Operating
Review
Our new digital platform empowers customers with a seamless, personalized experience, reflecting our commitment to innovation and setting a new standard for convenience and connectivity in banking.
In June 2024, the revamped Riyad Mobile application was launched, marking a significant milestone in the Bank's digital transformation journey.
Private Banking grew NIB deposits by 7.8%, improved customer satisfaction, and launched the "Beyond Banking" slogan.
15%
improvement in Net Special CommissionThe Corporate Banking Division sustained strong momentum in 2024, achieving remarkable results and promoting synergies across the Bank’s business units. Its targeted transformation and innovation initiatives were key drivers of the Bank’s impressive growth in net income.
Riyad Bank earned multiple awards and recognitions in 2024 with support from the Corporate Banking Division. These included:
- JPMorgan’s “Elite Quality Recognition” Award for outstanding achievement of best-in-class MT103 and MT202, related to payment efficiency.
- “Best Innovation in Trade Finance” from MEA Finance for implementation of machine learning in trade operations.
- Ranked #1 in terms of number of entities financed by all participants (banks and non-banks) with Kafalah.
- “Outstanding Performance”, “Tourism Sector Award”, and “New SMEs Award” from Kafalah.
- “Best Bank for SMEs in the Middle East” Award from EMEA Finance Magazine.
- “Best Bank for SMEs in Saudi Arabia” from Euromoney.
Corporate Banking earned
of Riyad Bank's total income
Riyad Bank held a
market share in MSME financing within Saudi Arabia by the end of the third quarter
Riyad Bank has committed
of its balance sheet to key sectors
Corporate Banking continued to be a strategic partner in advancing the Kingdom's Vision 2030 objectives.
The Treasury and Investment Division remained the key contributor to the Bank’s bottom line. Despite the challenging market environment, it efficiently managed the Bank’s liquidity and proprietary investments, and provided a wide range of innovative financial solutions to the Bank’s customers.
Winner of the Financial Institutions Bond Deal of the Year
USD 750 Mn.
Treasury and Investment contributed
to the Bank's net income
Riyad Bank's market share in fee income grew by
Treasury and Investment expanded its contribution to non-fund-based income for the Bank to
Treasury and Investment has achieved a significant milestone in 2024 with the successful issuance of a USD 750 Mn. Additional Tier 1 (AT1) Sustainable Sukuk.
Riyad Bank’s subsidiaries play a vital role in driving its strategic ambitions and delivering value across key areas of its operations, from investment management and digital innovation to real estate, and human resources. Each subsidiary reflects the Bank’s unwavering commitment to excellence, innovation, and sustainability, enhancing its ability to meet the needs of its clients and support Saudi Arabia’s Vision 2030.
Riyad Capital
Riyad Capital continues to solidify its position as a leading, fully-fledged investment manager, offering a comprehensive suite of services across asset and wealth management, brokerage, corporate investment banking, and securities services. The Company oversees assets under management $ 93.8 Bn. (approximately USD 25 Bn.) and holds $ 832 Bn. (approximately USD 222 Bn.) in assets under custody.
Jeel Digital Innovation Company
“Towards a More Innovative and Inspiring Future” The year 2024 was pivotal for Jeel as it witnessed significant developments in its journey toward achieving its vision of fostering innovation and providing technological solutions that contribute to building a sustainable future. The company focused on enhancing digital transformation, ensuring compliance with regulatory requirements, and expanding strategic partnerships. Additionally, it implemented innovative programs that reflect its commitment to supporting the growth of the local and regional market and achieving a sustainable positive impact.
Investor Relations Department
Address: Al Shuhada District Eastern Ring Road, Granada Oasis – A1 Tower
P.O. Box 22622, Riyadh 11416 Saudi Arabia. Email: investor.relations@riyadbank.com