Saudi banks’ credit card loans surge 14%, reach a record high of $8.07bn

RIYADH: Credit card loans by Saudi banks hit a record high of SR30.27 billion ($8.07 billion) in the third quarter of 2024, according to recent data.

Figures by the Saudi Central Bank, also known as SAMA, showed that this marked a 14.24 percent rise compared to the same period last year.

Consumer loans, excluding real estate financing, finance leasing, and margin lending, reached SR462.29 billion, reflecting a 4.01 percent increase. 

Among these, education lending experienced the highest growth, rising by 16 percent to SR8.24 billion.

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