In 2018, Al Rajhi Bank managed to generate a total operating income of SAR 17.3 billion that was an increase of almost 9% of that achieved in 2017. In the same time, Al Rajhi Bank also managed to increase its net income to almost SAR 10.3 billion which was an increase by 4% of that achieved in 2017. In addition, the net income to the total operating income increased to reach almost 60%. Furthermore, the total assets of Al Rajhi Bank increased by 6% compared to 2017 in which it reached SAR 365 billion. This increase was attributed to the increase of Due from Banks & Other Financial Institutions account which was almost SAR 11 billion in 2017 and reached almost SAR 31 billion in 2018. It is worth noting that the Customers’ Deposits also increased from SAR 273 billion in 2017 and reached SAR 294 billion in 2018. Additionally, the capital structure of Al Rajhi Bank is 13% Equity and 87% Liabilities in 2018. Moreover, the cash ratio of Al Rajhi Bank decrease to 117%, while its total equity to total assets and total equity to total deposits also decreased to 13% and 17% respectively in 2018. It is worth mentioning that Al Rajhi Bank has lent 80% of its customers’ deposits which is a considerable decrease compared to 86% of that in 2017. This is due to the increase of the total customers’ deposits of around SAR 20 billion. Lastly, Al-Rajhi Bank successfully managed to distribute dividends for the fifth consecutive year in which the total dividends to total deposits was still around 1%.

1. Financial Analysis of Al-Rajhi Bank - KSA
TARIQ AL-BASHA 1
WEDNESDAY, MARCH 27, 2019

2. Financial Analysis of Al-Rajhi Bank - KSA
TARIQ AL-BASHA 2
Contents
EXECUTIVE SUMMARY................................................................................................................................................................................................... 3
SELECTED RATIOS ............................................................................................................................................................................................................. 4
HORIZONTAL ANALYSIS...................................................................................................................................................................................................... 5
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (“BALANCE SHEET”) ....................................................................................................................... 5
CONSOLIDATED STATEMENT OF INCOME (“PROFIT & LOSS STATEMENT”) ........................................................................................................................ 6
VERTICAL ANALYSIS........................................................................................................................................................................................................... 7
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (“BALANCE SHEET”) ....................................................................................................................... 7
CONSOLIDATED STATEMENT OF INCOME (“PROFIT & LOSS STATEMENT”) ........................................................................................................................ 8
FINANCIAL STATEMENTS .................................................................................................................................................................................................... 9
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (“BALANCE SHEET”) ....................................................................................................................... 9
CONSOLIDATED STATEMENT OF INCOME (“PROFIT & LOSS STATEMENT”) ...................................................................................................................... 10

3. Financial Analysis of Al-Rajhi Bank - KSA
TARIQ AL-BASHA 3
EXECUTIVE SUMMARY
In 2018, Al Rajhi Bank managed to generate a total operating income of SAR 17.3 billion that was an increase of almost 9% of that achieved in
2017. In the same time, Al Rajhi Bank also managed to increase its net income to almost SAR 10.3 billion which was an increase by 4% of that
achieved in 2017. In addition, the net income to the total operating income increased to reach almost 60%.
Furthermore, the total assets of Al Rajhi Bank increased by 6% compared to 2017 in which it reached SAR 365 billion. This increase was attributed
to the increase of Due from Banks & Other Financial Institutions account which was almost SAR 11 billion in 2017 and reached almost SAR 31 billion
in 2018. It is worth noting that the Customers’ Deposits also increased from SAR 273 billion in 2017 and reached SAR 294 billion in 2018. Additionally,
the capital structure of Al Rajhi Bank is 13% Equity and 87% Liabilities in 2018.
Moreover, the cash ratio of Al Rajhi Bank decrease to 117%, while its total equity to total assets and total equity to total deposits also decreased
to 13% and 17% respectively in 2018. It is worth mentioning that Al Rajhi Bank has lent 80% of its customers’ deposits which is a considerable
decrease compared to 86% of that in 2017. This is due to the increase of the total customers’ deposits of around SAR 20 billion.
Lastly, Al-Rajhi Bank successfully managed to distribute dividends for the fifth consecutive year in which the total dividends to total deposits was
still around 1%.

