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Enriching Lives Through Financial Wellbeing

ANNUAL REPORT

2024

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Our year in
numbers

Financial Highlights 2024

In ()

Total assets

148,906

Million

Total Liabilities

131,704

Million

Net Financing

96,912

Million

Customer deposits

108,187

Million

Total equity

13,327

Million

Total Operating income

3,779

Million

Net income before Zakat and income tax

1,405

Million

Net income after Zakat and income tax

1,231

Million

Total Assets

Total liabilities

Net Financing

Customer deposits

Total equity

Return on average shareholder’s equity (%)

Net income before zakat and income tax

Net income after zakat and income tax

Our purpose
and values

Our Purpose

Enriching lives through
financial wellbeing

Our Values

We innovate for the Future...
We succeed through Partnership

Strategy overview

Bank AlJazira’s strategy is to be a dynamic and resilient boutique bank, prioritizing mobile first and digital capabilities. We are building a strong mid-tier corporate franchise, enhancing our appeal to affluent retail customers, and leading in wealth management, supported by Treasury operations. With 42 strategic initiatives set for completion during the five-year timeline of the refreshed strategy, we are on an ambitious path to achieve a more resilient and profitable performance.

A dynamic and resilient boutique bank,
prioritizing mobile first and digital capabilities.

The Refreshed Strategy

Where are we heading?

A boutique bank with upside potential
A mobile first, digitally enabled bank that blends the physical and digital worlds
A dynamic and resilient bank in a transforming world, built on innovation & partnership
Long-term stability and profitability for our shareholders

Business Lines Vision

Corporate

Segment and sector focused, growing assets fueled by robust mid-tier corporate franchise with a growing contribution from the MSME segment.

Retail

Bank-of-choice for affluent customers and high net worth individuals with a comprehensive value proposition that is digitally enabled.

AlJazira Capital

Leading wealth management house in Saudi Arabia.

Treasury

Core partner for business growth and enablement.

Awards and Accolades

Genesys Next Generation Award 2024

Best Customer Service Practices for Next Generation: Following Highest international standards and system in Customer Service.

From: Genesys/LEAP 2024

Outstanding Online Security Measures Award 2024

Upholding Highest Standard of Security and Services for customers

From: Saudi Banking Conference 2024

Excellence Award in the Corporate Governance Index 2024

Bank ranks among the top five financial sector companies in Saudi Stock Exchange(Tadawul), demonstrating strong corporate governance and regulatory compliance.

From: Alfaisal University

STP Award 2024

Achieving Exceptional Rate of 99% in Straight Through Payments (STP) Processing through USD account.

From: Citibank (USD Clearing Bank)

Best Modern Data Infrastructure in the Middle East 2024

Outstanding progress in data transformation, affirming our strategic commitment to leverage data for impactful outcome.

From: Cloudera

Consumer Finance Product of the Year – Auto Lease 2024

Reflecting our commitment to excellence in providing financial solutions enhancing customer satisfaction and loyalty.

From: The Digital Banker

Innovation by Retail Bank 2024

This is a testament to our dedication to pushing boundaries and creating truly innovative products and services for our customers.

From: The Digital Banker

Excellence in Mobile Banking 2024

This prestigious award recognize Bank AlJazira's commitment to delivering innovative, user-friendly mobile banking solutions that empower customers.

From: Finnovax Awards – Saudi Arabia

Best Customer Experience Award - Digital Banking Channe

Reflecting excellence of our digital banking channels and continuous focus on customer through all stages of development.

From: MEA Finance

Best Workplace Environment 2024

Testament of Bank AlJazira’s remarkable culture transformation journey, which is built on four key cornerstones – execution, innovation, growth, and unity.

From: International Finance Awards

Best Strategic Partnership Initiative for Empowering Tech Startups 2024

This award recognizes Bank AlJazira commitment to fostering innovation and supporting the next generation of tech leaders.

