Individual, corporate mortgages exceed SAR 700 bln in Q1

Mortgages provided to individuals and corporate clients by commercial banks in Saudi Arabia grew by 17% to around SAR 705.95 billion in Q1 2023, from SAR 605.50 billion in the year-ago period.

Individual mortgages, which accounted for 80% of the total, increased by 19% year-on-year (YoY) to nearly SAR 566.9 billion in Q1 2023, updated data from the Saudi Central Bank (SAMA) showed.

Meanwhile, mortgages provided to corporate clients reached approximately SAR 139 billion in Q1 2023, rising 7% YoY.

Source : Argaam