The financial support provided to small, medium, and extremely small enterprises from the banking and financing companies in Saudi Arabia witnessed a significant uptick by the end of the third quarter of 2023, reaching approximately SAR 268.6 billion, marking an 18% rise from the same period in 2022.
The data released by the Saudi Central Bank, SAMA, indicated that the banking sector contributed SAR 251.6 billion, representing 94% of the total facilities, while financing companies contributed SAR 16.9 billion, accounting for the remaining 6%.
Here’s a table showing the development of facilities provided to small and extremely small businesses by banks and financing companies:
Updated data*
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At the end of the third quarter of 2023, medium-sized establishments accounted for 61% of the total facilities provided by the banking sector, equivalent to SAR 152.4 billion, while small establishments accounted for SAR 77.9 billion, as the following table illustrates:
Details of the facilities provided to small and medium-sized enterprises according to the financing sector
Small enterprises obtained SAR 8.04 billion of the total facilities from financing companies by the end of the third quarter of 2023, while medium-sized enterprises received about SAR 6.2 billion, as highlighted in the subsequent table:
