Facilities given for establishments by the end of Q3, hit SR 329 billion

The total volume of facilities provided by the sectors; (banks and financing companies) to medium, small and micro enterprises continued to grow, reaching its highest historical levels at 329,228 billion riyals by the end of the third quarter of 2024, achieving an annual growth of 23% and a value of 60,654 billion riyals, compared to the same period in 2023, which amounted to 268,574 billion riyals.

It also achieved a quarterly growth of 7.1% and a value of 21,827 billion riyals, compared to the end of the second quarter of the same year, which amounted to 307,401 billion riyals, according to what was explained by the monthly statistical bulletin for November 2024 issued by the Saudi Central Bank.

According to the bulletin, the banking sector provided facilities amounting to 311,772 billion riyals, representing about 94.7% of the total facilities for establishments. While the financing companies sector provided facilities amounting to 17,456 billion riyals.

“Medium” establishments received the largest share of the facilities provided, amounting to 181,052 billion riyals, representing about 55% of the total facilities.

According to the classification of the General Authority for Small and Medium Enterprises, “medium” establishments are classified as establishments with revenues ranging from (40 to 200 million riyals), or the number of their employees ranging from 50 to 249 employees, followed by “small” establishments with a value of facilities provided amounting to 112.032 billion riyals, representing about 34% of the total facilities, and establishments are classified as “small” according to the size of their revenues from (3-40 million riyals), or the number of their employees ranging from 6-49 employees. Then came “micro” establishments with a value of facilities provided amounting to 36.143 billion riyals, representing about 11% of the total facilities. According to the classification, establishments are classified as “micro” according to the size of their revenues from (0-3 million riyals), or the number of their employees ranging from 1-5 employees.