Social Development Bank Exceeds SAR1.7 Billion in Financing in Q1 2025
Social Development Bank Provides SAR2.3 Billion as Funds in 3rd Quarter of 2023 to Support Economic Development
The Social Development Bank (SDB) held its regular meeting for the first quarter of 2025, chaired by Minister of Human Resources and Social Development (MHRSD), Chairman of SDB’s Board of Directors Ahmed Al-Rajhi, and in the presence of the board members.
The meeting reviewed SDB’s performance during the first quarter and discussed several topics that contribute to enhancing SDB’s developmental services, as per a recent SDB press release.
During the meeting, SDB presented its efforts to empower individuals and small and emerging enterprises through sustainable financial solutions.
The total financing during the first quarter exceeded SAR1.7 billion, benefiting more than 20,000 citizens and enterprises. The total financing for entrepreneurs and owners of emerging enterprises amounted to SAR505 million, benefiting more than 1,800 enterprises.
Regarding social financing, SDB stated that the total financing during the first quarter reached SAR504 million, benefiting more than 9,800 citizens through marriage, family support, and home renovation products.
The number of beneficiaries from freelance and families working in the cottage industry financing reached 8,500, with total financing exceeding SAR670 million, achieving a growth rate of 329% compared to the previous quarter of last year.
As part of promoting a savings culture, approximately 17,000 new savers joined the “Zod Savings” program during this quarter, bringing the total number of supported savers since the program’s launch to 250,000 citizens, with total savings exceeding SAR550 million in their savings accounts. In addition, 18,000 entrepreneurs benefited from empowerment and development services, including capacity-building programs, specialized and quality training, as well as access-to-market support.