The Saudi finance companies sector posted solid growth in most indicators with the finance portfolio surging by 10.8% to SR75.45 billion ($20 billion), according to the Saudi Central Bank (SAMA), which issued the annual performance report of the Saudi Finance Companies Sector for 2022.
In most indicators, the finance companies sector grew at varying rates in 2022, it stated.
The paid-up share capital increased by 0.6% to SR14.64 billion, net income by 3.3% to SR1.86 billion and total assets by 6.5% to SR57.02 billion, said the report, which outlines the sector’s key developments and financial results.
In terms of loan portfolio classification, SAMA said the retail sector accounted for the largest share of 76%, followed by MSME sector with 21% and corporate sector with 3%.
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