Bidaya Finance Reports SAR 10.60M Net Profit in the Six Months 2026
BIDAYA SUKUK 03/2029 5025.SA | 0.00 |
On 2026-08-11 08:05:20 (Saudi Time), Bidaya Finance announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 92,204 | 78,964 | 16.767 | 74,425 | 23.888 |
| Net Income From Special Commission of Financing | 62,498 | 43,930 | 42.267 | 43,262 | 44.463 |
| Net Income From Special Commission of Investment | - | - | - | - | - |
| Total Operations Profit (Loss) | 13,268 | 11,084 | 19.704 | 5,422 | 144.706 |
| Net Profit (Loss) before Zakat and Income Tax | 10,115 | 7,797 | 29.729 | 3,140 | 222.133 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 8,092 | 6,256 | 29.347 | 2,512 | 222.133 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 8,092 | 6,256 | 29.347 | 2,512 | 222.133 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 49,230 | 32,846 | 49.881 | 37,840 | 30.1 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 3,308 | 3,622 | -8.669 | 2,443 | 35.407 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Income From Special Commission of Financing | 166,629 | 147,437 | 13.017 |
| Net Income From Special Commission of Financing | 105,760 | 79,250 | 33.451 |
| Net Income From Special Commission of Investment | - | - | - |
| Total Operations Profit (Loss) | 18,690 | 16,152 | 15.713 |
| Net Profit (Loss) before Zakat and Income Tax | 13,255 | 10,663 | 24.308 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 10,604 | 8,530 | 24.314 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 10,604 | 8,530 | 24.314 |
| Assets | 3,033,780 | 2,850,198 | 6.441 |
| Investments | 893 | 893 | - |
| Loans And Advances Portfolio (Financing And Investment) | 2,427,912 | 2,638,981 | -7.998 |
| Clients' deposits | - | - | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 895,492 | 871,373 | 2.767 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 87,070 | 63,098 | 37.991 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 5,751 | 5,949 | -3.328 |
| Profit (Loss) per Share | 0.12 | 0.09 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | 13,420 | 1.5 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, total income from special commissions for financing rose 13.02% YoY to SAR 166.63 million (from SAR 147.44 million), driven primarily by gains on asset sales and income from Murabaha contracts. Net profit attributable to shareholders increased 24.31% YoY to SAR 10.60 million (from SAR 8.53 million), supported by the growth in special commission income, a 10.73% reduction in the cost of financing, and a 3.33% decrease in ECL provisions. These positive drivers were partially offset by a significant 37.99% rise in other operating expenses, which increased to SAR 87.07 million from SAR 63.10 million in the prior period.
Quarter-on-Quarter Performance Drivers
I need to note that the source data contains figures labeled as "Thousands" but the explanatory text refers to them with "million" — this appears to be an error in the announcement itself. I will follow the data unit stated in the table footer ("Thousands") and apply the conversion rule accordingly. QoQ total income from special commission financing rose 23.89% to SAR 0.09(currency not specified in original) million (from SAR 0.07(currency not specified in original) million prior quarter), driven primarily by higher gains on asset sales. Net profit attributable to shareholders surged 222.13% QoQ to SAR 0.01(currency not specified in original) million (vs. SAR 0.00(currency not specified in original) million), supported by increased special commission income from higher asset sales and a lower cost of funding (down 4.68%), partially offset by a 30.10% rise in operating expenses. Additionally, net ECL provisions increased 35.41% QoQ to SAR 3.31(currency not specified in original) million, mainly due to losses on revaluation of held-for-sale properties, additional provisions on new originations, and partial write-offs of non-performing ijarah receivables, partially offset by provision releases from sold assets.
Other Items
The external auditor issued an unmodified conclusion with no additional comments or qualifications noted. Accumulated losses stood at SAR 13,420 thousand, representing 1.5% of capital. Total assets as of 30 June 2026 were SAR 3,033,780 thousand, up 6.441% from SAR 2,850,198 thousand a year earlier. The loans and advances portfolio (financing and investment) declined 7.998% YoY to SAR 2,427,912 thousand from SAR 2,638,981 thousand. Total shareholders' equity (after deducting minority equity) was SAR 895,492 thousand, compared to SAR 871,373 thousand in the prior year period, a 2.767% increase. Earnings per share for the current period were SAR 0.12, up from SAR 0.09 in the same period of the prior year. No material risk warnings, going concern uncertainties, or debt covenant breaches were disclosed. The company confirmed it is not engaged in any deposit-taking activity, and therefore customer deposits are not applicable. No comparative figures were reclassified.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97489&anCat=1&cs=5025&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.