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Amlak International renews SAR 864.5m loan deal with SAIB

Amlak International renews SAR 864.5m loan deal with SAIB
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SAIB
1030.B
-0.70% 17.04 -0.12
AMLAK
1182
-7.53% 11.30 -0.92
Default Company
7204.B
0.00% 0.00 0.00

Riyadh – Mubasher: Amlak International Finance Company has renewed the SAR 864.50 million one-year credit facility agreement with the Saudi Investment Bank (SAIB).

The Sharia-compliant loan will be used to facilitate the company's business and increase its ability to finance clients, according to a bourse filing.

The funding was obtained on 21 April 2024. 

Amlak International Finance registered a 67.12% year-on-year (YoY) decline in net profit to SAR 31.80 million in 2023 from SAR 96.72 million.