy, leveraging advanced AI technologies and strategic partnerships to drive operational excellence, customer-centricity, and sustainable growth. This year also marked a defining shift from isolated digital initiatives to a unified, institution-wide operating model, controlled and measured through a digital maturity index, setting the stage for the Bank’s long-term digital ambition.

AI-Driven Efficiencies and Sustainability

Riyad Bank’s adoption of AI-powered solutions has significantly enhanced operational efficiency and environmental sustainability. The ATM Cash Forecast Model, utilizing predictive analytics, optimizes cash replenishment schedules, reducing both operational costs and the carbon footprint associated with logistics. Staff Level Optimization tools dynamically allocate resources based on real-time data, improving service delivery while minimizing waste. The Bank’s 5-Star Digital Segmentation enables tailored customer engagement and supports paperless interactions, directly reducing environmental impact.

Innovative Use Cases for Risk Mitigation and Customer Value

Key AI implementations, such as fraud detection, dynamic product pricing, and SME Smart Sales solutions, harness predictive analytics to boost revenue and efficiency while mitigating risk. The End-of-Relationship Prediction Solution allows the Bank to identify and proactively address customer churn, fostering trust and reinforcing social responsibility.

Strategic Partnerships for Sustainable Growth

Riyad Bank’s collaboration with leading technology companies, including NVIDIA and DataRobot, accelerates the development of Generative AI and Agentic AI solutions. These partnerships empower the Bank to automate workflows, enhance decision-making, and drive innovation across core operations. This year also marked a defining shift from isolated digital initiatives to a unified, institution-wide operating model, controlled and measured through a digital maturity index, setting the stage for the Bank’s long-term digital ambition.

A detailed breakdown of our workforce diversity metrics is provided in the table below.

Total Workforce*

5,532

2024: 5,685

Breakdown by Gender

Females

1,654

2024: 1,644

Males

3,878

2024: 4,041

Breakdown by Nationality**

Saudi Nationals

5,300

2024: 5,474

Non-Saudi Nationals

232

2024: 211

Breakdown by Age

<30< /div>

1,081

2024: 1,163

30-50

4,190

2024: 4,283

>50

261

2024: 239

Inclusion

Number of employees with disability

2024: 56

*The table represents the Bank’s full-time employees

**Breakdown of workforce by nationality is restated for 2024, due to update in methodology used.

Empowering Employees and Customers

The launch of advanced Gen-AI tools, such as the Riyad Bank AI-powered Assistant for HR policies and the CXC AI Assistant Chatbot, streamlines internal processes and content creation, improving operational efficiency and employee experience.

These strategic initiatives have translated into substantial digital adoption across the Bank’s customer base:

In 2025, Riyad Bank reached 72% of New to Bank retail customers onboarded digitally a significant increase from 44% in 2024, reflecting a growth of +63%.

94.3% of total retail financial transactions was executed digitally

Through these initiatives, Riyad Bank is not only enhancing its digital capabilities but also reinforcing its commitment to ESG principles. By integrating cutting-edge AI into its operations, the Bank delivers sustainable value, supports responsible growth, and maintains its position as a leader in Fintech innovation and digital transformation.

Sustainability Governance

Leading with accountability and integrity

Riyad Bank’s sustainability governance framework is designed as a 3-tier structure that ensures strategic oversight and effective implementation of sustainability initiatives across the organization.

The Board Sustainability Committee (BSC) provides top-level strategic oversight of ESG and climate-related risks and opportunities, ensuring they are embedded in the Bank’s business strategy, sustainability KPIs, and disclosures. The Committee is chaired by the Chairman of the Board and ensures that the Bank’s strategic priorities and progress are well-aligned with national and global targets, including Vision 2030. Through its mandate, the BSC drives the integration of sustainability into core decision-making, positioning the Bank to proactively manage emerging risks and capitalize on ESG opportunities, reinforcing long-term resilience and Stakeholder trust

The second tier, the Executive Sustainability Strategy Committee (ESC), is chaired by the CEO and supported by the Chief Transformation Officer as Vice Chairman. The Committee is responsible for the development of the Sustainability strategy, monitoring its implementation and progress against KPIs, and providing updates to the Board and its Sustainability Committee, ensuring seamless governance synergies. It also addresses challenges pertaining to delivery of the Sustainability strategy. Members of the Committee represent all key business and control functions, such as finance, operations, human capital, retail banking, risk, compliance, wholesale banking, digital, corporate banking, and treasury, reflecting enterprise-wide commitment. Meeting at least 5 times annually, the ESC acts as the central forum driving the Bank’s sustainability agenda.

