Investor Presentation
Profile / Strategy / Sustainability / Environment / Financials / Appendix
KSA Economic Growth
Saudi growth is lagging and driven by the private sector
The real economy grew by 1.2% YoY in the Second Quarter of 2023, driven by 6.1% increase in non-oil activities while oil activities
declined by 4.3%.
Real GDP is running below trend in Q2 pushing inflation pressures to
ease.
Real Non-oil Private GDP for Q2 expanded by 6.1% in line with Riyad Bank
PMI reading for the same period.
Real GDP (SAR billions)
800
750
700
650
600
550
Non-oil Private GDP Growth
3.8% Q1
61
59
57
1.2% Q2
Riyad Bank PMI
55
53
51
49
47
45
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022 2023
Real GDP
Trend
Real GDP Growth (%)
2Q-23
-1000bps
1.2
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2018
2019
2020
2021
PMI Index
Non Oil GDP
2022
2023
20%
15%
10%
5%
0%
-5%
-10%
-15%
Riyad Bank PMI
2Q-22
Sep-23
-4.0%
Jun-23
REPO Rate (%)
Repo
RRepo
Money Supply (YoY)
Sep-23 -1.1ppt
Jun-23
Credit Growth (YoY)
Sep-23
-0.37bps
Jun-23
Fiscal Balance (SARbn)
Sep-23
-30.5Bn
Jun-23
11.2
57.2
59.6
6.0
5.5
8.0% 9.1%
9.9% 10.2%
-35.7
-5.2
Riyad Bank - Investor Presentation - 30/09/23
Sources: GASTAT, Riyad Bank
General Business
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