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.
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 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
Market Trends & Developments
Consumer Finance Approval through Online Channels
Demand for Sharia-Compliant Consumer Finance Products
Changing Borrowing Patterns due to Increasing Cost of Living
Policy Developments for Foreign Banks' Participation