Saudi Mortgage Profits Decline to $21.79m at 9M-22

Riyadh – Saudi Home Loans Company’s (SHL) net profit fell by 3.68% to SAR 80.04 million in the first nine months of 2022 (9M).

Initial financial results show earnings per share (EPS) for the period January to September 2022 of 0.80 Saudi Rand, lower than 0.83 Saudi Rand in the same period last year.

9M-22’s assets decreased by 0.17% year-on-year (YoY) from 4.388 billion SAR to 4.38 billion SAR. Meanwhile, investment amounted to 892.85 million SAR for his 9M-22, unchanged from 9M-21.

In the third quarter (Q3) of 2022, the Saudi company recorded a 32.69% annual plunge in net profit to 16.38 million SAR compared to 24.34 million SAR.

On a quarterly basis, Q3 2022 net profit contracted by 47.65% from 31.29 million SAR in Q2 2022.

On 6M-22, the company generated a net profit of SAR 63.65 million, an increase of 8.33% from SAR 58.75 million.

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