4. Financial Analysis of Al-Rajhi Bank - KSA
TARIQ AL-BASHA 4
SELECTED RATIOS
Entry 2014 2015 2016 2017 2018
Ratios
Cash Ratio 116% 116% 116% 118% 117%
Indicator N/A Increase Increase Increase Decrease
Total Equity/Total Assets 14% 15% 15% 16% 13%
Indicator N/A Increase Increase Increase Decrease
Total Equity/Total Deposits 16% 18% 19% 20% 17%
Indicator N/A Increase Increase Increase Decrease
Total Loans/Total Deposits 80% 82% 83% 86% 80%
Indicator N/A Increase Increase Increase Decrease
Total Dividends/Total Deposits 1% 1% 1% 1% 1%
Indicator N/A Increase Decrease Increase Decrease
Net Profit (Loss)/Total Deposits 3% 3% 3% 3% 4%
Indicator N/A Increase Increase Increase Increase
Total Deposits/Total Assets 83% 82% 80% 80% 81%
Indicator N/A Decrease Decrease Decrease Increase

5. Financial Analysis of Al-Rajhi Bank - KSA
TARIQ AL-BASHA 5
HORIZONTAL ANALYSIS
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (“BALANCE SHEET”)
Entry 2014 2015 2016 2017 2018
Assets
Horizontal
Analysis
Horizontal
Analysis
Horizontal
Analysis
Horizontal
Analysis
Horizontal
Analysis
Cash & Balances with Saudi Arabian Monetary Authority ("SAMA") & Other
Central Banks
-19% 56% 15% -10%
Due from Banks & Other Financial Institutions 63% -1% -60% 188%
Investment, Net -6% -15% 7% 18%
Financing, Net 2% 7% 4% 0%
Property & Equipment, Net 16% 16% 21% 13%
Investment Properties, Net -1% -1% -1%
Other Assets, Net 8% -11% 21% -28%
Total Assets 3% 8% 1% 6%
Liabilities
Due to Banks & Other Financial Institutions 113% 96% -38% 32%
Customers' Deposits 1% 6% 0% 8%
Other Liabilities -13% -5% 40% 74%
Total Liabilities 1% 7% 0% 10%
Shareholders' Equity
Share Capital 0% 0% 0% 0%
Statutory Reserve 0% 0% 0% 0%
Other Reserves 15% 59% 11% -107%
Retained Earnings 79% 41% 14% -8%
Proposed Dividends or/and Zakat 26% -2% 67% -10%
Total Shareholders' Equity 11% 11% 7% -13%
Total Liabilities & Shareholders' Equity 3% 8% 1% 6%

6. Financial Analysis of Al-Rajhi Bank - KSA
TARIQ AL-BASHA 6
CONSOLIDATED STATEMENT OF INCOME (“PROFIT & LOSS STATEMENT”)
Entry 2014 2015 2016 2017 2018
Income
Horizontal
Analysis
Horizontal
Analysis
Horizontal
Analysis
Horizontal
Analysis
Horizontal
Analysis
Gross Financing & Investment Income 0% 15% 7% 9%
Return on Customers', Banks', & Financial Institutions' Time
Investments
-24% 76% 4% -8%
Net Financing & Investments Income 1% 13% 7% 10%
Fee from Banking Services, Net -1% 9% -9% 15%
Exchange Income, Net 3% -6% -9% -10%
Other Operating Income -35% 136% 38% -38%
Total Operating Income 1% 12% 4% 9%
Expenses
Salaries & Employees' Related Benefits 6% 8% -2% 0%
Rent & Premises Related Expenses -5% 14% 12% 1%
Depreciation & Amortization -9% 11% 6% 0%
Other General & Administrative Expenses 4% 4% 16% 15%
Impairment Charge for Financing & Other Financial Assets, Net -15% 9% -28% -1%
Impairment Charge for Available-For-Sale Investments -100%
Board of Directors' Remuneration -100%
Total Operating Expenses -3% 9% -6% 4%
Net Income (Loss) for The Year 4% 14% 12% 13%

