Elm secures $506mln loan from SNB
The Saudi company aims to finance corporate expansion and acquisitions, according to a bourse disclosure.
Meanwhile, the five-year financing deal is secured by a promissory note.
In the 12-month period that ended on 31 December 2024, Elm posted 34.66% higher consolidated net profits after tax at SAR 1.82 billion, compared to SAR 1.35 billion in 2023.
The bank's net profits jumped by 5.91% to SAR 21.19 billion last year from SAR 20.01 billion in 2023.
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