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Credit facilities extended to micro, small and medium enterprises (MSMEs) in Saudi Arabia rose 17% year-on-year (YoY) to an all-time high of SAR 307.4 billion in Q2 2024, data from the Saudi Central Bank (SAMA) showed.
Medium-sized enterprises came on top with nearly SAR 167.3 billion worth of credit facilities. Small and micro enterprises followed with about SAR 106.4 billion and SAR 33.7 billion facilities, respectively.
Saudi Arabia classifies medium-sized enterprises as those with revenues ranging from SAR 40-200 million, or with a staff strength between 50 and 249. Small enterprises are those with annual revenues from SAR 3-40 million, or with employees between 6 and 49.
Micro-sized enterprises are those with annual revenues of less than SAR 3 million and fewer than five employees.
The following table shows credit facilities provided to MSMEs by banks and financing companies:
|
Credit Facilities to MSMEs Since 2018 (SAR bln) |
|||
|
Period |
2023 |
2024 |
Change |
|
Q1 |
252.2 |
293.4 |
+16% |
|
Q2 |
262.7 |
307.4 |
+17% |
|
Q3 |
268.6 |
-- |
-- |
|
Q4 |
275.6 |
-- |
-- |
The financing offered by the banking sector reached SAR 289.8 billion, representing 94% of the total facilities. Meanwhile, the financing institutions offered SAR 17.6 billion, or 6% of the total.
The table below highlights the details of credit facilities provided to MSMEs:
|
Credit Facilities to MSMEs (SAR bln) |
|||
|
Period |
Banking sector |
Finance Institutions |
Total |
|
Q1 2018 |
87.84 |
7.83 |
95.68 |
|
Q2 2018 |
93.60 |
7.66 |
101.26 |
|
Q3 2018 |
99.00 |
7.68 |
106.68 |
|
Q4 2018 |
100.76 |
7.76 |
108.52 |
|
Q1 2019 |
105.02 |
8.15 |
113.17 |
|
Q2 2019 |
105.16 |
7.87 |
113.03 |
|
Q3 2019 |
106.86 |
8.75 |
115.61 |
|
Q4 2019 |
107.97 |
9.38 |
117.35 |
|
Q1 2020 |
125.16 |
9.68 |
134.84 |
|
Q2 2020 |
147.40 |
10.64 |
158.04 |
|
Q3 2020 |
164.99 |
10.75 |
175.74 |
|
Q4 2020 |
170.35 |
11.89 |
182.24 |
|
Q1 2021 |
175.46 |
12.97 |
188.43 |
|
Q2 2021 |
184.76 |
13.46 |
198.22 |
|
Q3 2021 |
186.22 |
14.16 |
200.37 |
|
Q4 2021 |
188.59 |
14.64 |
203.23 |
|
Q1 2022 |
203.41 |
15.27 |
218.68 |
|
Q2 2022 |
205.61 |
15.39 |
221.00 |
|
Q3 2022 |
212.57 |
15.47 |
228.03 |
|
Q4 2022 |
213.23 |
16.08 |
229.30 |
|
Q1 2023 |
234.95 |
17.28 |
252.23 |
|
Q2 2023 |
245.34 |
17.31 |
262.66 |
|
Q3 2023 |
251.64 |
16.93 |
268.57 |
|
Q4 2023 |
258.30 |
17.28 |
275.58 |
|
Q1 2024 |
275.73 |
17.70 |
293.43 |
|
Q2 2024 |
289.80 |
17.61 |
307.40 |
Medium-sized enterprises accounted for SAR 160.4 billion, or 55% of total facilities provided by the banking sector by the end of Q2 2024. The share of small-sized enterprises reached SAR 98.3 billion.
