The total volume of financing facilities provided to small, medium and micro enterprises from the banking sector and finance companies in Saudi Arabia by the end of 2024 increased to 351.7 billion riyals, an increase of 28% compared to 2023.

According to data released by the Saudi Central Bank (SAMA), financing facilities provided by the banking sector alone amounted to about 333.3 billion riyals. According to data released by Saudi Central Bank (SAMA), financing provided by the banking sector alone amounted to about 333.5 billion riyals, accounting for about 95% of the total facilities, while facilities provided by finance companies amounted to 18.2 billion riyals, equivalent to 5%.

According to data from Saudi Central Bank (SAMA). <Medium enterprises topped the volume of facilities, accounting for 54% of the total facilities provided by the banking sector, equivalent to 179.9 billion riyals, followed by small enterprises, which received 114 billion riyals of bank financing. At the level of financing companies, small enterprises accounted for 8.2 billion riyals, while the share of medium enterprises amounted to about 7.3 billion riyals.

<Medium enterprises in the Kingdom are categorized as those with annual revenues between 40 and 200 million riyals, or between 50 and 249 employees. Small enterprises are those with annual revenues between 3 and 40 million riyals, with 6 to 49 employees. Micro enterprises are defined as those with annual revenues of less than 3 million riyals and fewer than 5 employees.

Micro enterprises are defined as those with annual revenues of less than 3 million riyals and fewer than 5 employees.