S. Arabia’s assets up by 13% – SAMA report

Saudi Arabia’s paid-up share capital for the finance sector companies increased by 6 per cent to SAR 15.5 billion. Additionally, total assets also experienced a significant uptick, growing by 13 per cent to SAR 64.2 billion. Similarly, the total finance portfolio expanded by 12 per cent, reaching SAR 84.7 billion.

This surge underscores the sector’s resilience and attractiveness to investors, signalling a positive outlook for the Kingdom’s economy. Furthermore, the report highlights the remarkable performance of the real estate refinancing sector, with total assets soaring by an impressive 48 per cent to SAR 31 billion.

An analysis of the loan portfolio distribution reveals that the retail sector holds the largest share at 77 per cent, followed by the Micro, Small, and Medium Enterprises (MSME) sector at 20 per cent, and the corporate sector at 3 per cent.

These findings underscore the sector’s pivotal role in driving economic growth and stability in Saudi Arabia. With continued momentum and strategic investments, the finance sector is poised to further propel the Kingdom’s economic development in the coming years.

Attribution:  The Saudi Central Bank (SAMA) Annual Performance Report of the Saudi Finance and Real Estate Refinance Companies Sector for the year 2023.