Saudi bank credit surpasses $800bln by end of January 2025
RIYADH - The total bank credit granted to the public and private sectors in Saudi Arabia reached its highest level at SAR3,005,946 million by the end of January 2025, according to the monthly statistical bulletin issued by the Saudi Central Bank (SAMA) for January 2025.
According to Saudi Press Agency (SPA), this marks an annual growth of 15 percent and an increase of over SAR348,219 million compared to the same period in 2024, when it stood at SAR2,621,726 million.
Meanwhile, the total bank credit recorded a monthly growth of 2 percent by the end of January 2025, increasing by approximately SAR50,395 million compared to December 2024, when it stood at SAR2,955,550 million.
ES
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
4 days ago
- Zawya
STC Bank wins Temenos' Fast Track Growth Award
Riyadh, Saudi Arabia: STC Bank has been awarded the Fast Track Growth award at the annual Temenos Forward Awards, in acknowledgment of its remarkable growth in users since its launch as a full-fledged digital bank just three months ago. STC Bank is one of the leading digital banks in the Kingdom of Saudi Arabia. It began its journey as a digital wallet before transitioning into a fully licensed digital bank under the supervision of the Saudi Central Bank (SAMA). The bank's rapid growth is attributed to its ease of use and innovative features, such as instant money transfers via mobile number, competitive rates on international remittances, bill payments, and more. Existing wallet users can seamlessly migrate to the bank's platform, while new customers can open a bank account in less than two minutes. Temenos, a global leader in banking software for over 32 years, has been instrumental in supporting the banking sector through its core banking platform, Temenos Core. This platform empowers users with access to modern digital lending and deposit solutions. The collaboration with Temenos supports STC Bank's commitment to adopting advanced technology and innovation to redefine banking standards in the Kingdom and the broader GCC region. For more information or to explore STC Bank's features, download the app on the Apple App Store or Google Play, or visit For more information about STC Bank, please visit:
Zawya
4 days ago
- Zawya
Saudi MSME financing surges 28% to $93bln
Saudi Arabia's micro, small and medium enterprises (MSMEs) have seen robust growth in financing amid efforts to boost the sector's contribution to the economy. The value of credit facilities provided to MSMEs reached around SAR 351.7 billion ($93.7 billion) during the last quarter of 2024, rising by 28% from a year earlier, according to the latest data from the Saudi Central Bank (SAMA). Banks across the kingdom drove the expansion, with credit facilities extended to MSMEs reaching SAR 333.5 billion, up by nearly 30% year-on-year. Credit facilities from finance companies stood at SAR 18.2 billion, up by 5.4% over the same period. Micro enterprises logged the biggest increase in credit, with facilities surging by 69.5% to SAR 42.2 billion. Small enterprises recorded SAR 122.3 billion, up by 32.5%. Medium-sized businesses secured a total of SAR 187.3 billion in credit facilities, marking an 18% growth over a year ago. Saudi Arabia looks to stimulate the SME sector by increasing its contribution to the gross domestic product (GDP) from 20% to 35% in 2030. (Writing by Cleofe Maceda; editing by Seban Scaria)
Zawya
23-05-2025
- Zawya
Ministry of Economy highlights Saudi Arabia's key economic indicators for April 2025
RIYADH — The Ministry of Economy and Planning highlighted Saudi Arabia's most prominent economic indicators for April 2025. According to the Saudi Economic Pulse bulletin issued by the ministry, real GDP showed a growth rate of 2.7% in the first quarter of 2025, with a 4.2% rise in non-oil activities and 1.4% decline in oil activities. The results of the General Authority for Statistics (GASTAT) showed that unemployment for Saudi Arabia showed a rate of 7.0% in the fourth quarter of 2024. The unemployment rate among Saudi males stood at 4.3%, while the rate among Saudi females was 11.9%. The results of the Saudi Central Bank (SAMA) regarding deposits of governmental and semi-governmental bodies and agencies in the first quarter of 2025 showed an amount of SR483 billion, of which 4.1% on a quarterly basis (QoQ) and 0.2% on an annual basis (YoY). SAMA's results also showed that banks' liabilities to the government in March 2025 amounted to SR612.6 billion, the rate was 1.0% on a monthly basis and 11.2% on an annual basis. As for consumer spending, the total number of ATMs, points of sale, payment systems in March 2025, the results showed an amount of SR200 billion, with a percentage of 14.5 on a monthly basis and 15.8 on an annual basis. The flow of foreign direct investment in the fourth quarter of 2024 amounted to SR21.9 billion, with the percentages distributed on a quarterly basis at 37.2% and on an annual basis at 13.9%. Consumer loans in the first quarter of 2025 amounted to SR480 billion, the results showed a growth of 1.9% on a quarterly basis and 6.4% on an annual basis. The results of Riyadh Bank and S&P Global showed regarding the Purchasing Managers' Index for April 2026, the percentage reached 55.6 points, with a decrease of 4.3 points on a monthly basis and a decrease of 2.5 points on an annual basis. Results from GASTAT on non-oil commodity exports, including 're-exports,' for February 2025 showed that the percentage reached SR1.26 billion, with a decrease of 1.2% on a monthly basis and an increase of 1.1% on an annual basis. Regarding commodity imports in February 2025, which amounted to SR36.2 billion, a monthly decrease of 17.1% and an annual decrease of 6.5%. Preliminary data from Tadawul showed that the main market index closed at 6,671.11 points in April 2025, a decrease of 9.2% on a monthly basis and 8.5% on an annual basis. Data from SAMA showed that exports in the fourth quarter of 2024 amounted to SR328.3 billion, an increase of 4.1% and an annual decrease of 2.9%. As for imports in the fourth quarter of 2024, they amounted to SR312.4 billion, with a quarterly increase of 3.3% and an annual increase of 12.2%. The results of the real estate price index in the first quarter of 2025 showed that it reached 104.9 points, Including a quarterly increase of 0.7% and an annual increase of 4.3%. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
