who we are

The bank is considered one of the important pillars of development in empowering citizens by providing easy financing products and programs to contribute an effective and influential role in the process of construction and development and advancing the national economy. Since its inception, the bank has witnessed fundamental developments that have positioned it to this day as one of the most important development institutions that plays an effective and influential role in the process of social and economic development within the components of our beloved nation. This came from the belief of the wise leadership in the importance of the roles it provides in the field of facilitated development financing programs for the people of this nation, on the one hand. On the other hand, supporting small and emerging enterprises as an important contributor to building the Kingdom’s economy.

the beginning

The beginning was in 1971 AD, when a royal decision was issued to establish the bank under the name “Saving and Credit Bank” with a capital of 5 million riyals to provide social loans. In 1983, the bank was assigned a professional loan program, and in 1993 the bank’s capital was increased to one billion riyals, and in 2001 the program was included. The Custodian of the Two Holy Mosques financed taxis to the bank, and in 2006 the bank’s capital was raised to 6 billion riyals, and a year later in 2007 the name was changed to the Saudi Credit and Savings Bank with the addition of three tasks: “Providing loans to small and emerging enterprises - performing the role of complementary coordinator for caring for the sector.” Small and emerging enterprises - working to encourage thrift and savings. In 2008, the bank received a royal grant worth 10 billion, and the support continued to raise the bank’s capital to reach 46 billion riyals in 2013 with the expansion of lending and development support. In 2016, the Council of Ministers issued a decision to change the name of the bank. To the Social Development Bank, moving towards broader horizons in achieving comprehensive and sustainable development empowerment for a vibrant and productive society.

In line with the ambitious development goals of Vision 2030, which drew the business map and paved the way for joint cooperation, the Bank’s contribution emerged in increasing the contribution of small and emerging enterprises and productive families to the national economy, enhancing social services and financial planning represented by savings programs, as well as empowering non-profit organizations.

Bank vision

To be a pioneer in enabling social development tools and enhancing the financial independence of individuals and families towards a vibrant and productive society.

Bank message

Providing financial and non-financial services and purposeful and effective savings programs supported by qualified human cadres to contribute to social development, build partnerships, spread financial awareness and enhance the culture of self-employment among all segments of society.

Values of the Social Development Bank

We win customers

We achieve our clients' goals by anticipating their needs and understanding their aspirations to provide appropriate services and solutions with high efficiency

We enable growth

We create growth opportunities for all of our colleagues by empowering them and providing them with encouragement, guidance and ongoing support

We show responsibility

We embrace responsibility for all our tasks and are committed to quickly completing our work to achieve continuous development and build a high-performance culture

We drive innovation

We think boldly and openly and embrace the application of bold ideas and innovative methods to contribute to continuous growth

Objectives

First: Providing interest-free financing and non-financial services to micro-enterprises, to encourage their owners to practice businesses and professions on their own and for their own account. The bank determines the classification of these projects, the maximum limit for their capital and the number of employees in them.

Second: Providing interest-free loans and non-financial services to associations and civil society institutions, enabling them to contribute to providing services to the segments that the bank targets.

Third: Providing interest-free social financing to low-income citizens to help them overcome their financial difficulties.

Fourth: Providing interest-free loans to small and emerging enterprises to help increase their contribution to the national economy and create job opportunities.

Fifth: Providing technical and administrative support services to establishments benefiting from the bank’s services to raise their efficiency and increase their chances of success.

Sixth: Motivating the private sector to participate in social responsibility by managing private financial portfolios by the bank and directing them to the beneficiaries of its services in order to achieve the goals of social development.

Seventh: Working to encourage thrift and savings for individuals and institutions in the Kingdom, and creating tools and programs that achieve this goal.

Eighth: Developing and nurturing the micro-enterprise sector in a way that enhances its role in economic and social development.

Origin and establishment

A royal decision was issued to establish the bank under the name “Credit Bank” and with a capital
An amount of 5 million riyals to provide social loans

Know more about the bank

Bank strategy

In line with the Bank’s role in social development, its plans and strategies have been formulated to unify efforts and achieve the goals and programs of the Kingdom’s Vision 2030.

Bank budget

The Social Development Bank's budget is approved accurately and continuously, which enhances the bank's objectives

Bank partners

The Bank is keen to weave threads of partnership between itself and the governmental and private sectors and international organizations

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