Riyadh – Sharikat Mubasher: Modhie AlShammary, Head of SME Banking at Riyad Bank, confirmed that the bank was among the first financial institutions in Saudi Arabia to establish a dedicated SME financing division in 2005. He told Al Arabiya Business, during the Biban 25 conference, that the bank has since launched several tailored financing programs to support this vital sector.
He noted that the bank has built strategic partnerships with government entities such as Monsha’at, along with funding bodies including the Tourism Development Fund and the Kafalah program. This institutional collaboration contributed to growing the bank’s SME financing portfolio to over SAR 100 billion, making it the largest financier of the sector in the Kingdom.
AlShammary added that Riyad Bank has set up more than 26 specialized centers to finance and empower SME owners. These centers are staffed with highly qualified relationship managers and consultants who offer advisory support on financing options and best practices in imports, exports, and e-commerce.
He emphasized that the bank works closely with public and private entities to diversify its financing portfolio and respond to market needs, adding that its future strategy is built on two pillars: digital transformation and qualitative expansion. Riyad Bank is also preparing next-generation digital platforms and smart solutions to improve customer experience, reaffirming its commitment to sustaining leadership in SME financing as part of its belief that the prosperity of this sector drives national economic growth.
