Latest news with #NayifatFinance
Zawya
31-07-2025
- Business
- Zawya
Mideast Stocks: Gulf markets muted as earnings disappoint, Fed signals caution on rates
Major Gulf equities were mostly flat to lower early on Thursday, pressured by lacklustre corporate earnings and a more cautious U.S. Federal Reserve stance on monetary easing, after it held interest rates steady and offered little indication of when borrowing costs might be lowered. The prospect of U.S. rates staying higher for longer clouded investor sentiment across Gulf markets, where monetary policy tends to track the Fed due to currency pegs. Saudi Arabia's benchmark index eased 0.4%, dragged down by broad-based sectoral declines as a string of underwhelming earnings weighed on sentiment. Shares of Yamama Cement fell more than 1% after its second-quarter earnings missed expectations, while Nayifat Finance dropped 2.4% following a nearly 60% year-on-year plunge in Q2 profit. National Gas and Industrialization Co and Saudi Telecom each shed 1.6% as their shares began trading ex-dividend. Meanwhile, flash estimates from the General Authority for Statistics showed Saudi Arabia's real GDP rose 3.9% in the second quarter compared with a year earlier, supported by growth in the non-oil sector as the kingdom continues efforts to diversify its economy. Dubai's main share index slid 0.5%, pulling back from a near two-decade peak in the previous session, led by a 3% fall in Mashreqbank after posting a 17% year-on-year decline in second-quarter earnings. Tecom Group was down 1.5% ahead of the release of its quarterly earnings later in the day. The Abu Dhabi index was little changed and Qatar's benchmark also held steady as investors refrained from placing bigger bets ahead of key earnings announcements. Qatari telecoms firm Ooredoo outperformed, gaining 1.6% after reporting positive second-quarter results and holding its full-year guidance steady.
Zawya
08-07-2025
- Business
- Zawya
Saudi: Nayifat Finance rolls out 5-year strategy to drive sustainable growth
Riyadh - Nayifat Finance Company has launched its new five-year strategy until 2030, planning to foster its position in the financing sector and actively contribute to achieving the goals of Saudi Vision 2030. The company aims to enable individuals and small and medium enterprises (SMEs) to access innovative financial solutions easily and efficiently, according to a bourse statement. The new strategy focuses on achieving sustainable portfolio growth by expanding financing products, targeting individuals and SMEs to deliver stable returns for shareholders. Moreover, the company intends to strengthen market share and competitiveness by widening its customer base and entering new market segments. Nayifat Finance will develop innovative financial products and services that meet evolving market needs, enhancing competitiveness and market positioning now and in the future. It will also boost investments in digital transformation and cope with technological trends, while adapting to fintech solutions to improve customer experience. The Saudi group seeks to elevate operational efficiency and streamline processes across business sectors to support sustainable future growth. In addition, the Tadawul-listed firm plans to stimulate sustainable profit margins by improving risk-based financing and enhancing credit quality, while maintaining competitiveness and supporting future growth. Finally, the company will empower human capital, bolstering a high-performance corporate culture and providing an attractive work environment that empowers national talent to innovate and excel. At the end of March 2025, Nayifat Finance recorded 37.07% higher net profit at SAR 23.54 million, versus SAR 17.17 million in the same period a year ago. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
30-06-2025
- Business
- Zawya
Saudi: Nayifat Finance unveils dividends for Q4-24, Q1-25
Riyadh - The board of Nayifat Finance Company approved cash dividends valued at SAR 39.28 million, representing 3.30% of the company's SAR 1.20 billion capital, for the fourth quarter (Q4) of 2024 and Q1-25. The Saudi-listed firm will distribute a dividend of SAR 0.33 per share for 119.04 million eligible shares, according to a bourse disclosure. The eligibility and distribution dates for the dividends are set to be 10 and 29 July 2025, respectively. As of 31 March 2025, Nayifat Finance logged 37.07% higher net profit at SAR 23.54 million, versus SAR 17.17 million in the same period a year ago. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Argaam
22-05-2025
- Business
- Argaam
Nayifat appoints Khalid AlJenaidel as Acting CEO
Nayifat Finance board of directors decided, on May 19, to appoint Khalid AlJenaidel as Acting CEO for a period of six months effective from May 28, 2025. In a statement to Tadawul, the company said that the decision came after obtaining the no-objection from the Saudi Central Bank (SAMA). AlJenaidel, currently CFO at Nayifat, has over 24 years of experience in banking and financial institutions sectors. He has held several leadership positions in the field of financial management, risk management, and treasury, most recently as CFO of Saudi Fransi For Finance Leasing (JB), the statement added. He holds a Bachelor's degree in International Business Administration and the Executive Development Program for Executives from the London Business School, in addition to a number of certificates in leadership and management. Nayifat's board recently accepted the resignation of CEO Fahad Al-Mufarrej, who decided not to renew his contract for personal reasons. His final working day will be May 28, 2025, Argaam earlier reported.
