Individual, corporate mortgages rise to SAR 747.2B in Q3

17/12/2023 Argaam Special
Saudi Arabian banknotes

Saudi Arabian banknotes


Mortgages provided to individuals and corporate clients by commercial banks in Saudi Arabia grew by 13% to around SAR 747.2 billion in Q3 2023, from SAR 662.7 billion in the year-ago period.

 

Individual mortgages, which accounted for 79% of the total, increased by 12% year-on-year (YoY) to nearly SAR 591.7 billion in Q3 2023, updated data from the Saudi Central Bank (SAMA) showed.

 

Meanwhile, mortgages provided to corporate clients reached about SAR 155.5 billion in Q3 2023, rising 17% YoY.

 

Mortgages by Commercial Banks (SAR bln)

Period

Q3 2022

Q3 2023

Change

Individuals

529.6

591.7

+12%

Corporates

133.1

155.5

+17%

Total

662.7

747.2

+13%

 

The following table illustrates mortgages provided by commercial banks since 2018:

 

Mortgages by Commercial Banks Since 2018

Period

Individuals (SAR bln)

Corporates

(SAR bln)

Total

 (SAR bln)

Q1 2018

124.7

92.1

216.8

Q2 2018

128.3

87.3

215.6

Q3 2018

132.1

95.3

227.4

Q4 2018

140.3

98.3

238.5

Q1 2019

150.9

97.1

248.0

Q2 2019

162.5

96.7

259.2

Q3 2019

176.7

99.2

275.9

Q4 2019

198.1

99.3

297.4

Q1 2020

225.1

104.2

329.3

Q2 2020

250.3

109.6

359.9

Q3 2020

279.2

112.9

392.1

Q4 2020

315.2

113.2

428.4

Q1 2021

358.0

116.5

474.5

Q2 2021

384.7

118.1

502.7

Q3 2021

412.6

120.9

533.5

Q4 2021

445.8

123.1

568.9

Q1 2022

476.2

129.4

605.5

Q2 2022

503.2

135.0

638.3

Q3 2022

529.6

133.1

662.7

Q4 2022

549.8

138.1

687.8

Q1 2023

566.9

139.1

706.0

Q2 2023

582.4

148.9

731.3

Q3 2023

591.7

155.5

747.2

 
Total Mortgage Loans (SAR bln) - Individuals + Corporate
 

According to SAMA, consumer loans declined by 1% YoY to SAR 444.4 billion during the three-month period.

 

Consumer loans include renovation and real estate improvement loans, car loans, as well as loans for personal transportation, education, healthcare, tourism, travel, furniture, durable goods, among others.

 

The following table shows consumer loans since 2018:

 

Consumer Loans*

Period

Home renovation

(SAR bln)

Transport, furniture, education, healthcare & tourism
(SAR bln)

Others

(SAR bln)

Total

(SAR bln)

Q1 2018

28.65

31.92

254.79

315.35

Q2 2018

27.61

31.74

257.47

316.83

Q3 2018

26.74

31.70

269.59

328.03

Q4 2018

28.06

34.00

259.23

321.29

Q1 2019

27.16

33.38

258.71

319.25

Q2 2019

26.15

32.70

260.03

318.88

Q3 2019

25.58

32.17

264.56

322.31

Q4 2019

25.65

32.34

275.45

333.44

Q1 2020

25.70

32.81

277.14

335.65

Q2 2020

25.27

32.98

277.52

335.77

Q3 2020

25.46

33.60

293.21

352.26

Q4 2020

23.87

31.77

309.61

365.25

Q1 2021

23.79

33.65

322.10

379.54

Q2 2021

22.20

33.82

338.16

394.18

Q3 2021

20.34

34.22

357.11

411.67

Q4 2021

19.06

32.71

376.62

428.40

Q1 2022

16.48

28.49

391.55

436.52

Q2 2022

15.23

28.26

402.27

445.75

Q3 2022

14.27

27.75

406.12

448.14

Q4 2022

13.44

27.43

410.69

451.55

Q1 2023

12.59

27.24

408.13

447.95

Q2 2023

11.80

26.96

405.20

443.95

Q3 2023

11.26

27.50

405.68

444.45

*Excluding mortgages, financing lease and funding granted for stock trading.

 

Personal consumer Loans (SAR bln)

Source: Argaam Tools

 

Credit card loans rose 20% YoY to SAR 26.5 billion in the same period, as follows:

 

Credit Card Loans Since 2018 (SAR bln)

Period

Total (SAR bln)

Q1 2018

12.71

Q2 2018

14.02

Q3 2018

14.95

Q4 2018

15.33

Q1 2019

15.63

Q2 2019

16.72

Q3 2019

18.28

Q4 2019

19.05

Q1 2020

20.29

Q2 2020

20.08

Q3 2020

20.56

Q4 2020

18.37

Q1 2021

17.76

Q2 2021

18.20

Q3 2021

19.19

Q4 2021

19.49

Q1 2022

19.60

Q2 2022

20.54

Q3 2022

22.12

Q4 2022

23.07

Q1 2023

23.55

Q2 2023

24.91

Q3 2023

26.49

 

Credit Card Loans (SAR bln)

Source: Argaam Tools

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