Bank for Social Development reports its statistics for the third quarter of 2020

Friday-2020-10-30

The Bank for Social Development disclosed its results for the third quarter of the current year 2020, approved funding for small and emerging enterprises, projects for productive families, social financing programmes and self-employment, exceeding the number of beneficiaries (60) thousand, with funding exceeding the 3 billion rials and a growth rate of 68% over the equivalent quarter of the previous year 2019.

In addition to its support to the enterprise sector for the third quarter of 2020, the Bank has reported funding for 723 establishments valued at 1.5 billion rials. The report shows a growth rate of funding for approved projects of 574% for the equivalent quarter of 2019m.

The Bank also financed more than 8000 productive families with funding valued at R$94 million, growth of 17.7 per cent from the previous quarter. I'm sorry.

With regard to the self-employment product, a financing product for citizens who are able to work and who wish to increase their monthly income, the Bank has adopted funding for more than 24,000 beneficiaries, valued at 1.3 billion rials, diversified the financing of participatory transport, who work through vehicle guidance systems, skills and qualitative, creative and craft work. I'm sorry.

With regard to social financing programmes, the Bank has financed over 23 thousand beneficiaries, amounting to R$1.2 billion, including financing of the marriage, family and renovation product, as well as women ' s support, where the Bank has financed through this product 1270 women with a value exceeding R$37 million. I'm sorry.

The Bank for Social Development is also endeavouring to raise financial awareness, promote and encourage a culture of savings, in line with the Kingdom ' s vision 2030, with more than 14.5 million participants in the third quarter 2020 programme providing savings to individuals and families produced during the third quarter of 2019, with a 19% growth rate of the same quarter, bringing the number of participants to 50 thousand by the end of the third quarter 2020, totalling 140 million. I'm sorry.

The Bank, together with its financial services, offers a number of non-financial services with a view to the economic and social development of members of society, through the establishment of a number of events, activities, programmes and services, where the Bank has established one of the most important development events to support and motivate productive families with an effective grant (90 producers with Saudi arms) of credit, as part of the Bank ' s contributions to 90 national day ' s professional, artisanal and quality products. I'm sorry.


The Bank for Social Development seeks to provide the best finance, support and empowerment services and programmes for its clients, to involve them in the process of development and tendering and to extend development bridges, in collaboration with partners in various government, private and non-profit sectors, to achieve access, sustainability and to keep pace with the leadership ' s ambitious vision of 2030. I'm sorry.