By the end of 2023, financial facilities provided to small and medium-sized enterprises (SMEs) and micro-enterprises in Saudi Arabia from the banking sector and financing companies have climbed to approximately SAR 275.7 billion. This represents a 20% increase compared to the year 2022.
According to data released by the Saudi Central Bank (SAMA), financing from the banking sector amounted to SAR 258.3 billion, accounting for 94% of the total facilities. Meanwhile, financing companies contributed SAR 17.4 billion, which is equivalent to 6%.
Medium-sized enterprises captured 59% of the total facilities offered by the banking sector by the end of the fourth quarter of 2023, equivalent to SAR 151.9 billion. On the other hand, small enterprises accounted for SAR 84.1 billion.
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Additionally, small enterprises received SAR 8.23 billion of the total facilities provided by financing companies, and medium-sized enterprises secured about SAR 6.52 billion by the end of the fourth quarter of 2023.
