Nayifat’s profit up 48% to SAR 131.2M in 2024; Q4 at SAR 36.8M

20/02/2025 Argaam Exclusive

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Nayifat Finance Co. witnessed a 48% profit increase to SAR 131.2 million in 2024, compared to SAR 88.7 million in the year before.

Financials (M)

Item	2023	2024	Change‬
Net income from finance commissions	346.64	319.24	(7.9 %)
Net Income	88.71	131.24	47.9 %
Average Shares	120.00	120.00	-
Earnings Per Share before unusual items (Riyals)	0.74	1.09	47.9 %
EPS (Riyals)	0.74	1.09	47.9 %

Operating profit jumped on a decrease in the net expected credit loss allowance, which followed an improvement in write off recoveries.

On the other hand, revenues declined mainly on lower consumer finance commission income due to higher suspended income from non-performing clients.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Net income from finance commissions	81.53	83.45	2.4 %
Net Income	15.87	36.82	132.0 %
Average Shares	120.00	120.00	-
Earnings Per Share before unusual items (Riyals)	0.13	0.31	132.0 %
EPS (Riyals)	0.13	0.31	132.0 %

Item	Q3 2024	Q4 2024	Change‬
Net income from finance commissions	92.94	83.45	(10.2 %)
Net Income	38.92	36.82	(5.4 %)
Average Shares	120.00	120.00	-
Earnings Per Share before unusual items (Riyals)	0.32	0.31	(5.4 %)
EPS (Riyals)	0.32	0.31	(5.4 %)

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