Saudi Home Loans’ profits up 10% in Q1-22 initial financials

Riyadh – Saudi Home Loans Company (SHL) has logged net profits after Zakat and tax of SAR 32.35 million during the first quarter (Q1) of 2022, an annual increase of 9.79% from SAR 29.47 million.

In the first three months (3M) of 2022, the earnings per share (EPS) stood at SAR 0.32, higher than SAR 0.29 in the year-ago period, according to a bourse disclosure on Sunday.

Meanwhile, assets went down by 2.56% to SAR 4.39 billion in Q1-22, versus SAR 4.50 billion in Q1-21.

The Saudi listed company’s investments totalled SAR 892,850 in the January-March 2022 period, the same value that was registered in Q1-21.

On a quarterly basis, the net profits in Q1-22 surged by 61.03% from SAR 20.09 million in Q4-21.

It is worth noting that Saudi Home Loans started the listing and trading of its shares on the Main Market of the Saudi Exchange (Tadawul) on 20 April this year.