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Nayifat Finance names Al Baiz as Managing Director, CEO

Nayifat Finance names Al Baiz as Managing Director, CEO
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NAYIFAT
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Riyadh – Mubasher: Nayifat Finance Company has appointed Bandar Mohammed Ahmed Al Baiz as its new Managing Director and CEO, according to a bourse filing on Tuesday.

Al Baiz succeeded Abdulmohsen Abdulrahman Musaed Al Sowailem, who submitted his resignation last May due to personal reasons.

In the January-June 2022 period, the company’s net profits after Zakat and tax plunged by 19.61% to SAR 93.26 million, compared to SAR 116.02 million in the year-ago period.

Nayifat Finance generated revenues worth SAR 193 million in the first half (H1) of 2022, an annual slide of 1.75% from SAR 196.44 million.

Moreover, earnings per share (EPS) plummeted to SAR 0.93 in H1-22 from SAR 1.16 in H1-21.