Saudi finance companies financial portfolios hit over $18bln in 2021

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Riyadh - Saudi Arabia recorded a 26% year-on-year (YoY) increase in the total financing portfolios of finance companies to SAR 68.12 billion in 2021, compared to SAR 54.13 billion.

The financing portfolio included SAR 42.49 billion from non-real estate finance companies and SAR 25.63 billion from real estate finance companies.

This announcement was published in the Saudi Central Bank's (SAMA) second annual report on the performance of the Saudi financing sector.

Meanwhile, the value of new financing disbursed by finance companies jumped by 47% YoY to SAR 25.40 billion during the last year.

The assets of the Kingdom's real estate financing and refinancing companies rose by 26% to SAR 66.95 billion in 2021, compared to SAR 53.1 billion in 2020.

In addition, the combined net profit of finance companies amounted to SAR 1.9 billion in 2021, up 114% on an annual basis.