Riyadh –  Saudi Home Loans Company (SHL) posted net profits worth SAR 9.81 million in the first nine months (9M) of 2023, an annual plunge of 87.74% from SAR 80.04 million.

Earnings per share (EPS) hit SAR 0.10 as of 30 September 2023, lower year-on-year (YoY) than SAR 0.80, according to the initial financial results.

Assets edged down by 0.44% to SAR 4.36 billion in 9M-23 from SAR 4.38 billion in 9M-22, while the investments remained at SAR 892.85 million.

The loans and advances portfolio reached SAR 4.11 billion during the January- September 2023 period, marking a 0.37% YoY drop from SAR 4.13 billion.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, the Saudi firm witnessed 70.89% YoY lower net profits at SAR 4.76 million, compared to SAR 16.38 million.

On a quarterly basis, the Q3-23 profits hiked by 83.74% from the SAR 2.59 million registered in Q2-23.

During the January-March 2023 period, the net profits of Saudi Home Loans retreated by 92.44% to SAR 2.44 million from SAR 32.35 million a year earlier.

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