Riyad Bank was recognized as the top supporter of Kafalah Program among all Saudi banks in the third and fourth quarters of last year, in terms of the number of enterprises according to the official numbers and statistics issued by the program. This accomplishment is added to the series of successes by the Bank in various fields and sectors.
<p>Riyad Bank was recognized as the top supporter of Kafalah Program among all Saudi banks in the third and fourth quarters of last year, in terms of the number of enterprises according to the official numbers and statistics issued by the program. This accomplishment is added to the series of successes by the Bank in various fields and sectors.</p><p>According to numbers, Riyad Bank has become one of the biggest supporters of the Small and Medium-sized Enterprises sector throughout the third and fourth quarters in terms of number of enterprises which reached (277), with a large margin of lead over other banks. The financing amount exceeded SAR 554 million, where 417 guarantees have been issued with a total of SAR 275 million.</p><p>Melwah Al-Subei, the Commercial Banking Department Manager at Riyad Bank, said: "Riyad Bank being the top supporter was not a coincidence; it comes as a result of professional performance and a remarkable record in financing the small and medium sized enterprises since the program was launched in 2006 and until the end of 2016.”</p><p>Al-Subei mentioned that Riyad Bank provides, through the program, a vast collection of financing choices and solutions especially designed to meet the needs of the small and medium enterprises which might encounter difficulties in funding through conventional banking channels.</p>
