The Saudi Central Bank (SAMA) released the 2023 Annual Performance Report of the Saudi Finance and Real Estate Refinance Companies Sector, as reported by the Saudi Press Agency (SPA).
The report outlined the sector’s progress and finances for the year. Notably, the paid-up share capital for finance companies increased by 6% to SAR 15.5 billion, total assets rose by 13% to SAR 64.2 billion, and the total finance portfolio grew by 12% to SAR 84.7 billion. The net income of the finance companies sector was SAR 1.7 billion.
Additionally, the total assets of the real estate refinancing sector surged by 48% to SAR 31 billion. Regarding loan portfolio classification, the retail sector held the largest share at 77%, followed by the MSME sector at 20%, and the corporate sector at 3%.
