Founded in 1957, alrajhi bank is one of the largest banks in the world by market cap and the largest in the Middle East and Saudi Arabia, with total assets of SAR 801 billion, a paid up capital of SAR 40 billion (US$ 10.66 billion) Finance and an employee base of around 20,000+ associates. With over 60 years of experience in banking and trading activities, the various individual establishments under the alrajhi name were merged into the umbrella 'Al Rajhi trading and exchange corporation' in 1978 and it was in 1988 that the bank was established as a Saudi joint stock company under the name of alrajhi Banking and Investment Corporation which later in 2006 was named as alrajhi bank. Alrajhi bank has a well-established base in the Kingdom of Saudi Arabia through a wide network that includes more than 511 branches, more than 4,603 ATMs, and more than 585K points of sale with merchants and the largest customer base of any bank in the Kingdom, in addition to 159 remittance centers throughout the Kingdom.