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Saudi MSMEs receive SAR 351.7B credit facilities in 2024

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 3 07.40 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 1 7.61 6.90 8.14 2.57 Q2 2024 17.46 6.93 7.88 2.64 Q3 2024 1 8.20 7.28 8.20 2.72 Q4 2024