Strategy

Strategy
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Strategy
and KPIs
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Amidst a rapidly evolving banking landscape, both within the Kingdom and around the world, Riyad Bank has proven to be strategically agile and responsive. The ongoing technological disruption and increasingly competitive landscape, amplified and accelerated by the impact of COVID-19 on our people, operations and customers, has catalyzed a strategic shift for the Bank.

Building on the success of the Bank’s strategy to transform the core engine, as well as our firm commitment to support and align with Saudi Vision 2030, we refreshed our 5-year strategy for 2021-2025. This customer-centric strategy will guide the Bank’s growth and innovation over the coming years, with the ultimate ambition to become the best bank in the Kingdom.

Our Strategic Drivers

Our strategy will accelerate the Bank’s growth and innovation, unlocking value in new and existing segments through innovative products and services while driving continuous improvement in customer experience and service.

Value through innovation

Creating new markets through digital eco-systems, disrupting me-too propositions, integrating Advanced Analytics into BAU

Efficiency through digitization

Improve organization productivity including front to back digitization

Enablement through next gen operating model

Transforming core technology infrastructure and operating model through agility

Our Strategic Pillars

Strategic
Pillar

Most Profitable

Most Efficient

Digitally Enabled

Bank of Choice

Pillar
Description

We aim to be the most profitable bank in the Kingdom amongst top peers

We aim to be the most efficiently and effectively run bank in the Kingdom amongst top peers

We aim to be the most modern, innovative and digitally enabled bank in the Kingdom

We aim to be the Kingdom’s bank of choice for both customers and employees

How we
measure success

Various profitability ratios

Cost to Income Ratio

Various Digital ratios

NPS and Organizational Health Index

2021
Achievements

  • 14.7% RoAE (3rd in KSA)

  • 2.1% RoAA (2nd in KSA)

  • 13.6% Net loans and advances increased

  • Approximately SAR 200 Mn in cost savings in 2021, through cost saving initiatives

  • 34.4% cost to income ratio

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

  • Over 82% of our customers have enrolled for digital services

  • 75% NPS score

  • 27% female employment

  • Best Working Environment for Women (Best Place to Work Organization)

  • Best Employer Brand Award for 2nd year in a row from Global Business Outlook

  • Best Bank for SMEs (Asia Money Excellence Award)

  • 75% in customer satisfaction index from Saudi Central Bank