comparison between Rajhi Bank (Saudi Arabia) and Chase Bank (U.S.A) Case Solution
Section 1: General Introduction
Chase bank was known as Chase Manhattan Bank, the bank got merged with J.P Morgan & Co. in 2000. Now Chase bank is known as the subsidiary of JPMorgan Chase. The bank is providing services of consumer and commercial banking. Manhattan bank was also a product which was formed by the merger of Chase national bank and bank of Manhattan Company in 1955. The bank having headquartered in Columbus, Ohio. After the merger with Bank One Corporation, the bank acquired many assets of Washington Mutual.
The number of branches of Chase bank is more than 5100 nationwide. They provide 16,100 ATM’s nationwide to provide different services. The operations that the bank carries are more than 100 countries. The bank has 235,678 employees (as of 2015).
Chase bank is considered as one of the big four banks that are providing financial services in U.S. The financial services provided by the bank are personal banking, credit card services, investment advice, auto financing, small business loans etc. The bank is focused on providing consumer financing to small and medium enterprises in the US, the consumer services provided by the bank includes card services and retail financial services.
The investment services are also provided by the bank including hedge bank under the name of J.P Morgan & Co. The bank is also providing conventional banking services to a wide range of customers throughout U.S. furthermore, the bank also provides services of asset management, financial transaction processing, and many other financial services.
Al Rajhi Bank is a Saudi Arabian leading retail and commercial bank. The bank belongs to the Rajhi Family of Saudi Rich Family founded by four brothers in 1957. Rajhi bank is aninternational group having assets of SAR307 billion rounds ($80 billion). On another hand, the bank has amarket capital of SAR 15 billion around($4 billion). The bank has been employing more than 9,000 associates over its vast network of 492 branches across the Saudi Arabia and aboard.
The bank works in multiple segments of the market to achieve growth, and diversified revenues by serving multiple market segments, like retail, commercial, investment market, and even more broad to thecorporate sector as well. However, the bank has astrong base in retail segments. Because, it has 3,505 ATM’s, and 26,972 POS units around the Saudi Arabia.
This enables thebank to allow customers shop debit or credit card. Meanwhile, the Bank also has been developing the different programs, and projects with focused towards the new electronic services, providing many investment products like e-banking, investment advice, and capital or assets management, and research services as well.
On the other hand, thebank has expansion plans for the future, for example; it has expanded to Malaysia and Amman. Similarly, thebank has thepotential for growth. Because the bank has been offering numerous products, and services and tries to fulfill the gap of more flexible and realistic approach to meet the customers’ requirements through the fully Islamic compliant products. Thus, the distinctive competency of the bank would lead to huge growth in Saudi Arabia and around the world. Because the Islamic products and services are more flexible thanthe conventional bank’s offerings in the market.
Section 2: History
Chase bank was founded by Aaron Burr in 1799, soon it was famous by the name of The Manhattan Bank furthermore after some years around 1955 made a partnership with Chase National Bank. Bank start its services with their best and was famous all over the United States for their services in loans, deposits, and other banking solutions. Meanwhile, Chase bank merged with JP Morgan & Co. Bank offered his customers best services, furthermore in the meanwhile they have one of the largest hedge funds in the United States leading more than 100 countries worldwide. Chase bank continued their part in thebanking industry which was introduced in 1799.
Al Rajhi Bank
Al Rajhi bank was founded by the Suleiman Al Rajhi a billionaire belonging to the Al Rajhi family of Saudi Arabia. The bank initially formed as the Islamic financial services with the exchange of money, which late resulted in Al Rajhi Trading and Exchange Corporation in 1978. However, later in 1987, it was formed as joint stock holding company of the Saudi Arabia with the name of Al Rajhi banking & Investment corporation. Furthermore, it was again rebranded in 2006 as Al Rajhi bank, and was listed on Saudi Arabia Stock Exchange (Tadawul).
 Abdullah, Saleh, Suleiman, and Mohamed
 Saudi Arabian Riyal
 Retrieved from Al Rajhi Bank Website
 The Bank has branches in Malaysia, Amman, and Kuwait
 Islamic Compliant refers to the products and services under the Islamic rules, and regulations that strictly prohibit the all forms of usury (Interest)……………………
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