Established in 1957, alrajhi bank had over 16.5 million customers across 534 branches and employed over 21,000 people as of March 2024. 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 April 2023, the bank issued its first USD sukuk, a $1 billion five-year sustainable sukuk. In March 2024, alrajhi bank joined the Buna platform to enhance its payment solutions.