We are pleased to present our newest quarterly publication on the banking sector in Saudi Arabia.

In this edition, aside from the usual market insights and financial performance, we share the findings of our latest global CEO Outlook Pulse Survey, with the curated responses from banking CEOs.

As we emerge from the pandemic, some of the performance developments in the Kingdom’s banking industry are significantly better than they were before. For instance, the sector’s total assets have exceeded SAR 3 trillion while total deposits are nearing the SAR 2 trillion target. Additionally, there has been a remarkable increase in total credit since FY 2018, an increase of over 30%. The most significant of the of positive performance indicators over the past two years has been the growth in real estate finance with an increase of approximately 100% since FY 2018.

Finally, the rapid developments in digitization and ESG continue to create pressure on peer banks to not only grow but also to create sustainability of the current market within a healthy margin.

All of this proves the ability of the banking sector to overcome challenges in unforeseen circumstances, but is also a testament to the significant mark left by the Vision 2020 Financial Services Sector Development Program (FSDP) and the consequential collateral steps taken by SAMA.

We wish you an insightful read of this edition of our Banking Pulse which is part of a series of our industry-wide endeavor to share and seek insights in the banking space.