Sustainability Strategy and ESG Framework
Our Sustainability Transformation
In 2023, Riyad Bank maintained its focus and commitment to expanding and enhancing our market-leading Corporate Social Responsibility (CSR) strategy and initiatives, which cover a wide range of Environmental, Social, and Governance (ESG) areas. We understand that sustainability and ESG are central to the future of our Bank, enabling us to maintain our position as a force for positive and continuous improvement in our sector while supporting the goals and ambitions of our Stakeholders and the Kingdom of Saudi Arabia.
Aligning With National and Global Sustainability Goals
Saudi Arabia’s Vision 2030
Riyad Bank is fully dedicated to the realization of Saudi Arabia’s Vision 2030. Our commitment aligns with our responsibility to the Kingdom, reflecting our eagerness to invigorate the national economy and diversify its revenue streams for future growth.
United Nations Sustainable Development Goals (UNSDGs)
Guided by our sustainability framework and long-term aspirations, we are accelerating our efforts to align with the UNSDGs. This commitment is in harmony with our alignment with the UN Global Compact principles. We have strategically prioritized 14 of the 17 SDGs where we believe our efforts can make a profound and meaningful impact.
Empowering SMEs
SMEs and entrepreneurs play a crucial role in fostering innovation and driving economic growth. These entities serve as significant contributors to job creation, both within the Kingdom and globally. Despite their pivotal role, SMEs frequently encounter challenges such as limited access to finance and existing products, or services to meet their specific needs. In 2023, Riyad Bank signed a number of agreements to support their ambitions.
Protecting the Environment for Current and Future Generations
Riyad Bank is not only environmentally conscious but also proactive. From organizing tree planting events where thousands of trees were planted, to initiating recycling campaigns, and pledging to plant trees for every goal scored by Al-Hilal, the Bank’s green initiatives were both diverse and impactful.
Supporting Our Society
Riyad Bank is a responsible business committed to the wellbeing of the people of Saudi Arabia. We believe our ability to create sustainable value is linked to the prosperity of the communities in which we operate and that of society at large. Riyad Bank has developed a comprehensive Bukra CSR strategy that outlines our key priorities for social investment.
This strategy is aligned with Saudi Vision 2030 and the UN SDGs and guided by local and global best practice.
Prioritizing Our People
With a workforce exceeding 5,900 full-time Staff members at Riyad Bank, our commitment to sustainable development has always prioritized inclusivity for employees. Recognizing that employees form the heartbeat of our organization, their journey with us stands as the cornerstone of our operations and our ability to create value. Our unwavering dedication is geared towards being the best employer possible, aligning with our objective to become the Bank of Choice for employees by 2025.
| 2023 | 2022 | |
|---|---|---|
| Total workforce (excluding trainees, students) | 5,915 | 5,593 |
| Full-time employees | 5,915 | 5,593 |
| Senior Management employees | 277 | 233 |
| Middle Management employees | 1,866 | 1,660 |
| Non-Management employees (Staff) | 3,772 | 3,700 |
| Number of nationalities | 25 | 25 |
| Female employees | 1,697 | 1,591 |
| Female employees in middle Management | 469 | 440 |
| Female employees in senior Management | 27 | 21 |
| Male employees | 3,993 | 3,763 |
| Saudi National employees | 5,690 | 5,354 |
