Waja obtains $6.6mln loan from Riyad Bank

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The firm will use the loan to issue bank letters of guarantee for projects, according to a bourse disclosure

Staff Writer, Mubasher

December 27, 2023

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Waja Company renewed a credit facilities agreement compatible with the provisions of Islamic Sharia with Riyad Bank at a value of SAR 25.05 million.

The firm will use the loan to issue bank letters of guarantee for projects, according to a bourse disclosure.

The facility deal is secured by a promissory note from the company and is valid for one year.

Last October, the multi-sector Saudi Joint-stock firm obtained a SAR 9 million loan from Al Rajhi Bank.

During the first nine months (9M) of 2023, Riyad Bank posted an annual increase of 22.03% in net profit to SAR 6.09 billion, compared to SAR 4.99 billion.

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