Major players operating KSA Lending market - Ken Research

1. KSA's Lending Market Expected to Reach PHP 67 Bn by 2027, Driven by 4 Key Catalysts: Ken Research Buy Now Storyline 1.KSA's private consumption expenditure has risen, indicating improved living standards and reduced poverty. 2.Demographic factors influence lending preferences, with under-24 individuals seeking credit for education and ventures, while 25-54 age group seeks loans for homes and cars. 3.Islamic finance has gained popularity, catering to KSA's predominantly Muslim population. 4.Digital banking has reshaped the lending landscape, reducing the need for physical bank branches. The KSA lending market has shown outstanding growth potential, driven by various catalysts that have fueled the financial landscape in the country. From consumption expenditure trends to the preferences of different age groups, along with the increasing popularity of Islamic finance and the transformative impact of digital banking, these factors have propelled the lending market forward. 1. KSA Consumption Expenditure Trends For more information, request a free sample Report KSA’s private consumption expenditure has been following an increasing trend and rose by 26.7% from Oct 2020 to Oct 2022. An increase in private final consumption is usually indicative of a rise in standard of living of people in the society, and a decrease in levels of poverty. Consumption expenditure growth has been rising through the last decade.

2. As KSA’s personal expenditure is on rise, a need for short term and long term loans by individuals also increases. Therefore leading to growth in overall KSA Lending market. 2. Youth: Credit for knowledge and ventures. Adults: Loans for homes and wheels. People under the age of 24 taking credit for education and starting businesses while those between 25-54 seeking loans to buy homes and cars KSA has 4% of its citizens under the age of 24 leading to increased demand for credit for education and starting businesses. The population within the age range of 25-54 covers more than half of the population and seeks loans to finance the purchase homes and cars. These needs of starting a business or buying a new car/house, all of which requires loans to integrate it. Thereby fueling the lending market in KSA. 3. Islamic finance has gained popularity

3. Visit A link Request for Custom Report Islamic finance has become increasingly popular in KSA, among the country's large Muslim population (2% of the total population). Islamic finances: Sharia-compliant mortgages, etc. have seen increased demand. To get a Sharia-compliant mortgages one needs - To qualify for a Sharia mortgage, you'll typically need a deposit of between 10% and 35% of the property's value. That said, it might be possible to find home purchase plans that need as little as a 5% deposit. 5. Banking in KSA: More Credit, Fewer Branches - Digital Surge Rewrites the Rules The increase use of digital banking and online services has diminished the need for physical bank branches. Customers are increasingly using online and mobile banking services for day-to-day transactions like - transferring money to vendors, shopping, checking bank balance etc. This trend has accelerated during the COVID-19 pandemic, with many customers avoiding in- person banking to reduce the risk of infection According to Ken Research, the KSA Lending market continues to expand, four key catalysts have contributed to its rise. Individual consumption trends, the borrowing trends in different age groups, the increasing popularity of Islamic finance, and the adoption of digital banking are all the major catalyst to the expanding in market. Customers are increasingly turning away from traditional bank branches in favour of the ease and accessibility provided by digital platforms.

4. These forces are altering the lending market, opening up new opportunities and posing new problems for Saudi financial institutions. For more insights on market intelligence, refer to the link below: – KSA lending market