The combined financing facilities extended by Saudi financial sector companies saw a jump of 10.8 percent to reach SAR75.45 billion in 2022, official data showed.
Of this, financing granted to the individual sector accounted for the largest part, accounting for 76 percent, while financing granted to the small, medium and micro enterprises (MSMEs) sector amounted to 21 percent and the corporate sector at 3 percent, according to data by the Saudi Central Bank, ‘SAMA’.
The report also showed a 6.5 percent increase in total assets by financial sector companies in the country last year to reach SAR57.02 billion.
According to SAMA’s annual report on the performance of the financing companies sector for 2022, the combined capital of the sector increased by approximately 0.6 percent to reach SAR14.64 billion, while the consolidated net profit amounted to SAR1.86 billion, an increase of 3.3 percent.
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