Al Rajhi Banking and Investment : Alrajhi Bank wins the Best Investor Relations Program Award for 2021

Al Rajhi Bank won the Best Investor Relations Program Award as part of the Saudi Capital Market Awards for the year 2021 launched by Tadawul and announced at the Saudi Capital Market Forum that was held on Tuesday. This took place under the patronage of His Excellency Mr. Mohammed ElKuwaiz, Chairman of the Capital Market Authority, and in the presence of His Excellency Dr. Fahad Almubarak and Eng. Khalid Al-Hussan, CEO of Saudi Tadawul Group.

The award was received on behalf of the Bank by Mr. Abdulrahman Al Fadda, CFO and in the presence of the Investor Relations team of the Bank.

On this occasion, Mr. Abdulrahman Al Fadda, CFO of Al Rajhi Bank, said: "We are pleased, at Al Rajhi Bank, to win the award for the Best Investor Relations Program for the year 2021, and to maintain our superior position in this field for the second year in a row, as the Bank had previously won this award for the year 2020."

He added that the Bank has continued to implement innovative ideas to serve the strategic goals and improve the communication with investors and shareholders with absolute transparency, a consistent approach the Bank has adopted since its first launch over sixty years ago.

Al Fadda also affirmed the Bank's commitment to participate in achieving Vision 2030 goals and objectives by actively contributing to the development of a diversified and vital financial sector, to support the development of the national economy, diversify its sources of income, and stimulate savings, financing, and investment. All of which will materialize through the development and deepening of financial institutions and the development of the Saudi Stock Exchange to form an advanced financial market to maintain the stability and strength of the financial sector.

Al Rajhi Bank continues to achieve global milestone, as today it is among the largest 15 banks in the world and the largest in MENA region in terms of market capitalization, which amounted to SAR 388 billion (USD 103 billion) by the closing price as on 22nd March 2022.

The financial and digital developments and the growth rates achieved by the Bank have attracted foreign investors, as the percentage of their ownership of the Bank's shares exceeded 13 percent, making it one of the largest companies listed in the Saudi Exchange Market in terms of foreign ownership to contribute to increasing foreign investments in the Kingdom, which is one of the goals of Vision 2030.

The Bank's local and international achievements were achieved under the leadership of national talents who contributed through the Bank's values and vision to move forward and achieve new accomplishments that are not only at the local level but also regional and global levels. Thus benefiting from the remarkable and continuous development of the financial system in Saudi Arabia and the fruitful cooperation with the regulatory authorities; in the forefront of which is the Saudi Central Bank, which was the main supporter and catalyst for attaining these achievements.

Recently, Al Rajhi Bank launched its new identity, capitalizing on being a leading bank in the region to create a financial eco-system in a way that meets the prosperous future of the human being under the name "UNBANK THE BANK".

It is noteworthy to mention that the Saudi Stock Exchange Awards for the year 2021 was presented in partnership with the CFA Society of Saudi Arabia and the Middle East Investor Relations Association, during which members of both associations contributed to the evaluation of qualified participants represented by independent arbitration committees.