Saudi MSMEs receive SAR 351.7B credit facilities in 2024

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Credit facilities extended to micro, small, and medium enterprises (MSMEs) rose by 28% year-on-year (YoY) to SAR 351.7 billion in 2024, data from the Saudi Central Bank (SAMA) showed.

 

Medium-sized enterprises topped the total amount of credit facilities with approximately SAR 187.2 billion, small enterprises with about SAR 122.2 billion, and micro enterprises with SAR 42.3 billion.

 

In Saudi Arabia, medium-sized enterprises are classified as those with annual revenues between SAR 40 and SAR 200 million, or employing 50 to 249 on rolls. Small enterprises are those generating annual revenues between SAR 3 and SAR 40 million (employing between 6 and 49 people). Micro enterprises have annual revenues of less than SAR 3 million (fewer than five employees).

 

The following table shows developments in credit facilities provided to MSMEs by banks and financing companies:

 

Credit Facilities to MSMEs Since 2018 (SAR bln)

Period

Value (SAR bln)

Change

2018

108.52

--

2019

117.35

+8%

2020

182.24

+55%

2021

203.23

+12%

2022

229.03

+13%

2023

275.58

+20%

2024

351.70

+28%
 

The financing offered by the banking sector reached SAR 333.5 billion, representing 95% of the total facilities. Meanwhile, the financing institutions offered SAR 18.2 billion, or 5% of the total.

 

The table below indicates details of credit facilities provided to MSMEs by sector:

 

Credit Facilities by Sector (SAR bln)

Total

Financing Institutions

Banking Sector

Period

95.68

7.83

87.84

Q1 2018

101.26

7.66

93.60

Q2 2018

106.68

7.68

99.00

Q3 2018

108.52

7.76

100.76

Q4 2018

113.17

8.15

105.02

Q1 2019

113.03

7.87

105.16

Q2 2019

115.61

8.75

106.86

Q3 2019

117.35

9.38

107.97

Q4 2019

134.84

9.68

125.16

Q1 2020

158.04

10.64

147.40

Q2 2020

175.74

10.75

164.99

Q3 2020

182.24

11.89

170.35

Q4 2020

188.43

12.97

175.46

Q1 2021

198.22

13.46

184.76

Q2 2021

200.37

14.16

186.22

Q3 2021

203.23

14.64

188.59

Q4 2021

218.68

15.27

203.41

Q1 2022

221.00

15.39

205.61

Q2 2022

228.03

15.47

212.57

Q3 2022

229.30

16.08

213.23

Q4 2022

252.23

17.28

234.95

Q1 2023

262.66

17.31

245.34

Q2 2023

268.57

16.93

251.64

Q3 2023

275.58

17.28

258.30

Q4 2023

293.43

17.70

275.73

Q1 2024

307.40

17.61

289.80

Q2 2024

329.23

17.46

311.77

Q3 2024

351.70

18.20

333.50

Q4 2024
 

Medium enterprises accounted for SAR 179.9 billion, or 54% of total banking facilities, while small enterprises held around SAR 114 billion, as shown below:

 

Credit Facilities by Banks (SAR bln)

Total

Medium

Small

Micro

Enterprise

87.84

61.62

22.01

4.22

Q1 2018

93.60

69.10

20.82

3.69

Q2 2018

99.00

73.22

21.80

3.97

Q3 2018

100.76

74.76

22.31

3.70

Q4 2018

105.02

79.17

22.98

2.87

Q1 2019

105.16

79.44

23.11

2.61

Q2 2019

106.86

80.84

22.97

3.05

Q3 2019

107.97

81.44

23.01

3.53

Q4 2019

125.16

93.92

27.47

3.78

Q1 2020

147.40

110.80

31.28

5.33

Q2 2020

164.99

121.54

37.26

6.20

Q3 2020

170.35

123.26

39.92

7.18

Q4 2020

175.46

127.45

39.67

8.34

Q1 2021

184.76

132.11

44.18

8.47

Q2 2021

186.22

129.99

45.08

11.14

Q3 2021

188.59

128.64

50.59

9.37

Q4 2021

203.41

135.54

54.04

13.83

Q1 2022

205.61

134.88

55.78

14.94

Q2 2022

212.57

136.64

61.55

14.37

Q3 2022

213.23

132.97

65.08

15.18

Q4 2022

234.95

145.09

70.25

19.62

Q1 2023

245.34

149.43

75.70

20.21

Q2 2023

251.64

152.42

77.87

21.35

Q3 2023

258.30

151.89

84.09

22.32

Q4 2023

275.73

153.74

95.19

26.80

Q1 2024

289.80

160.41

98.26

31.13

Q2 2024

311.77

174.12

104.15

33.50

Q3 2024

333.50

179.93

113.98

39.60

Q4 2024
 

Small enterprises received SAR 8.2 billion of the total facilities offered by financing institutions in 2024, while medium enterprises received around SAR 7.3 billion in the same period, as follows:

 

Credit Facilities by Financing Institutions (SAR bln)

Total

Medium

Small

Micro

Period

7.83

3.38

3.00

1.45

Q1 2018

7.66

3.38

2.91

1.37

Q2 2018

7.68

3.32

2.98

1.39

Q3 2018

7.76

3.34

3.21

1.21

Q4 2018

8.15

3.57

3.47

1.11

Q1 2019

7.87

3.20

3.60

1.07

Q2 2019

8.75

3.63

3.83

1.29

Q3 2019

9.38

3.88

3.81

1.69

Q4 2019

9.68

3.71

4.23

1.74

Q1 2020

10.64

3.85

4.76

2.03

Q2 2020

10.75

3.73

5.17

1.86

Q3 2020

11.89

4.19

5.18

2.51

Q4 2020

12.97

4.55

5.63

2.79

Q1 2021

13.46

4.66

6.10

2.70

Q2 2021

14.16

4.78

6.61

2.77

Q3 2021

14.64

4.93

6.77

2.94

Q4 2021

15.27

4.90

7.22

3.15

Q1 2022

15.39

4.97

7.26

3.17

Q2 2022

15.47

4.87

7.17

3.42

Q3 2022

16.08

5.34

7.54

3.20

Q4 2022

17.28

6.06

8.30

2.92

Q1 2023

17.31

6.19

8.18

2.95

Q2 2023

16.93

6.21

8.04

2.68

Q3 2023

17.28

6.52

8.19

2.58

Q4 2023

17.70

6.85

8.26

2.59

Q1 2024

17.61

6.90

8.14

2.57

Q2 2024

17.46

6.93

7.88

2.64

Q3 2024

18.20

7.28

8.20

2.72

Q4 2024
 
 
 

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