|
Credit Facilities by Banks (SAR bln) |
||||
|
Enterprise |
Micro |
Small |
Medium |
Total |
|
Q1 2018 |
4.22 |
22.01 |
61.62 |
87.84 |
|
Q2 2018 |
3.69 |
20.82 |
69.10 |
93.60 |
|
Q3 2018 |
3.97 |
21.80 |
73.22 |
99.00 |
|
Q4 2018 |
3.70 |
22.31 |
74.76 |
100.76 |
|
Q1 2019 |
2.87 |
22.98 |
79.17 |
105.02 |
|
Q2 2019 |
2.61 |
23.11 |
79.44 |
105.16 |
|
Q3 2019 |
3.05 |
22.97 |
80.84 |
106.86 |
|
Q4 2019 |
3.53 |
23.01 |
81.44 |
107.97 |
|
Q1 2020 |
3.78 |
27.47 |
93.92 |
125.16 |
|
Q2 2020 |
5.33 |
31.28 |
110.80 |
147.40 |
|
Q3 2020 |
6.20 |
37.26 |
121.54 |
164.99 |
|
Q4 2020 |
7.18 |
39.92 |
123.26 |
170.35 |
|
Q1 2021 |
8.34 |
39.67 |
127.45 |
175.46 |
|
Q2 2021 |
8.47 |
44.18 |
132.11 |
184.76 |
|
Q3 2021 |
11.14 |
45.08 |
129.99 |
186.22 |
|
Q4 2021 |
9.37 |
50.59 |
128.64 |
188.59 |
|
Q1 2022 |
13.83 |
54.04 |
135.54 |
203.41 |
|
Q2 2022 |
14.94 |
55.78 |
134.88 |
205.61 |
|
Q3 2022 |
14.37 |
61.55 |
136.64 |
212.57 |
|
Q4 2022 |
15.18 |
65.08 |
132.97 |
213.23 |
|
Q1 2023 |
19.62 |
70.25 |
145.09 |
234.95 |
|
Q2 2023 |
20.21 |
75.70 |
149.43 |
245.34 |
|
Q3 2023 |
21.35 |
77.87 |
152.42 |
251.64 |
|
Q4 2023 |
22.32 |
84.09 |
151.89 |
258.30 |
|
Q1 2024 |
26.80 |
95.19 |
153.74 |
275.73 |
|
Q2 2024 |
31.13 |
98.26 |
160.41 |
289.80 |
Small enterprises received SAR 8.1 billion of the total facilities offered by financing institutions in Q2 2024, while medium enterprises received around SAR 6.9 billion in the same period, as follows:
|
Credit Facilities by Financing Institutions (SAR bln) |
||||
|
Enterprise |
Micro |
Small |
Medium |
Total |
|
Q1 2018 |
1.45 |
3.00 |
3.38 |
7.83 |
|
Q2 2018 |
1.37 |
2.91 |
3.38 |
7.66 |
|
Q3 2018 |
1.39 |
2.98 |
3.32 |
7.68 |
|
Q4 2018 |
1.21 |
3.21 |
3.34 |
7.76 |
|
Q1 2019 |
1.11 |
3.47 |
3.57 |
8.15 |
|
Q2 2019 |
1.07 |
3.60 |
3.20 |
7.87 |
|
Q3 2019 |
1.29 |
3.83 |
3.63 |
8.75 |
|
Q4 2019 |
1.69 |
3.81 |
3.88 |
9.38 |
|
Q1 2020 |
1.74 |
4.23 |
3.71 |
9.68 |
|
Q2 2020 |
2.03 |
4.76 |
3.85 |
10.64 |
|
Q3 2020 |
1.86 |
5.17 |
3.73 |
10.75 |
|
Q4 2020 |
2.51 |
5.18 |
4.19 |
11.89 |
|
Q1 2021 |
2.79 |
5.63 |
4.55 |
12.97 |
|
Q2 2021 |
2.70 |
6.10 |
4.66 |
13.46 |
|
Q3 2021 |
2.77 |
6.61 |
4.78 |
14.16 |
|
Q4 2021 |
2.94 |
6.77 |
4.93 |
14.64 |
|
Q1 2022 |
3.15 |
7.22 |
4.90 |
15.27 |
|
Q2 2022 |
3.17 |
7.26 |
4.97 |
15.39 |
|
Q3 2022 |
3.42 |
7.17 |
4.87 |
15.47 |
|
Q4 2022 |
3.20 |
7.54 |
5.34 |
16.08 |
|
Q1 2023 |
2.92 |
8.30 |
6.06 |
17.28 |
|
Q2 2023 |
2.95 |
8.18 |
6.19 |
17.31 |
|
Q3 2023 |
2.68 |
8.04 |
6.21 |
16.93 |
|
Q4 2023 |
2.58 |
8.19 |
6.52 |
17.28 |
|
Q1 2024 |
2.59 |
8.26 |
6.85 |
17.70 |
|
Q2 2024 |
2.57 |
8.14 |
6.90 |
17.61 |
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