Banque Saudi Fransi’s share in housing finance market rise to 3.1%, growing: CEO

Rayan Fayez, CEO of Banque Saudi Fransi, said the bank's share in the housing finance market stands at 3.1 percent, compared to 1.9 percent at the beginning of 2018.

The bank's market share is to grow further, he told Al Arabiya, noting that BSF is increasing its share in the housing finance market every month, due to a boost in its retail business.

The banking sector faces several challenges, including a slowdown in the corporate segment due to the market challenges, which is expected to overcome with the announced projects that will drive growth in the coming period, he said.

Many megaprojects in the Kingdom have gone beyond the development stage and are now in the implementation phase, which will raise the demand for borrowing either directly from those projects or through sub-projects.