Retail, corporate mortgages surge to SAR 817B in Q2 2024

10/09/2024 Argaam Special
Saudi Arabian banknotes

Saudi Arabian banknotes


Mortgages provided to individuals and corporate clients by commercial banks in Saudi Arabia grew 12% to around SAR 816.8 billion in Q2 2024, from SAR 731.3 billion in the year-ago period.

 

For more details on real estate mortgages

 

Retail mortgages, which accounted for 79% of the total, increased 10% year-on-year (YoY) to nearly SAR 641.7 billion in Q2 2024, updated data from the Saudi Central Bank (SAMA) showed.

 

Meanwhile, mortgages provided to corporate clients reached about SAR 175.1 billion in Q2 2024, rising 18% YoY.

 

Breakdown of Mortgages Provided by Commercial Banks (SAR bln)​

Period

Q2 2023

Q2 2024

Change

Individuals

582.3

641.7

+10%

Corporates

148.9

175.1

+18%

Total

731.3

816.8

+12%

 

The following table illustrates mortgages provided by commercial banks in Saudi Arabia since 2019:

 

Development in Mortgages Provided by Commercial Banks​

Period

Individuals

(SAR bln)

Corporates

(SAR bln)

Total

(SAR bln)

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

533.4

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

139.0

706.0

Q2 2023

582.4

148.9

731.3

Q3 2023

591.7

155.5

747.2

Q4 2023

607.2

160.0

767.3

Q1 2024

625.2

175.2

800.5

Q2 2024

641.7

175.1

816.8

 

According to SAMA, consumer loans rose 2% YoY to SAR 452.3 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 development in consumer loans since 2019:

 

Consumer Loans (SAR bln)*​

Period

Renovation & home improvement

Transport, furniture, education, health & tourism

Others

Total

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

Q4 2023

10.79

28.09

402.95

441.83

Q1 2024

10.58

29.23

411.07

450.89

Q2 2024

10.11

29.28

412.93

452.32

*Excluding real estate financing, financing leasing and margin stock lending.
 

Credit card loans added 21% YoY to SAR 30.04 billion in the second quarter of this year, as follows:

 

Credit Card Loans Since 2019 (SAR bln)

Period

Total

(SAR bln)

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

Q4 2023

27.07

Q1 2024

27.25

Q2 2024

30.04

 

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