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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