Enhancing customer experience. Always with you.

In 2023, Retail Banking shone in the face of a challenging business environment characterized by unprecedented high interest rates. The Division overcame suppressed credit growth and stressed margins to increase its deposit base and achieve double-digit growth in consumer loans.

Retail Banking stepped up as an even stronger contributor to Riyad Bank’s bottom line this year, contributing to 35% of the Bank’s overall net loans and advances.

SAR 614 Mn.

10%

32%

Empowering our corporate partners. Always with you

Corporate Banking repeated its stellar strategic execution in 2023 to deliver outstanding value for our clients leading to exceptional results. The Division stepped up to opportunities, ranging from micro, small, and medium enterprises (MSMEs) to giga projects, and accelerated digital transformation and innovation to deliver another year of record-breaking growth.

Corporate Banking assets increased by 15% in 2023 from SAR 162 Bn. to SAR 186 Bn. Total operating income amounted to SAR 8.4 Bn., a dramatic improvement of 32% compared to SAR 6.4 Bn. in 2022. Net special commission income increased by 38% year on year to SAR 6.6 Bn., while fees and other income increased by 13% to SAR 1.8 Bn.

The Corporate Banking Division helped Riyad Bank to take home several awards and recognitions in 2023. These included:

• First ranking for the Kafalah MSME Finance Guarantee program in terms of value of financing, guarantees, and beneficiary enterprises.
• The Global Trade Review Saudi Arabia 2023 ‘Sustainability in Trade’ Award.
• Project Finance Institute (PFI) ‘Middle East and Africa Utility Deal of the Year’ for serving as mandate lead arranger and
  other agency roles for the USD 1.33 Bn. Red Sea Development Company utility project.
• PFI ‘Middle East and Africa Public-Private Partnership Deal of the Year’ for serving as mandate lead arranger, onshore
  security agent, and onshore bank account for 3 independent sewage treatment plants in Madinah that raised USD 700 Mn.
• PFI ‘Middle East and Africa Public-Private Partnership Deal of the Year’ for serving as coordinator, bookrunner, mandated lead arranger, onshore bank account, and an agency role for NEOM Helios, the first major international project for green hydrogen, worth USD 7 Bn.