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:
|
Most Prominent Financing, Credit Activities in 2021, 2022 |
||
|
Period |
2021 |
2022 |
|
Total amounts of approved requests (SAR bln) |
2.06 |
6.43 |
|
Number of credit facility disbursements |
45 |
122 |
|
Total amounts disbursed (SAR bln) |
1.68 |
4.58 |
|
Number of signed credit facility agreements |
19 |
28 |
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:
|
Financing Requests by Industrial Sector in 2022 |
|
|
Sector |
Percentage |
|
Food products |
24.5% |
|
Iron and steel |
10.5% |
|
Rubber and plastics |
8.4% |
|
Paper products |
7.7% |
|
Pharmaceuticals |
7.5% |
|
Machinery and equipment |
7.4% |
|
Construction |
7.3% |
|
Cables |
6.0% |
|
Cement |
6.0% |
|
Glass |
4.0% |
|
Agriculture and fish farming |
4.0% |
|
Electrical equipment |
3.3% |
|
Services |
2.8% |
|
Petrochemicals |
0.6% |
The major challenges the bank faced in 2022 was unwillingness of some Saudi companies to export on sufficient local demand, according to the report.
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