‎SAR 800.5B mortgages rise, Individual, corporate

Mortgages provided to individuals and corporate clients by commercial banks in Saudi Arabia grew by 13% to around SAR 800.5billion in Q1 2024, from SAR 706 billion in the year-ago period.

Individual mortgages, which accounted for 78% of the total, increased by 10% year-on-year (YoY) to nearly SAR 625.2billion in Q1 2024, updated data from the Saudi Central Bank (SAMA) showed.

Meanwhile, mortgages provided to corporate clients reached about SAR 175.2 billion in Q1 2024, rising 26% YoY.

Mortgages by Commercial Banks (SAR bln)

Period

Q1 2023

Q1 2024

Change

Individuals

566.9

625.2

+10%

Corporates

139.0

175.2

+26%

Total

706.0

800.5

+13%

The following table illustrates mortgages provided by commercial banks since 2019:

Mortgages by Commercial Banks

Period

Individuals

(SAR bln)

Corporates

(SAR bln)

Total

(SAR bln)

Q1 2019

150.9

97.1

248.0

Q2 2019

162.5

96.7

259.2

Q3 2019

176.7

99.2

275.9

Q4 2019

198.1

99.3

297.4

Q1 2020

225.1

104.2

329.3

Q2 2020

250.3

109.6

359.9

Q3 2020

279.2

112.9

392.1

Q4 2020

315.2

113.2

428.4

Q1 2021

358.0

116.5

474.5

Q2 2021

384.7

118.1

502.7

Q3 2021

412.6

120.9

533.5

Q4 2021

445.8

123.1

568.9

Q1 2022

476.2

129.4

605.5

Q2 2022

503.2

135.0

638.3

Q3 2022

529.6

133.1

662.7

Q4 2022

549.8

138.1

687.8

Q1 2023

566.9

139.1

706.0

Q2 2023

582.4

148.9

731.3

Q3 2023

591.7

155.5

747.2

Q4 2023

607.2

160.1

767.3

Q1 2024

625.2

175.2

800.5

According to SAMA, consumer loans rose by 1% YoY to SAR 450.9 billion during the three-month period.

Consumer loans include renovation and real estate improvement loans, car loans, as well as loans for personal transportation, education, healthcare, tourism, travel, furniture, durable goods, among others.

The following table shows consumer loans since 2019:

Consumer Loans*

Period

Renovation and home improvement

(SAR bln)

Transport, furniture, education, healthcare & tourism
(SAR bln)

Others

(SAR bln)

Total

(SAR bln)

Q1 2019

27.16

33.38

258.71

319.25

Q2 2019

26.15

32.70

260.03

318.88

Q3 2019

25.58

32.17

264.56

322.31

Q4 2019

25.65

32.34

275.45

333.44

Q1 2020

25.70

32.81

277.14

335.65

Q2 2020

25.27

32.98

277.52

335.77

Q3 2020

25.46

33.60

293.21

352.26

Q4 2020

23.87

31.77

309.61

365.25

Q1 2021

23.79

33.65

322.10

379.54

Q2 2021

22.20

33.82

338.16

394.18

Q3 2021

20.34

34.22

357.11

411.67

Q4 2021

19.06

32.71

376.62

428.40

Q1 2022

16.48

28.49

391.55

436.52

Q2 2022

15.23

28.26

402.27

445.75

Q3 2022

14.27

27.75

406.12

448.14

Q4 2022

13.44

27.43

410.69

451.55

Q1 2023

12.59

27.24

408.13

447.95

Q2 2023

11.80

26.96

405.20

443.95

Q3 2023

11.26

27.50

405.68

444.45

Q4 2023

10.79

28.09

402.95

441.83

Q1 2024

10.58

29.23

411.07

450.89

*Excluding real estate financing, financing leasing and margin lending.

Credit card loans rose 16% YoY to SAR 27.2billion in the same period, as follows:

Credit Card Loans Since 2019 (SAR bln)

Period

Total

(SAR bln)

Q1 2019

15.63

Q2 2019

16.72

Q3 2019

18.28

Q4 2019

19.05

Q1 2020

20.29

Q2 2020

20.08

Q3 2020

20.56

Q4 2020

18.37

Q1 2021

17.76

Q2 2021

18.20

Q3 2021

19.19

Q4 2021

19.49

Q1 2022

19.60

Q2 2022

20.54

Q3 2022

22.12

Q4 2022

23.07

Q1 2023

23.55

Q2 2023

24.91

Q3 2023

26.49

Q4 2023

27.07

Q1 2024

27.25

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