Latest news with #AbdullahAlRajhi
Argaam
3 days ago
- Business
- Argaam
alrajhi bank recognized for SAR 44 million contribution to Autism Center of Excellence
Under the patronage of His Excellency the Governor of the Saudi Central Bank, Mr. Ayman Alsayari, the Autism Center of Excellence (ACE) honored alrajhi bank —represented by Chairman Mr. Abdullah bin Sulaiman Al Rajhi—for its SAR 44 million contribution to the establishment and operation of the center over a five-year period. This recognition reflects the bank's unwavering commitment to social responsibility and inclusive development. The award was presented during a ceremony held on Wednesday, May 28, celebrating the completion of the ACE project. Speaking on the occasion, Mr. Abdullah Al Rajhi said, 'Our support for the Autism Center of Excellence stems from a deep belief in the vital role of the private sector in community engagement. We are proud to work alongside all relevant stakeholders and contribute to our wise leadership's efforts to deliver world-class care for individuals with autism spectrum disorder across the Kingdom.' He also extended his gratitude to the Ministry of Human Resources and Social Development and the Saudi Central Bank for championing the initiative to establish the Autism Center of Excellence, adding, 'With praise to Allah and the dedicated efforts of the ACE team, the Kingdom is now home to one of the largest and most advanced autism centers in the Middle East—positively impacting over 500,000 individuals with autism in Saudi Arabia.' Mr. Al Rajhi further acknowledged the center's team for their exceptional work in supporting individuals with autism and their families through specialized services including rehabilitation, research, professional training, family assistance, and vocational programs. He emphasized that ACE has become a national benchmark for autism care and service excellence. Established in 2019 under the sponsorship of the Ministry of Human Resources and Social Development and Saudi banks through the Saudi Central Bank, the Autism Center of Excellence serves individuals with autism and related developmental disorders. The center is dedicated to enhancing quality of life and elevating the standards of rehabilitation care across the Kingdom. alrajhi bank's support of ACE is part of its broader commitment to sustainable development and social impact. The bank has championed various healthcare initiatives, including the establishment of alrajhi medical centers, funding 91 kidney transplants, and contributing to the "Nation of Giving" campaign during the COVID-19 pandemic. In education, the bank launched the "Orphan Education Sponsorship Program," covering tuition fees for 200 students annually. It also contributed SAR 80 million to the King Saud University Endowment and SAR 20 million to the King Fahd University of Petroleum and Minerals Endowment. In the housing sector, alrajhi bank partnered with the Developmental Housing Program to build 222 homes for families in need. In recognition of these impactful efforts, alrajhi bank received first place in the 'Gold Category for Social Responsibility Practices' awarded by the Ministry of Human Resources and Social Development.
Argaam
29-01-2025
- Business
- Argaam
Abdullah Al Rajhi: Alrajhi Bank Achieves 19% Growth with Net Profits of 19,722 Million SAR in 2024
Mr. Abdullah bin Sulaiman Al Rajhi, Chairman of the Board of Directors of alrajhi bank, announced that the bank achieved net profits of 19,722 million Saudi Riyals for the year 2024, reflecting a growth rate of 19% compared to 16,621 million Riyals in 2023. Total operating income reached 32,055 million SAR, with a growth of 16%, driven by increased net financing and investment income, as well as higher banking service fees. These results highlight the bank's successful execution of its strategies for sustainable growth and financial performance. Abdullah Al Rajhi noted that shareholders' equity rose to 123 billion SAR, marking an increase of 15% compared to 107 billion SAR in 2023. Total assets grew by 21% to reach 974 billion SAR, fueled by a 17% increase in the financing portfolio and a 31% rise in the investment portfolio. Customer deposits also expanded by 10%, totaling 628 billion SAR. Additionally, the bank achieved a return on assets of 2.3%, a return on shareholders' equity of 21.1%, and earnings per share of 4.67 SAR. Non-performing financing coverage also remained robust reaching around 160%. Abdullah Al Rajhi added that the bank continues to excel in the field of digital services, as he considers innovation an essential part of the bank's strategy, as alrajhi bank recorded more than one billion logins to its applications during 2024, with a 22% increase in the number of new customers via mobile phones. The bank recorded a 23% increase in card issuance, and exceeded more than 10 million international transfers. In addition, the bank witnessed a 29% increase in opening accounts online. On the bank's community service initiatives, Abdullah Al Rajhi emphasized the continued success of the 'Alrajhi Bank Educational Orphan Care Program,' now in its third year. The program supports over 200 students across 28 private Saudi universities in disciplines such as medicine, engineering, cybersecurity, and law. The 'National Community Initiative for Kidney Transplantation' also achieved significant milestones, completing 77 kidney transplants in its third year, with plans to reach 91 by year-end. Meanwhile, the Alrajhi Bank Cardiac Catheterization Center at Al Rass General Hospital successfully conducted 100 procedures since its launch in late 2024. Additionally, the bank has strengthened its support for healthcare by deploying mobile blood donation vehicles to over 50 locations in Riyadh and Medina, facilitating donations from more than 6,000 individuals. Abdullah Al Rajhi concluded by reaffirming the bank's commitment to supporting Vision 2030, playing a pivotal role in the Kingdom's economic progress, and consistently enhancing customer trust and experience. By prioritizing innovation and customer-focused solutions, alrajhi bank remains dedicated to addressing the evolving needs of its customers while staying true to its core values.
