Retail, corporate mortgages surge to SAR 817B in Q2 2024

Saudi Arabian banknotes

Mortgages provided to individuals and corporate clients by commercial banks in Saudi Arabia grew 12% to around SAR 816.8 billion in Q2 2024, from SAR 731.3 billion in the year-ago period.

For more details on real estate mortgages

Retail mortgages, which accounted for 79% of the total, increased 10% year-on-year (YoY) to nearly SAR 641.7 billion in Q2 2024, updated data from the Saudi Central Bank (SAMA) showed.

Meanwhile, mortgages provided to corporate clients reached about SAR 175.1 billion in Q2 2024, rising 18% YoY.

Breakdown of Mortgages Provided by Commercial Banks (SAR bln)
Period	Q2 2023	Q2 2024	Change
Individuals	582.3	641.7	+10%
Corporates	148.9	175.1	+18%
Total	731.3	816.8	+12%

The following table illustrates mortgages provided by commercial banks in Saudi Arabia since 2019:

Development in Mortgages Provided 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	533.4
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	139.0	706.0
Q2 2023	582.4	148.9	731.3
Q3 2023	591.7	155.5	747.2
Q4 2023	607.2	160.0	767.3
Q1 2024	625.2	175.2	800.5
Q2 2024	641.7	175.1	816.8

According to SAMA, consumer loans rose 2% YoY to SAR 452.3 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 development in consumer loans since 2019:

Consumer Loans (SAR bln)*
Period	Renovation & home improvement	Transport, furniture, education, health & tourism	Others	Total
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
Q2 2024	10.11	29.28	412.93	452.32

*Excluding real estate financing, financing leasing and margin stock lending.

Credit card loans added 21% YoY to SAR 30.04 billion in the second quarter of this year, 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
Q2 2024	30.04

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