EXIM Bank says 2022 credit facilities total SAR 13.6 bln

Logo of Saudi Export-Import Bank

The Saudi Export-Import Bank (EXIM Bank) offered SAR 13.58 billion credit facilities in 2022, of which requests for export credit insurance and export financing reached SAR 9 billion and SAR 4.58 billion, respectively.

According to the bank's annual report, the total amount of requests approved in 2022 reached SAR 6.43 billion, with 28 credit facility agreements signed.

The bank contributed nearly 1.2% to the Kingdom's total financing of non-oil exports that reached more than 60 countries, including the US, the UK, China, Sweden, India, France, Pakistan, and many countries in Asia, Africa, Europe, and South America.

The table shows the bank's most prominent financing and credit activities between 2021 and 2022:

Large enterprises accounted for 57% of the total financing requests, while small and medium-sized enterprises (SMEs) dominated nearly 43%.

The food products sector topped the financing requests list, with around 24.5% of the total funding, followed by the iron and steel sector with 10.5%, as shown below:

The major challenges the bank faced in 2022 was unwillingness of some Saudi companies to export on sufficient local demand, according to the report.