SHL earns SAR 26.5M in 2024, SAR 10.8M in Q4

11/03/2025 Argaam Exclusive

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SHL Finance Co.’s net earnings surged to SAR 26.5 million by the end of 2024, compared to SAR 2.3 million in 2023.

Financials (M)

Item	2023	2024	Change‬
Net income from finance commissions	117.65	150.27	27.7 %
Net Income	2.33	26.53	1040.3 %
Average Shares	100.00	100.00	-
Earnings Per Share before unusual items (Riyals)	0.04	0.27	554.4 %
EPS (Riyals)	0.02	0.27	1040.3 %

The annual profit growth was attributed to the increase in gross special commission income on financing, which rose by 17.67% to SAR 359.5 million in 2024, compared to SAR 305.5 million in the previous year.

This increase was driven by higher lending interest and the expanded financing portfolio.

This came despite recognizing a reversal of net expected credit loss provisions of SAR 5.38 billion in 2024, compared to SAR 3.66 billion in 2023.

In Q4 2024, SHL turned to profits of SAR 10.76 million, from losses of SAR 7.5 million in Q4 2023.

Sequentially, the company’s bottom line more than doubled from SAR 5.11 million in Q3 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Net income from finance commissions	22.29	42.35	90.0 %
Net Income	(7.48)	10.76	243.8 %
Average Shares	100.00	100.00	-
Earnings Per Share before unusual items (Riyals)	0.02	0.11	471.7 %
EPS (Riyals)	(0.07)	0.11	243.8 %

Item	Q3 2024	Q4 2024	Change‬
Net income from finance commissions	36.09	42.35	17.3 %
Net Income	5.11	10.76	110.5 %
Average Shares	100.00	100.00	-
Earnings Per Share before unusual items (Riyals)	0.05	0.11	110.5 %
EPS (Riyals)	0.05	0.11	110.5 %

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