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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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