SHL Finance renews $509mln Sharia-compliant deal with Saudi's ANB
Riyadh – SHL Finance Company has renewed its SAR 1.91 billion Sharia-compliant credit facilities agreement with Arab National Bank (ANB) for five years, according to a bourse disclosure.
The funding, which was obtained on 23 March 2025, aims to support SHL Finance's expansion strategy and boost sales volume, aligning with the company's long-term growth vision.
The facilities agreement is secured by a promissory note for the full amount of the funding, in addition to an assignment of receivables covering 105% of the outstanding balance of the facilities.
It is worth noting that in 2024, SHL Finance reported a 1,040.50% annual jump in net profit after Zakat and income tax to SAR 26.52 million from SAR 2.32 million.
On the other hand, ANB recorded a net profit of SAR 4.96 billion in 2024, reflecting a 21.98% year-on-year (YoY) increase from SAR 4.07 billion.
Source: Mubasher
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