About Riyad Bank
Riyad Bank offers a range of banking and investment services. The company offers investment services to its customers, which include management of certain investment funds. It also provides non-conventional banking products to its customers, which are approved and supervised by an independent Shariah Board established by the bank. The company offers various deposits, such as demand, savings, time and others. The company offers commercial loans (include consumer mortgage loans) and commercial loans. It also offers overdrafts and credit cards. The company operates through a network of branches in the Kingdom of Saudi Arabia, the United Kingdom, the United States, and a representative office in Singapore. Riyad Capital engages in investment services and asset management activities related to dealing, managing, arranging, advising and custody of securities regulated by the Capital Market Authority in the Kingdom of Saudi Arabia. Ithra Al-Riyad Real Estate Company formed with the objective to hold, manage, sell and purchase real estate assets for owners or third parties for financing activities in the Kingdom of Saudi Arabia. Riyad Company for Insurance Agency acts as an agent for selling insurance products owned and managed by another principal insurance company in the Kingdom of Saudi Arabia. In addition to the conventional banking, the company offers its customers certain non-conventional banking products, which are approved by its Shariah Board. These products include Murabaha, Tawaruq and Ijara. Murabaha is an agreement whereby the company sells to a customer a commodity or an asset, which the company has purchased and acquired based on a promise received from the customer to buy. Ijarah is an agreement whereby the company, acting as a lessor, purchases or constructs an asset for lease according to the customer request (lessee), based on his promise to lease the asset for an agreed rent and specific period that could end by transferring the ownership of the leased asset to the lessee. Tawaruq is a form of Murabaha transactions where the company purchases a commodity and sells it to the customer. The customer sells the underlying commodity at spot and uses the proceeds for his financing requirements. Segments The company operates through Retail Banking; Investment Banking and Brokerage; Corporate Banking; and Treasury and Investments segments. Retail Banking This segment offers deposits, credit and investment products for individuals and small to medium sized businesses. Investment Banking and Brokerage This segment offers investment management services and asset management activities related to dealing, managing, arranging, advising and custody of securities. Corporate Banking This segment principally handling corporate customers' current accounts, deposits and providing loans, overdrafts and other credit facilities. Treasury and Investments This segment principally providing money market, trading and treasury services, derivative products, as well as the management of the company's investment portfolios. History Riyad Bank was founded in 1957. The company was incorporated in 1957.
