Riyadh – Mubasher: Dr. Sulaiman Al Habib Medical Services Group secured a credit facilities agreement valued at SAR 1.30 billion with Al Rajhi Bank, according to a bourse disclosure.

The Saudi group obtained the loan, on 29 September 2024, to finance its projects, including Sehat Al Hamra Hospital, Women’s Health Hospital, Sehat Alkharj Hospital, and the Medical Centers affiliated with Al Marakez Al Awwalyah for Healthcare Company.

Holding a tenor of 13 years, the financing deal is secured by a promissory note worth the amount of the funding.

 In the first half (H1) of 2024, Dr. Sulaiman Al Habib recorded 13.28% higher net profits at SAR 1.10 billion, compared to SAR 976.24 million in H1-23.

As of 30 June 2024, Al Rajhi Bank logged net profits valued at SAR 9.10 billion, up 9.74% year-on-year (YoY) from SAR 8.29 billion.