7. Financial Analysis of Al-Rajhi Bank - KSA
TARIQ AL-BASHA 7
VERTICAL ANALYSIS
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (“BALANCE SHEET”)
Entry 2014 2015 2016 2017 2018
Assets
Vertical
Analysis
Vertical
Analysis
Vertical
Analysis
Vertical
Analysis
Vertical
Analysis
Cash & Balances with Saudi Arabian Monetary Authority ("SAMA") & Other Central
Banks
11% 9% 12% 14% 12%
Due from Banks & Other Financial Institutions 5% 9% 8% 3% 8%
Investment, Net 14% 13% 10% 11% 12%
Financing, Net 67% 67% 66% 68% 64%
Property & Equipment, Net 2% 2% 2% 2% 2%
Investment Properties, Net 0% 0% 0% 0% 0%
Other Assets, Net 1% 1% 1% 1% 1%
Total Assets 100% 100% 100% 100% 100%
Liabilities
Due to Banks & Other Financial Institutions 1% 1% 3% 2% 2%
Customers' Deposits 83% 82% 80% 80% 81%
Other Liabilities 2% 2% 2% 3% 4%
Total Liabilities 86% 85% 85% 84% 87%
Shareholders' Equity
Share Capital 5% 5% 5% 5% 4%
Statutory Reserve 5% 5% 5% 5% 4%
Other Reserves 1% 1% 1% 2% 0%
Retained Earnings 2% 3% 4% 4% 3%
Proposed Dividends or/and Zakat 1% 1% 1% 1% 1%
Total Shareholders' Equity 14% 15% 15% 16% 13%
Total Liabilities & Shareholders' Equity 100% 100% 100% 100% 100%

8. Financial Analysis of Al-Rajhi Bank - KSA
TARIQ AL-BASHA 8
CONSOLIDATED STATEMENT OF INCOME (“PROFIT & LOSS STATEMENT”)
Entry 2014 2015 2016 2017 2018
Income Vertical Analysis Vertical Analysis Vertical Analysis Vertical Analysis Vertical Analysis
Gross Financing & Investment Income 75% 75% 77% 79% 79%
Return on Customers', Banks', & Financial Institutions' Time Investments -3% -2% -3% -3% -3%
Net Financing & Investments Income 72% 72% 73% 76% 77%
Fee from Banking Services, Net 20% 20% 19% 17% 18%
Exchange Income, Net 7% 7% 6% 5% 4%
Other Operating Income 1% 1% 2% 2% 1%
Total Operating Income 100% 100% 100% 100% 100%
Expenses
Salaries & Employees' Related Benefits -18% -19% -19% -18% -16%
Rent & Premises Related Expenses -2% -2% -2% -2% -2%
Depreciation & Amortization -3% -3% -3% -3% -3%
Other General & Administrative Expenses -10% -10% -9% -11% -11%
Impairment Charge for Financing & Other Financial Assets, Net -17% -14% -14% -10% -9%
Impairment Charge for Available-For-Sale Investments 0% 0% 0% 0% 0%
Board of Directors' Remuneration 0% 0% 0% 0% 0%
Total Operating Expenses -50% -48% -47% -43% -41%
Net Income (Loss) for Th Year 50% 52% 53% 57% 59%

