Latest news with #SHLFinanceCompany
Zawya
05-05-2025
- Business
- Zawya
Saudi: SHL Finance's profits leap to $4mln in Q1-25
Riyadh – SHL Finance Company achieved net profits valued at SAR 14.08 million in the first quarter (Q1) of 2025, higher by 205.288% year-on-year (YoY) than SAR 4.61 million. The company's assets grew by 1.88% to SAR 4.51 billion in Q1-25 from SAR 4.24 billion a year earlier, according to the financial results. SHL Finance reported investments amounting to SAR 893,000 in the first three months (3M) of 2025. Earnings per share (EPS) amounted to SAR 0.14 as of 31 March 2025, versus SAR 0.04 in Q1-24. Quarterly, the Q1-25 net profits hiked by 11.43% from SAR 12.64 million in Q4-24. In 2024, the Saudi group recorded 1,040% YoY higher net profits at SAR 26.52 million, compared to SAR 2.32 million. Source: Mubasher
Zawya
03-04-2025
- Business
- Zawya
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
Zawya
13-03-2025
- Business
- Zawya
SHL Finance witnesses over 1,000% jump in 2024 net profit
Riyadh – SHL Finance Company posted a surge of 1,040.50% in net profit after Zakat and income tax to SAR 26.52 million during 2024 compared to SAR 2.32 million in 2023. The earnings per share (EPS) went up to SAR 0.27 in 2024 from SAR 0.02 in the previous year, according to the financial results. The total assets increased by 2.97% to SAR 4.51 billion in 2024, compared with SAR 4.38 billion in 2023. SHL Finance stated: 'The company achieved a total income from special financing commissions during the current year amounting to SAR 359.50 million, compared to SAR 305.50 million for the previous year, with an increase of 17.67%. This improvement is due to the increase in profit rates on new loans as well as the growth in the size of the financing portfolio.' In the first nine months (9M) of 2024, SHL Finance recorded net profits worth SAR 15.76 million while its total assets hit SAR 4.52 billion as of 30 September. Source: Mubasher
