Saudi Home Loans logs higher profits in H1-24 initial results

A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020. Ahmed Yosri

Earnings per share (EPS) reached SAR 0.11 as of 30 June 2024, versus SAR 0.05 in H1-23, according to the interim financials

Staff Writer, Mubasher

August 7, 2024

PHOTO
A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020. Ahmed Yosri

Saudi Home Loans Company (SHL) recorded net profits amounting to SAR 10.65 million in the first half (H1) of 2024, down 111.32% year-on-year (YoY) from SAR 5.04 million.

Earnings per share (EPS) reached SAR 0.11 as of 30 June 2024, versus SAR 0.05 in H1-23, according to the interim financials.

Total assets climbed by 3.36% YoY to SAR 4.45 billion in H1-24 from SAR 4.30 billion, while the investments remained unchanged at SAR 893,000.

Financial Results for Q2-24

In the second quarter (Q2) of 2024, the company's net profits stood at SAR 6.04 million, an annual hike of 132.75% from SAR 2.59 million.

Quarterly, the Q2-24 net profits surged by 30.90% from SAR 4.61 million in the January-March 2024 period.

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