Between 2013 and 2023, the number of depositors at commercial banks in Saudi Arabia has shown a steady increase, moving from 735.11 to 1520.0 persons per thousand persons. The year-on-year variation has been relatively consistent, with a notable uptick during certain years such as 2015 (14.03%) and 2021 (8.48%). The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 stands at 7.17%, indicating steady growth.
Looking forward to the future, the forecast data from 2024 to 2028 suggests a moderate growth trend with an expected 5-year CAGR of 2.81% and an overall growth rate of 14.84%. This suggests a slowdown compared to previous years but still indicates positive growth.
Future trends to watch for:
- Potential economic factors that could impact depositor behavior.
- Technological advancements in banking infrastructure encouraging depositor growth.
- Government policies aimed at promoting financial inclusion.
- Consumer confidence levels influencing deposit rates.
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