9. Financial Analysis of Al-Rajhi Bank - KSA
TARIQ AL-BASHA 9
FINANCIAL STATEMENTS
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (“BALANCE SHEET”)
Entry 2014 2015 2016 2017 2018
Assets SAR'000 SAR'000 SAR'000 SAR'000 SAR'000
Cash & Balances with Saudi Arabian Monetary Authority ("SAMA") & Other Central Banks 33,585,377 27,053,716 42,149,905 48,282,471 43,246,043
Due from Banks & Other Financial Institutions 16,516,208 26,911,056 26,578,525 10,709,795 30,808,011
Investment, Net 42,549,623 39,876,864 34,032,879 36,401,092 43,062,565
Financing, Net 205,939,960 210,217,868 224,994,124 233,535,573 234,062,789
Property & Equipment, Net 4,813,941 5,578,931 6,485,162 7,858,127 8,897,587
Investment Properties, Net - 1,350,000 1,330,868 1,314,006 1,297,590
Other Assets, Net 4,306,446 4,631,213 4,140,354 5,015,464 3,629,245
Total Assets 307,711,555 315,619,648 339,711,817 343,116,528 365,003,830
Liabilities
Due to Banks & Other Financial Institutions 2,135,237 4,558,224 8,916,970 5,522,567 7,289,624
Customers' Deposits 256,077,047 257,821,641 272,593,136 273,056,445 293,909,125
Other Liabilities 7,603,077 6,600,729 6,254,839 8,786,598 15,251,063
Total Liabilities 265,815,361 268,980,594 287,764,945 287,365,610 316,449,812
Shareholders' Equity
Share Capital 16,250,000 16,250,000 16,250,000 16,250,000 16,250,000
Statutory Reserve 16,250,000 16,250,000 16,250,000 16,250,000 16,250,000
Other Reserves 2,598,599 2,997,754 4,773,362 5,281,682 (349,555)
Retained Earnings 4,828,845 8,666,300 12,236,010 13,906,736 12,747,323
Proposed Dividends or/and Zakat 1,968,750 2,475,000 2,437,500 4,062,500 3,656,250
Total Shareholders' Equity 41,896,194 46,639,054 51,946,872 55,750,918 48,554,018
Total Liabilities & Shareholders' Equity 307,711,555 315,619,648 339,711,817 343,116,528 365,003,830

10. Financial Analysis of Al-Rajhi Bank - KSA
TARIQ AL-BASHA 10
CONSOLIDATED STATEMENT OF INCOME (“PROFIT & LOSS STATEMENT”)
Entry 2014 2015 2016 2017 2018
Income SAR'000 SAR'000 SAR'000 SAR'000 SAR'000
Gross Financing & Investment Income 10,212,518 10,258,380 11,751,445 12,581,004 13,759,457
Return on Customers', Banks', & Financial Institutions' Time Investments (395,198) (299,438) (528,358) (551,587) (506,724)
Net Financing & Investments Income 9,817,320 9,958,942 11,223,087 12,029,417 13,252,733
Fee from Banking Services, Net 2,738,465 2,704,091 2,949,963 2,697,208 3,101,286
Exchange Income, Net 952,056 979,566 925,286 841,839 755,804
Other Operating Income 159,133 103,176 243,044 336,390 209,695
Total Operating Income 13,666,974 13,745,775 15,341,380 15,904,854 17,319,518
Expenses
Salaries & Employees' Related Benefits (2,514,103) (2,661,043) (2,873,687) (2,813,918) (2,809,449)
Rent & Premises Related Expenses (257,033) (243,718) (277,179) (311,015) (314,567)
Depreciation & Amortization (412,716) (374,099) (415,595) (440,566) (442,171)
Other General & Administrative Expenses (1,330,328) (1,378,815) (1,440,794) (1,671,052) (1,925,518)
Impairment Charge for Financing & Other Financial Assets, Net (2,312,179) (1,958,025) (2,142,242) (1,547,577) (1,530,946)
Impairment Charge for Available-For-Sale Investments - - (65,923) - -
Board of Directors' Remuneration (4,443) - - - -
Total Operating Expenses (6,830,802) (6,615,700) (7,215,420) (6,784,128) (7,022,651)
Net Income (Loss) for Th Year 6,836,172 7,130,075 8,125,960 9,120,726 10,296,867