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

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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.