Social Development Bank Reports SAR 4.3 Billion Financing Benefiting Over 43,000 Citizens In H1 2025

The Social Development Bank recently conducted its second-quarter meeting for 2025, led by Eng. Ahmed Al-Rajhi, Minister of Human Resources and Social Development. The board members were present to discuss various agenda items aimed at enhancing national efforts to serve citizens and support the Kingdom's development ecosystem.

During the first half of the year, the bank's performance report highlighted a commitment to fostering entrepreneurship and developing innovative business models. Total financing reached SAR4.3 billion, positively impacting over 43,000 citizens across Saudi Arabia. This funding included SAR1.8 billion for freelancers and productive families, benefiting more than 18,000 individuals.

Over SAR1.5 billion was allocated to small and emerging enterprises, supporting 5,000 businesses. Additionally, SAR1 billion in social financing reached approximately 20,000 citizens. These efforts reflect the bank’s strategic direction in empowering individuals and enterprises while unlocking citizens' potential.

The report also noted the creation of 40,000 new savings accounts by mid-year. This underscores the bank's efforts to empower beneficiaries in financial planning and saving. Various initiatives and services were highlighted, including platforms like "Dulani Business Center" and "Jadah 30," which host over 4,000 businesses.

More than 150,000 individuals have benefited from these programs across the bank’s 13 branches throughout Saudi Arabia. Eng. Al-Rajhi expressed appreciation for the continuous support provided by the wise leadership for national development efforts.

The board praised the bank for marking its 53rd anniversary successfully and inaugurating "Jadah 30" at its headquarters in Riyadh. This event was attended by Governor of Riyadh Region Prince Faisal bin Bandar bin Abdulaziz and included signing significant development agreements with the nonprofit sector.

Development Agreements and Launches

These agreements aim to create a financing portfolio dedicated to promoting nonprofit sustainability. Additional agreements were established with several banks to develop financing portfolios for entrepreneurs and emerging enterprises.

The event also saw the launch of the Freelancer Card, designed to support freelance professionals by improving their access to financial solutions and banking services.

Leadership Support and Achievements

CEO of the Social Development Bank Eng. Sultan Al-Humaidi affirmed that these achievements embody the bank’s pivotal role in advancing national development through targeted financing initiatives for diverse segments of society.

He praised the generous support of King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud. Their backing has enabled the bank to continue empowering entrepreneurs while contributing to Saudi Arabia’s economic growth.

With inputs from SPA