Long-term loans accounted for the largest share at $378.67 billion, followed by short-term credit at $287.34 billion and medium-term loans totaling $116.12 billion, according to data from the Saudi Central Bank (SAMA).

Saudi Arabia’s banking sector continues to thrive, driven by economic diversification efforts under Vision 2030. These efforts focus on reducing reliance on oil revenues and developing key sectors like tourism, technology, and entertainment. The sector maintains strong liquidity and high capital adequacy ratios, ensuring a solid buffer against potential financial shocks.

The Saudi Arabian Monetary Authority (SAMA) has also introduced regulatory reforms to promote a more inclusive financial system. These include supporting digital lending platforms and crowdfunding services, making financing more accessible across diverse segments.

Bank credit in Saudi Arabia showed steady monthly growth throughout 2024, increasing from $692.42 billion at the start of the year to a record high by November. This consistent rise reflects the impact of reforms and initiatives to broaden financial access. As a result, more individuals and businesses in the Kingdom now benefit from financial products that foster entrepreneurship and growth, driving further economic development.