Amlak International renews $230.53mln loan deal with Saudi Investment Bank

Getty Images

The Sharia-compliant loan will be used to facilitate the company's business and increase its ability to finance clients

Staff Writer, Mubasher

April 22, 2024

PHOTO

Riyadh – Amlak International Finance Company has renewed the SAR 864.50 million one-year credit facility agreement with the Saudi Investment Bank (SAIB).

The Sharia-compliant loan will be used to facilitate the company's business and increase its ability to finance clients, according to a bourse filing.

The funding was obtained on 21 April 2024.

Amlak International Finance registered a 67.12% year-on-year (YoY) decline in net profit to SAR 31.80 million in 2023 from SAR 96.72 million.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.