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A look at business portfolios, NPLs of finance firms in Saudi Arabia by 2021-end
Saudi Arabian banknotes
Saudi Arabia has 48 finance firms licensed by the Saudi Central Bank (SAMA), including three companies listed on the Saudi Exchange (Tadawul) - Saudi Home Loans Co. (SHL), Amlak International for Real Estate Finance Co. and Nayifat Finance Co.
These companies’ activities cover mortgage loans, finance lease, consumer finance, credit card financing, small and medium enterprises (SMEs) finance, asset finance, microfinance, debt crowdfunding, collection servicing and financial lease contract registry.
The following table shows SAMA-licensed finance providers in Saudi Arabia:
|
SAMA-Licensed Financing Firms |
||
|
Company |
Business Activities |
Listed/Unlisted |
|
Saudi Home Loans Co. (SHL) |
Mortgage Loans |
Listed |
|
Amlak International for Real Estate Finance Co. |
Mortgage Loans |
Listed |
|
Nayifat Finance Co. |
Consumer Finance- Finance Lease, SMEs Finance, Credit Card Financing |
Listed |
|
Dar Al Tamleek |
Mortgage Loans |
Unlisted |
|
Deutsche Gulf Finance |
Mortgage Loans |
Unlisted |
|
Bedaya Mortgage Finance Co. |
Mortgage Loans |
Unlisted |
|
Abdul Latif Jameel – Real Estate Finance |
Mortgage Loans |
Unlisted |
|
Saudi Real Estate Refinance Company (SRC) |
Real Estate Refinance |
Unlisted |
|
Yanal Finance Company |
Finance Lease- SMEs Finance- |
Unlisted |
|
Al Yusr Leasing & Financing |
Consumer Finance- Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
AJIL – Financial Services |
Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
National Finance |
Consumer Finance- Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Murabaha Marena Financing Co. |
Consumer Finance- Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Kirnaf Finance |
Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Al Jasriah Finance |
Consumer Finance- Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Matager Finance |
Consumer Finance, SMEs Finance, Asset Finance |
Unlisted |
|
Saudi Finance Co. |
Consumer Finance, Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Abdul Latif Jameel –Finance |
Consumer Finance, Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Alkhalij Tamweel |
Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Tamwily |
Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Alamthal Finance |
Consumer Finance, Finance Lease, SMEs Finance |
Unlisted |
|
Osoul Modern Finance |
Finance Lease, SMEs Finance |
Unlisted |
|
Dar Al Etiman |
Consumer Finance, Finance Lease, SMEs Finance |
Unlisted |
|
Tawkelat Finance |
Consumer Finance, Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Ijarah Finance |
Consumer Finance, Finance Lease |
Unlisted |
|
Tayseer Finance |
Consumer Finance, Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Saudi Fransi Leasing |
Consumer Finance- Finance Lease |
Unlisted |
|
Tamweel AlOula |
Consumer Finance, Finance Lease, Asset Finance |
Unlisted |
|
American Express Saudi Arabia |
Credit Card Financing |
Unlisted |
|
AlJabr Finance |
Consumer Finance, Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
AlRaedah |
Finance Lease, SMEs Finance |
Unlisted |
|
Raya Financing |
Consumer Finance, Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Mutalabah |
Debt Collection Servicing |
Unlisted |
|
Quara Finance |
Consumer Finance, Finance Lease, SMEs Finance |
Unlisted |
|
Taajeer Finance |
Consumer Finance, Finance Lease, SMEs Finance |
Unlisted |
|
Gulf Lifting Financial Leasing Company |
Finance Lease, SMEs Finance |
Unlisted |
|
Bab Rizq Jameel Microfinance |
Consumer Microfinance |
Unlisted |
|
United Company for Financial Services (Tasheel Finance) |
Consumer Finance- Credit Card Financing |
Unlisted |
|
Emkan Finance |
Consumer Finance- Finance Lease, SMEs Finance, Asset Finance |
Unlisted |
|
Tamam Financing |
Consumer Microfinance |
Unlisted |
|
National Finance House Company |
Consumer Finance- Finance Lease, SMEs Finance |
Unlisted |
|
Saudi Financial Lease Contract Registry Company (SIJIL) |
Registration of Finance Lease Contracts |
Unlisted |
|
Tawtheeq Financial Registration |
Registration of Finance Lease Contracts |
Unlisted |
|
National Financing Services Co. |
Debt Collection Servicing |
Unlisted |
|
Marsoom Co. (Sadad) |
Debt Collection Servicing |
Unlisted |
|
Lendo Invoice Financing |
Debt Crowdfunding |
Unlisted |
|
finZey Finance |
Consumer Microfinance |
Unlisted |
|
Sulfah |
Fitech -Consumer Microfinance |
Unlisted |
These companies have a combined business portfolio of SAR 68.12 billion by the end of 2021, 37.6% of which are run by mortgage lenders, while the remaining 62.4% by finance providers, according to data compiled by SAMA.
