SDB collects SAR 114B from total loans offered to citizens

The Social Development Bank (SDB) collected SAR 114 billionfrom the total loans worth SAR 155 billion offered to citizens, Al Eqtisadiah newspaper reported, citing CEO Sultan Al-Hamidi.

He added that the total loans offered to females since the bank's establishment reached nearly SAR 22 billion, soaring 348% over the last five years.

The lender's financing reached SAR 1.85 billion in Q1 2024, the top executive said, noting that over 1,500 entities benefited from financing worth SAR 600 million.

Further, more than 11,800 entrepreneurs capitalized on the capabilities building and quality training.

The social financing offered to 12,000 citizens reached SARA 640 million during the three-month period, Al-Hamidi said.