The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Middle East's best bank for SMEs 2020: Riyad Bank

Awards for Excellence 2020

A great deal of resources have been dedicated to small and medium enterprises in Saudi Arabia as the kingdom looks to increase SME’s contribution to GDP from 20% to 35% under its Vision 2030 programme

In Saudi Arabia, 99% of private-sector companies are SMEs, although the sector lags behind regional and global peers in terms of size and value. Saudi SMEs contribute around 20% of GDP compared with 53% in the UAE and 45% on average among countries worldwide, according to research by Castlereagh Associates. 

SMEs are expected to play a vital role in diversifying the economy away from oil and to provide employment for Saudi’s young population. In March 2020 the government announced SR50 billion ($13.3

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree