Riyadh - Mubasher: International Human Resources Company (IHR) has renewed and amended its Sharia-compliant credit facility totaling SAR 30 million with Al Rajhi Bank for one year.

The company will use SAR 27.50 million to boost its working capital and SAR 2.50 million for letters of guarantee required for contracts and projects, according to a bourse filing.

The loan is secured by a promissory note for SAR 30.61 million and a waiver of project revenues covering 125% of the financing.

In the first half (H1) of 2025, IHR posted net profits valued at SAR 4.83 million, higher by 47.67% year-on-year (YoY) than SAR 3.27 million.

Revenues leapt by 88.05% YoY to SAR 143.83 million during the January-June 2025 period from SAR 76.48 million. Meanwhile, earnings per share (EPS) went up to SAR 0.10 from SAR 0.07.

In the first six months (6M) of 2025, Al Rajhi Bank logged an annual surge of 32.45% in net profits to SAR 12.05 billion, versus SAR 9.10 billion in H1-24.