Nayifat 9M 2024 profit leaps 30% to SAR 94.4M; Q3 at SAR 38.9M

29/10/2024 Argaam Exclusive

View other reports

Nayifat Finance Co. reported a net profit of SAR 94.4 million in the first nine months of 2024, a leap of 30% from SAR 72.8 million in the year-earlier period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Net income from finance commissions	198.88	167.31	(15.9 %)
Net Income	72.84	94.42	29.6 %
Average Shares	120.00	120.00	-
EPS (Riyals)	0.61	0.79	29.6 %

The profit growth was attributed to a decrease in net credit impairment charges and derived by an enhanced collection and write off recoveries.

However, the company recorded lower revenues from credit cards and consumer finance as a result of portfolio segmentation mix.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Net income from finance commissions	64.05	56.73	(11.4 %)
Net Income	19.14	38.92	103.4 %
Average Shares	120.00	120.00	-
EPS (Riyals)	0.16	0.32	103.4 %

Item	Q2 2024	Q3 2024	Change‬
Net income from finance commissions	61.38	56.73	(7.6 %)
Net Income	38.32	38.92	1.6 %
Average Shares	120.00	120.00	-
EPS (Riyals)	0.32	0.32	1.6 %

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×