SAMA: Total Assets for Saudi Finance Companies Sector Grows by 13% in 2023


Riyadh: The Saudi Central Bank (SAMA) published the Annual Performance Report of the Saudi Finance and Real Estate Refinance Companies Sector for the year 2023. The report highlighted the sector’s developments and financials during 2023, noting that the paid-up share capital for the finance companies sector increased by 6% to SAR 15.5 billion, total assets by 13% to SAR 64.2 billion, and the total finance portfolio by 12% to SAR 84.7 billion. The report also highlighted that the net income of the finance companies sector stood at SAR 1.7 billion. Likewise, the total assets of the real estate refinancing sector witnessed an increase of 48%, reaching SAR 31 billion.

In terms of loan portfolio classification, the retail sector accounted for the largest share at 77%, followed by the MSME sector at 20%, and the corporate sector at 3%.

By the end of 2023, the number of employees (male and female) working in finance companies exceeded six thousand, with Saudis accounting for 86% of the total number of employees.

The Annual Performance Report of the Saudi Finance and Real Estate Refinance Companies Sector for 2023 is available on SAMA’s website.

Source: Saudi Press Agency

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