The third tier, is split into two working groups. Sustainability Strategy Working Group and Sustainable Finance Working Group.

The Sustainability Strategy Working Group plays a critical role in Riyad Bank’s sustainability governance by driving the operationalization and continuous improvement of the Bank’s Sustainability strategy. This group is responsible for implementing the approved Sustainability strategy and ensuring that all initiatives are aligned with the Bank’s organizational goals and values. It identifies and recommends best practices and frameworks to strengthen sustainability efforts and regularly reviews progress against objectives, providing updates to relevant Stakeholders and the ESC. The Working Group fosters a culture of continuous improvement by assessing and refining delivery, serves as an advisory body to Senior Management on sustainability requirements, and ensures compliance with regulatory standards and industry best practices. Additionally, it oversees the preparation of transparent and comprehensive ESG disclosures, ensures the accuracy and timeliness of ESG data from all departments, and validates data integrity through robust quality assurance processes. Through these responsibilities, the Working Group ensures effective execution of sustainability priorities and supports the Bank’s long-term ESG commitments.

To further enhance governance and oversight, Riyad Bank has established a permanent Sustainable Finance Working Group, comprised of experienced professionals from across the Bank. Chaired by the Head of Sustainable Finance, this committee is responsible for developing, reviewing, and maintaining the Bank’s sustainable finance framework, ensuring regulatory compliance, overseeing sustainable finance issuances, and monitoring the impact of proceeds. This initiative strengthens transparency and aligns the Bank’s activities with evolving market standards and best practices.

Business Ethics

Riyad Bank is committed to transparency, accountability, and ethical practices through clear frameworks. By maintaining focus on these frameworks, Riyad Bank strengthens its position as a leader in ethical banking.

The integrity and reputation of Riyad Bank depends on the ability to act ethically. The Code of Conduct serves as an important guide for all executive officers and all employees (officials, contractors, and the like), consultants, including employees who work through a third party. The Code of Conduct outlines the ethical principles and standards expected in daily operations. The Bank conducts annual mandatory training sessions on the Code of Conduct and ethical standards for all employees, with 99% of employees completing this training in the reporting year.

Riyad Bank understands that its reputation is a key part of its business and is dedicated to conducting operations according to its own ethical standards. The approach centers on the value provided to customers and Stakeholders, rather than on any gifts or inducements that may be offered or received. To support this, the policy provides clear guidance on the acceptance or provision of gifts, benefits, favors, and entertainment, reinforcing a zero-tolerance stance on bribery and corruption.

A strong Code of Conduct and Business Ethics Policy has been put in place to effectively combat bribery and corruption. This policy outlines clear roles and responsibilities across various Stakeholders, ensuring that anti-corruption measures receive proper oversight. Additionally, the Board of Directors plays an important role in overseeing the implementation of these anti-bribery and corruption measures, along with other relevant policies, to uphold a commitment to ethical business practices.

The Bank’s commitment to ethical conduct is further reinforced by its Whistleblowing Policy, which encourages employees and Stakeholders to report any acts or behaviors that may involve violations of ethical or legal standards. Whistleblowers are assured confidentiality and protection from retaliation, fostering a culture where concerns can be raised in good faith and investigated appropriately.

In addition, Riyad Bank maintains robust policies and controls to prevent financial crime, including Anti-Money Laundering and Counter-Terrorist Financing measures. These policies ensure compliance with local and international regulations, mandate regular Staff training, and establish procedures for detecting, preventing, and reporting suspicious activities.

The Bank also upholds a Conflict-of-Interest Policy to ensure that personal interests do not improperly influence professional judgment or actions. All employees are required to disclose any potential conflicts, and transparent processes are in place to manage and resolve such situations.

