Riyadh - Mubasher: Credit levels provided by financing companies to non-individuals by economic activity in the Kingdom continued to grow to reach their highest levels ever, reaching about SAR 20.858 billion by the end of the third quarter of 2024, achieving an annual growth of 8.4%, and an increase of SAR 1.612 billion, compared to the same period in 2023, which amounted to SAR 19.246 million.

Credit was distributed across 11 diverse economic activities, according to data from the monthly statistical bulletin for December issued by the Saudi Central Bank. Credit levels achieved growth on a quarterly basis of 2%, with an increase of about 324 billion riyals, compared to 20,534 billion riyals at the end of the second quarter of the same year, according to the Saudi Press Agency (SPA) today, Monday.

Looking at the credit granted to non-individuals by sector, “small enterprises” accounted for about 38% of the total, with a value of 7.883 billion riyals, followed by “medium enterprises” with an estimated 33% of the total, with a value of 6.929 billion riyals, “large companies” came in third with 16% of the total, with a value of 3.403 billion riyals, and fourth, “micro” with a value of 2.643 billion riyals, with a percentage of 13% of the total.

In contrast, the “construction and building” activity accounted for the largest share of credit provided by financing companies, with a value of 6.450 billion riyals, representing about 31% of the total, followed by the “services” activity, with a value of 4.548 billion riyals, representing about 22% of the total.

The “trade” activity came in third place with a value of 3,110 billion riyals, representing about 15% of the total, followed by “other” activities with a value of 2,051 billion riyals, representing about 10% of the total. The “industry” activity came in fifth place with a value of 1,978 billion riyals, representing about 9.5% of the total, then the “transportation and communications” activity with a value of 1,616 billion riyals, representing about 8% of the total. The “water, electricity, gas and health services” activity came in seventh place with a value of 634 million riyals, representing about 3% of the total, then the “mining and quarrying” activity with a value of 150 million riyals, representing about 1% of the total.

While the activities of “agriculture and fishing” recorded 124 million riyals, “government and semi-government” 117 million riyals, and “financing” 80 million riyals, the least credit among the other activities.