SME Bank targets to offer SAR 10.5 bln loans in 3 years: Acting CEO

14/06/2023 Argaam Special
SME Bank Acting CEO Abdulrahman bin Mansour

SME Bank Acting CEO Abdulrahman bin Mansour

Small and Medium Enterprises Bank (SME Bank), in coordination with the financing institutions, aims to offer SAR 3 billion in loans to enterprises in 2023, Acting CEO Abdulrahman bin Mansour told Argaam.     

   

Additionally, the bank targets to increase arranged facilities to SAR 10.5 billion over the next three years, he added.   

     

SME Bank provides loans to institutions with terms starting from six months and does not request a guarantee for loans of up to SAR 6.5 million.    

   

Furthermore, the bank does not compete with financiers in the private sector, but it coordinates with them under a risk-sharing model.    

   

Bin Mansour indicated that the bank strives to provide sustainable support and incentives to a large number of SMEs.   

    

SME Bank is currently evaluating interest-rate hikes, risks, and financing to reassess the relevant measures, he said.    

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