THE MIDDLE EAST’S

1. alrajhi bank
Country: Saudi Arabia
Managing Director & CEO: Waleed Abdullah Al-Mogbel
Market Value: $105.6 billion
alrajhi bank served 18.5 million customers across 550 branches in Saudi Arabia, Jordan, Kuwait, and Malaysia, as of December 2024. In September 2024, the bank acquired a 65% stake in the Saudi financial app (Drahim). In January 2025, alrajhi bank signed a $666.7 million financing agreement with Tatweer and issued a $1.5 billion USD-denominated additional Tier 1 capital sustainable sukuk. In 2024, the bank’s net income increased by 18.7% to $5.3 billion, an all-time high for the bank, and total assets grew by 20.6% to $259.8 billion.