From: Global Business Outlook Awards

Corporate Social Responsibility Award in the Arab Countries 2024

Recognizing Bank AlJazira pioneering role in social responsibility through various programs that aim to develop community and support non-profit sector in according with Kingdom Vision 2030.

From: Regional Network for Social Responsibility

Chairman’s Statement

2024 proved to be a foundational year for Bank AlJazira. The successful execution of a bold and ambitious strategy has resulted in the emergence of a strong, innovative and successful financial institution with a highly promising future.

Engr. Tarek Othman Al-Kasabi

Chairman of the Board of Directors,
Bank AlJazira

CEO and Managing Director Statement

As we look back on 2024, I am proud of the meaningful progress Bank AlJazira has made in advancing its strategic objectives, positioning the Bank for a new era of growth, success, and shared prosperity. This year has been defined by execution, validation, and significant milestones, reflecting the transformative impact of the strategy, we launched at the start of the year.

Mr. Naif A. Al Abdulkareem

CEO & Managing Director
Bank AlJazira

Enriching Lives Through Financial Wellbeing

ANNUAL REPORT

2024

Our year in numbers

Financial Highlights 2024

In ()

Total assets

148,906

Million

Total Liabilities

131,704

Million

Net Financing

96,912

Million

Customer deposits

108,187

Million

Total equity

13,327

Million

Total Operating income

3,779

Million

Net income before Zakat and income tax

1,405

Million

Net income after Zakat and income tax

1,231

Million

Total Assets

Total liabilities

Net Financing

Customer deposits

Total equity

Return on average shareholder’s equity (%)

Net income before zakat and income tax

Net income after zakat and income tax

Our purpose and values

Our Purpose

Our Values

Strategy overview

A dynamic and resilient boutique bank, prioritizing mobile first and digital capabilities.

The Refreshed Strategy

Business Lines Vision

Corporate

Segment and sector focused, growing assets fueled by robust mid-tier corporate franchise with a growing contribution from the MSME segment.

Retail

Bank-of-choice for affluent customers and high net worth individuals with a comprehensive value proposition that is digitally enabled.

AlJazira Capital

Leading wealth management house in Saudi Arabia.

Treasury

Core partner for business growth and enablement.

Awards and Accolades

Genesys Next Generation Award 2024

Best Customer Service Practices for Next Generation: Following Highest international standards and system in Customer Service.

From: Genesys/LEAP 2024

Outstanding Online Security Measures Award 2024

Upholding Highest Standard of Security and Services for customers

From: Saudi Banking Conference 2024

Excellence Award in the Corporate Governance Index 2024

Bank ranks among the top five financial sector companies in Saudi Stock Exchange(Tadawul), demonstrating strong corporate governance and regulatory compliance.

From: Alfaisal University

STP Award 2024

Achieving Exceptional Rate of 99% in Straight Through Payments (STP) Processing through USD account.

From: Citibank (USD Clearing Bank)

Best Modern Data Infrastructure in the Middle East 2024

Outstanding progress in data transformation, affirming our strategic commitment to leverage data for impactful outcome.

From: Cloudera

Consumer Finance Product of the Year – Auto Lease 2024

Reflecting our commitment to excellence in providing financial solutions enhancing customer satisfaction and loyalty.

From: The Digital Banker

Innovation by Retail Bank 2024

This is a testament to our dedication to pushing boundaries and creating truly innovative products and services for our customers.

From: The Digital Banker

Excellence in Mobile Banking 2024

This prestigious award recognize Bank AlJazira's commitment to delivering innovative, user-friendly mobile banking solutions that empower customers.

From: Finnovax Awards – Saudi Arabia

Best Customer Experience Award - Digital Banking Channe

Reflecting excellence of our digital banking channels and continuous focus on customer through all stages of development.

Our year in
numbers

Our purpose
and values

A dynamic and resilient boutique bank,
prioritizing mobile first and digital capabilities.