Furthermore, the Related Party Transactions Policy ensures that any transactions with related parties are conducted at arm’s length, fully disclosed, and subject to appropriate review and approval processes, thereby safeguarding the interests of the Bank and its Stakeholders.

3-Tier Sustainability Governance Structure

Integration of ESG in Risk

Riyad Bank recognizes the importance of integrating ESG factors into its risk management processes. A dedicated focus on ESG risks is essential for enhancing the Bank’s resilience and ensuring long-term financial stability. The Bank has developed a standalone ESG and Climate Risk Policy which outlines the Bank’s approach to managing ESG-related risks. The Policy is currently under final review prior formal approval.

Sustainability-related risks, particularly climate risks, are financial risks that are cross-cutting and can influence credit, market, operational, liquidity, and reputational risks. The integration of climate risk into the broader Enterprise Risk Management (ERM) framework and risk appetite statement is crucial.

In alignment with global best practices, the Bank has leveraged UNEP FI’s Portfolio Impact Analysis Tool to identify critical sustainability topics relevant to Saudi Arabia. This tool facilitates compliance with the Principles for Responsible Banking (PRB) by focusing on impact materiality.

Riyad Bank has performed a detailed ESG risk materiality assessment to evaluate ESG and climate risks across all relevant risk types. This assessment prioritizes the most material risks and highlights key transmission channels, including credit, market, liquidity, operational, and reputational risks.

The development of a KSA-specific climate risk heatmap is a significant step in identifying and measuring climate-related risks within the portfolio. This tool identifies sectors most exposed to climate risks and informs decision-making. The heatmap assesses both transition risks, linked to the shift towards a lower-carbon economy, and physical risks, associated with the impacts of climate change, such as extreme weather events. The Bank has also conducted exploratory climate scenario analysis to model and integrate the potential financial impacts of climate risks on its corporate credit portfolio. The results of the climate risk assessment inform the Bank’s capital adequacy (ICAAP), liquidity adequacy (ILAAP), and broader strategic planning.

To integrate ESG considerations into credit decision-making and due diligence, the Bank is incorporating ESG risk scorecard into the corporate credit, and project finance assessment processes. Front-line business functions evaluate corporate customers against the Bank’s exclusion and screening criteria, followed by the determination of ESG risk exposure of customer or project, through structured scorecards which is under pilot roll-out and system implementation. The Bank is also integrating ESG risk scorecards as a part of vendor due diligence and onboarding process to assess third parties and vendor relationships.

To ensure that ESG and climate risks are adequately identified, monitored, and managed in the portfolio, the Bank has defined a 3 lines of defense model, with roles and responsibilities of the Board of Directors, Senior Management, business units, and risk control functions clearly defined and communicated in the ESG and Climate Risk Policy.

By proactively assessing and managing ESG risks, Riyad Bank is positioning itself to meet emerging regulatory expectations and align with global sustainability standards. The commitment to integrating ESG factors into risk management processes reflects a dedication to responsible growth and long-term value creation for Stakeholders.

document locations

Environmental, Social and Corporate Governance Review

Riyad Bank’s Sustainability Strategy

Environmental

Social

Governance

Shaping a greener future

Operational and Portfolio Footprint

Operational emissions

Environmental Footprint

Financed Emissions

Sustainable Finance

Red Sea Global

Empowering people,communities, and society

Financial Access and Well-Being

Support MSMEs and Entrepreneurs

Enhance Financial Access and Literacy

Empower Communities

Empower Women

Empower People with Disabilities

Volunteer Participation Rate

Conserve Our Ecosystems

Tree Plantation and Water Conservation

Partnership with Misk Foundation

My Banking Journey Tour

Al-Hajj Initiative

Human Capital

Customers

Digitalization

AI-Driven Efficiencies and Sustainability

Innovative Use Cases for Risk Mitigation and Customer Value

Strategic Partnerships for Sustainable Growth

Empowering Employees and Customers

Leading with accountability and integrity

Business Ethics

3-Tier Sustainability Governance Structure

Integration of ESG in Risk

Environmental, Social and
Corporate Governance Review

Shaping a
greener future

Empowering people,
communities, and society