Riyadh - Mubasher: SHL Finance Company has renewed two Sharia-compliant banking facilities totaling SAR 537 million with Bank Aljazira and the Saudi National Bank (SNB).
The company secured SAR 275 million and SAR 262 million from Bank Aljazira for five years and SNB for a ten-year duration, respectively, according to two separate bourse filings.
The agreements are backed by a promissory note and receivables provided as security to the financing entities.
SHL Finance indicated that the renewals aim to expand and boost sales through new loans granted to customers, backing its strategy and future plans.
In the first half (H1) of 2025, SHL Finance achieved 144.19% higher net profits valued at SAR 26.01 million, versus SAR 10.65 million in H1-24.
As of 30 June 2025, SNB recorded net profits valued at SAR 12.15 billion, while the net profits of Bank Aljazira reached SAR 743.10 million.
