Year in Review

Operating Review
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Year in
Review 2021
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In a year of strategic execution and accelerating growth, Riyad Bank realised a number of important milestones and achievements, on our journey to be the Bank of Choice in the Kingdom.

Transformation
2025

JANUARY

  • New phase of our Transformation 2025 Strategy activated to create value through innovation, enablement through next gen operating model and efficiency through digitization

Support
and motivate

MARCH

  • MoC and Agency Agreement signed with National Companies Promotion Program (NCPP) to support and motivate large and promising Saudi companies
  • Collaboration Agreement signed with National Industrial Development and Logistics Program (NIDLP) to enable businesses in the industrial and logistics sector

Participation in the Red Sea

Programs with (TDF)

 

  • SAR 2.95 Bn participation in the Red Sea Development’s syndicated facility
  • 3 programs (Agency, 100% and 90%) signed with Tourism Development Fund (TDF)

WSL platform and program for Open Innovation

JUNE

  • Sales Unit thats fully dedicated to better serve the bank’s ultra High Net-worth individuals
  • The bank pioneered Open Innovation in the region by being the first to launch WSL, a platform and a program to support innovation and lead on open banking.
  • Collaboration Agreement signed with SPARK to develop future initiatives for the present

Digitally active
banking

SEPTEMBER

  • More than 70% of new to bank clients acquired digitally

New
Initiatives

NOVEMBER

  • MoU signed with Desert Technologies to support green and renewable banking projects
  • MoU signed with Umm Al Qura Development and Construction to develop MASAR Business Center
  • 2 Initiatives worth SAR 6 Bn launched with NIDLP to support and localize products manufacturing

Sukuk
Program

FEBRUARY

  • SAR 10 Bn Sukuk Program established, with first tranche of SAR 3 Bn issued in February and oversubscribed 1.9x

Token
for kids

APRIL

  • Token, the Kingdom’s first mobile banking and financial literacy platform for kids, launched to teach children healthy banking and money practices
  • Agreement to purchase a tower at King Abdullah Financial District to become the permanent headquarters of Riyad Bank

SAR 2 Bn
tourism projects

MAY

  • Tourism Partners Program launched with Tourism Development Fund (TDF) with financing of up to SAR 2 Bn to support tourism projects

Corporate real estate sector

JULY

  • MoU signed with Developers Services Center (ETMAM) to enable businesses in the real estate sector

AUGUST

  • 2 Mn total Riyad Bank customers reached
  • MoU signed with Cultural Development Fund (CDF) to enable businesses in the cultural sector

MoU with Roshn

Sports center

OCTOBER

  • MoU with Roshn, a Saudi community developer powered by PIF, to finance Roshn units
  • SAR 1.5 Mn agreement with Association of Al-Wafa Oasis signed to fund a sports center for the elderly
  • Economic Research Department established under Finance with strengthened capabilities to deliver value for the Bank and its stakeholders

25% YOY
growth

DECEMBER

  • Riyad Bank’s Brand Value surpassed US Dollar 1.236 Bn for the first time on 25% YOY growth, while Brand Rating also improved from AA- to AA