High demand for residential houses from expatriates entering the country, rising land prices, increasing number of initiatives by government to strengthen the financial system and aggressive marketing strategies by banks to provide low interest rate consumer finance products are projected to drive the consumer finance market in Saudi Arabia through the next five years. Increasing population and rising demand for technologically advanced and luxurious consumer durable products are among the other major factor anticipated to boost consumer finance market in the country during 2017 - 2022. Al Rajhi Banking & Investment Corporation, National Commercial Bank, Riyad Bank are the major entities involved in offering a wide range of consumer finance products in the country.
According to “Saudi Arabia Consumer Finance Market By Type, Competition Forecast & Opportunities, 2012-2022”, the consumer finance market across the country is anticipated to grow to $ 344 billion by 2022. Unsecured consumer finance held a majority share in the country’s consumer finance market in 2016, and it is anticipated that unsecured consumer finance products such as personal loans and credit cards would be the highest demand generators among all segments of consumer finance during the forecast period. The country’s Northern & Central region has emerged as the highest demand generator of consumer finance over the last five years, followed by Western, Eastern and Southern regions. “Saudi Arabia Consumer Finance Market By Type, Competition Forecast & Opportunities, 2012-2022” discusses the following aspects of consumer finance market across the globe:
- Saudi Arabia Consumer Finance Market Size, Share & Forecast
- Segmental Analysis – (Unsecured Consumer Finance - Personal Loan, Home Improvement Loan, Credit Card, Consumer Durable Finance, Education Loan and Other Unsecured Consumer Finance; and Secured Consumer Finance - Collateral Loan, Housing Loan and Auto Loan)
- Policy & Regulatory Landscape
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report
- To gain an in-depth understanding of consumer finance across the country
- To identify the on-going trends and anticipated growth in the next five years
- To help financial institutions, banks and other stakeholders align their market-centric strategies
- To obtain research based business decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading market players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based upon both primary and secondary research. Primary research included interviews with public and private financial institutions operating in the consumer finance market. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.