Riyadh – Mubasher: Saudi Home Loans Company (SHL) registered SAR 2.32 million in net profit during 2023, lower by 97.57% year-on-year (YoY) than SAR 95.88 million.
The earnings per share (EPS) plummeted to SAR 0.02 last year from SAR 0.96 in 2022, according to the income statements.
The company achieved a total income from special commissions from the financing of SAR 300.50 million in 2023, higher by 13.10% than SAR 265.70 million in 2022. This is attributed to the growth in the financing portfolio at higher annual returns with the diversification of new financing products.
As of 31 December 2023, the assets grew by 1.26% YoY to SAR 4.38 billion from SAR 4.32 billion, while the investments were kept unchanged at SAR 892,850.
The Saudi firm posted a loans and advances portfolio amounting to SAR 4.19 billion in 2023, an annual rise of 1.50% from SAR 4.13 billion.
In the January-September 2023 period, the listed company achieved net profits worth SAR 9.81 million, down 87.74% from SAR 80.04 million a year earlier.
