Riyadh – Mubasher: SHL Finance Company signed a Sharia-compliant banking facility agreement with Emirates NBD valued at SAR 200 million.

The company secured the loan on 5 February to expand and increase its sales volume in line with its growth strategy and future plans, according to a bourse disclosure.

The facility deal is guaranteed by a promissory note and assignment of receivables

As of 30 September 2024, the net profit of SHL Finance hiked by 60.72% year-on-year (YoY) to SAR 15.76 million from SAR 9.81 million.

Emirates NBD recently unveiled its annual financial results, recording net profits after tax of AED 23 billion in 2024, marking a 7% year-on-year (YoY) rise from AED 21.52 billion.