Saudi Central Bank (SAMA) data revealed that the levels of credit provided by finance companies to non-individuals by economic activity continued to grow to reach its highest levels ever to reach about 20,320 billion riyals at the end of the first quarter 2024, achieving an annual growth of 3.5%, an increase of 696 million riyals, compared to the same period in 2023, which amounted to 19,623 billion riyals.

Data from the Saudi Central Bank "SAMA" revealed.

Building and construction activity accounted for the largest share of credit provided by finance companies with a value of 5,691 billion riyals, accounting for about 28% of the total by the end of the first quarter of 2024, according to the monthly statistical bulletin for June issued by Saudi Central Bank (SAMA).

The monthly statistical bulletin for the month of June issued by the Saudi Central Bank (SAMA). <The bulletin showed that the “services” activity came in second place with a value of 4,514 billion riyals, accounting for about 22.2% of the total, and “trade” came in third place with a value of 3,271 billion riyals, accounting for about 16.1% of the total, followed by “other activities” with a value of 2,112 billion riyals, accounting for about 10.4% of the total and came fifth, ”transportation and communications“ with a value of 1,819 billion riyals, accounting for about 8.9% of the total, then ”industry“ with a value of 1,727 billion riyals, accounting for about 8.5% of the total.

”Water, electricity, gas and health services“ came seventh with a value of 706 million riyals, accounting for about 3.5% of the total, followed by ”mining and mines“ with a value of 171 million riyals, accounting for about 0.8% of the total.

Mining and mines activity with a value of 171 million riyals, accounting for about 0.8% of the total.

<”Agriculture and Fishing“ recorded 132 million riyals, ”Government and Semi-Government” 94.08 million riyals and ”Finance” SAR 83 million, recorded the lowest credit among other activities.

According to the monthly statistical bulletin for the month of June issued by the Central Bank of Saudi Arabia, credit levels grew quarter-on-quarter by 2.9%, an increase of about 571 million riyals, compared to 19,748 billion riyals at the end of Q4 2023.

Credit was distributed among 11 diverse economic activities.

Looking at the credit granted to non-individuals by sectors, ”small enterprises“ accounted for about 40.6% of the total, worth 8,258 billion riyals, and ”medium enterprises“ came second with an estimated 33.7% of the total, worth SAR 6,850 billion, then ”large companies“ came third with 12.9% of the total, worth SAR 2,625 billion, and ”micro enterprises“ came fourth with SAR 2,587 billion, worth 12.7% of the total.

Small enterprises accounted for about 40.6% of the total, worth SAR 8,258 billion, and ”medium enterprises" came second with an estimated value of 33TP3T.