MSMEs obtain SAR 293.4B credit facilities in Q1 2024

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Credit facilities extended to micro, small and medium enterprises (MSMEs) in Saudi Arabia rose by 16% year-on-year (YoY) to almost SAR 293.4 billion in Q1 2024, data from the Saudi Central Bank (SAMA) showed.

 

The following table shows development in credit facilities provided to MSMEs from banks and financing companies:

 

Total Credit Facilities Provided to MSMEs (SAR bln)

Change

2024

2023

Period*

+16%

293.4

252.2

Q1

--

--

262.7

Q2

--

--

268.6

Q3

--

--

275.6

Q4
*Data is periodically updated.

 

Banks accounted for SAR 275.73 billion worth of credit facilities, or 94% of the total. Facilities provided by financing firms stood at SAR 17.70 billion, or 6% of the total.

 

The table below indicates details of credit facilities provided to MSMEs by sector in which the lenders operate:

 

Credit Facilities Extended to MSMEs (SAR bln)

Total

Financing Institutions

Banking Sector

Period*

95.68

7.83

87.84

Q1 2018

101.26

7.66

93.60

Q2 2018

106.68

7.68

99.00

Q3 2018

108.52

7.76

100.76

Q4 2018

113.17

8.15

105.02

Q1 2019

113.03

7.87

105.16

Q2 2019

115.61

8.75

106.86

Q3 2019

117.35

9.38

107.97

Q4 2019

134.84

9.68

125.16

Q1 2020

158.04

10.64

147.40

Q2 2020

175.74

10.75

164.99

Q3 2020

182.24

11.89

170.35

Q4 2020

188.43

12.97

175.46

Q1 2021

198.22

13.46

184.76

Q2 2021

200.37

14.16

186.22

Q3 2021

203.23

14.64

188.59

Q4 2021

218.68

15.27

203.41

Q1 2022

221.00

15.39

205.61

Q2 2022

228.03

15.47

212.57

Q3 2022

229.03

15.81

213.23

Q4 2022

252.23

17.28

234.95

Q1 2023

262.67

17.31

245.34

Q2 2023

268.57

16.93

251.64

Q3 2023

275.58

17.28

258.30

Q4 2023

293.43

17.70

275.73

Q1 2024
*Data is periodically updated.

 

Medium enterprises accounted for SAR 153.74 billion (56%) of Saudi banks' facilities, while small enterprises held around SAR 95.19 billion in the first quarter of the year, as shown below:

 

Facilities Extended from Banking Sector (SAR bln)

Total

Medium

Small

Micro

Enterprise

87.84

61.62

22.01

4.22

Q1 2018

93.60

69.10

20.82

3.69

Q2 2018

99.00

73.22

21.80

3.97

Q3 2018

100.76

74.76

22.31

3.70

Q4 2018

105.02

79.17

22.98

2.87

Q1 2019

105.16

79.44

23.11

2.61

Q2 2019

106.86

80.84

22.97

3.05

Q3 2019

107.97

81.44

23.01

3.53

Q4 2019

125.16

93.92

27.47

3.78

Q1 2020

147.40

110.80

31.28

5.33

Q2 2020

164.99

121.54

37.26

6.20

Q3 2020

170.35

123.26

39.92

7.18

Q4 2020

175.46

127.45

39.67

8.34

Q1 2021

184.76

132.11

44.18

8.47

Q2 2021

186.22

129.99

45.08

11.14

Q3 2021

188.59

128.64

50.59

9.37

Q4 2021

203.41

135.54

54.04

13.83

Q1 2022

205.61

134.88

55.78

14.94

Q2 2022

212.57

136.64

61.55

14.37

Q3 2022

213.23

132.97

65.08

15.18

Q4 2022

234.95

145.09

70.25

19.62

Q1 2023

245.34

149.43

75.70

20.21

Q2 2023

251.64

152.42

77.87

21.35

Q3 2022

258.30

151.89

84.09

22.32

Q4 2023

275.73

153.74

95.19

26.80

Q1 2024
 

Small enterprises accounted for SAR 8.26 billion of financing firms’ facilities in Q1 2024, with medium enterprises garnering around SAR 6.85 billion in the same period.

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