Established in 1957, alrajhi bank served more than 15.8 million active customers through 545 branches, including the branches outside Saudi Arabia, as of December 2023. It employs 20,878 people. In April 2023, the bank issued its first U.S.-dollar sukuk, a $1 billion five-year sustainable sukuk. The bank recorded total assets worth $215.5 billion as of December 2023, with a net profit of $4.4 billion. In March 2023, PIF’s Saudi Real Estate Refinance Company signed a deal with alrajhi bank to refinance more than $1.3 billion in a real estate financing portfolio. In March 2024, alrajhi bank joined the Buna platform to enhance its payment solutions.