The industry annual report for 2021 indicated that these firms’ non-performing loans (NPLs) stood at 8.6% last year, with 4.9% for mortgage lenders and 10.1% for non-mortgage lenders.
|
Financing Firms’ NPLs, Business Portfolio |
||
|
Sector |
Financing Portfolio (SAR bln) |
NPLs (%) |
|
Mortgage Lenders |
25.63 |
4.9% |
|
Non-Mortgage Lenders |
42.49 |
10.1% |
|
Sector Total Companies |
68.12 |
8.6% |
As for the funded business activities, NPLs at the real estate housing sector stood at 4.1% by the end of 2021, while the credit portfolio reached SAR 22 billion.
The vehicle funding’s NPLs amounted to 12%, while the business credit portfolio was valued at SAR 18.5 billion.
Funded activities included commercial properties, consumer finance, equipment, credit cards, with a default rate of 1.4% -29%.
|
NPLs to Credit Portfolio by Activity by 2021-end |
||
|
Activity |
Credit Portfolio (SAR bln) |
NPLs |
|
Real Estate Housing |
22.0 |
4.1% |
|
Vehicles |
18.5 |
12% |
|
Consumer Finance |
14.5 |
6.9% |
|
Commercial Properties |
4.3 |
7.8% |
|
Equipment |
1.7 |
28.9% |
|
Credit Cards |
0.8 |
1.4% |
|
Other |
6.4 |
8.0% |
The corporate segment has a delinquency rate of 21%, while retailers reported a default rate of 6.8%.
|
NPLs to Credit Portfolio By Segment by 2021-end |
|
|
Segment |
NPLs % |
|
Corporate |
21% |
|
MSMEs |
10.8% |
|
Retail |
6.8% |
In terms of monthly income, those earning SAR 5,000 or less reported a delinquency rate of 18.4%, while those earning SAR 5,001- SAR 10,000 have a default rate of 8.5%.
|
NPLs to Credit Portfolio by individual monthly income by 2021-end |
|
|
Monthly Income (SAR) |
Delinquency Rate |
|
SAR 5,000 or less |
18.4% |
|
SAR 5001- 10,000 |
8.5% |
|
SAR 10,001 – 15,000 |
4.1% |
|
SAR 15,001- 20,000 |
2.9% |
|
Above 20,000 |
4.8% |
NPLs accounted for 11.1% of the total loans arranged for those running private businesses, and 9.1% of total loans for those working in the private sector.
|
NPLs to Credit Portfolio by Job by 2021-end |
|
|
Job |
NPLs |
|
Private Business |
11.1% |
|
Private Sector |
9.1% |
|
Public Sector |
4.9% |
|
Pensioners |
2.3% |
As for the age bracket, those aged less than 30 years reported the highest delinquency rate.
|
NPLs to Credit Portfolio by Age Bracket by 2021-end |
|
|
Age |
NPLs |
|
Less than 30 years |
11.7% |
|
Above 30-Less than 50 years |
5.7% |
|
Above 50-Less than 60 years |
5.0% |
|
Above 60 years |
3.7% |
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