Retail, corporate mortgages rise 13% to SAR 846.5B in Q3 2024

03/12/2024 Argaam Special
Saudi Arabian banknotes

Saudi Arabian banknotes

Mortgages provided to individuals and corporate clients by commercial banks in Saudi Arabia grew 13% to around SAR 846.8 billion in Q3 2024, from SAR 747.2 billion in the year-ago period.

 

 

 

Retail mortgages, which accounted for 78% of the total, increased 11% year-on-year (YoY) to nearly SAR 656.9 billion in Q3 2024, updated data from the Saudi Central Bank (SAMA) showed.

 

Meanwhile, mortgages provided to corporate clients reached about SAR 189.6 billion in Q3 2024, rising 22% YoY.

 

 

 

 

According to SAMA, consumer loans rose 4% YoY to SAR 462.3 billion during the three-month period.

 

Consumer loans include renovation and real estate improvement loans, car loans, as well as loans for personal transportation, education, healthcare, tourism, travel, furniture, and durable goods, among others.

 

 

 

Credit card loans added 14% YoY to SAR 30.3 billion in the third quarter of this year.

 

 

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