Bidaya Finance Reports SAR 2.51M Net Profit in Three Months 2026
BIDAYA SUKUK 03/2029 5025.SA | 0.00 |
On 2026-05-13 08:01:31 (Saudi Time), Bidaya Finance announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 74,425 | 68,472 | 8.694 | 81,790 | -9.004 |
| Net Income From Special Commission of Financing | 43,262 | 35,320 | 22.485 | 50,318 | -14.022 |
| Net Income From Special Commission of Investment | - | - | - | - | - |
| Total Operations Profit (Loss) | 5,422 | 5,068 | 6.985 | 14,755 | -63.253 |
| Net Profit (Loss) before Zakat and Income Tax | 3,140 | 2,866 | 9.56 | 9,320 | -66.309 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 2,512 | 2,274 | 10.466 | 8,172 | -69.26 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 2,512 | 2,274 | 10.466 | 6,983 | -64.026 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 37,840 | 30,252 | 25.082 | 35,563 | 6.402 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 2,443 | 2,327 | 4.984 | 5,524 | -55.774 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Assets | 2,909,894 | 3,033,447 | -4.073 |
| Investments | 893 | 893 | - |
| Loans And Advances Portfolio (Financing And Investment) | 2,658,065 | 2,814,170 | -5.547 |
| Clients' deposits | - | - | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 887,400 | 865,117 | 2.575 |
| Profit (Loss) per Share | 0.03 | 0.03 | |
| 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 | 21,512 | 2.4 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Total income from special commission of financing increased 8.69% YoY to SAR 74.43 million, primarily driven by higher Murabaha income and fee income. Net profit rose 10.47% YoY to SAR 2.51 million, supported by the increased commission income and lower cost of funds by 6.00%, though this was partially offset by higher operating expenses which increased 25.08% and slightly higher expected credit loss expenses up 4.98%.
Quarter-on-Quarter Performance Drivers
QoQ net profit declined 69.26% to SAR 2.51 million from SAR 8.17 million in the previous quarter. The decrease was primarily driven by lower special commission income, which fell 9.00% due to reduced asset sales yielding lower income on gain on sale of portfolio. Additionally, operating expenses increased by 6.40%, further pressuring profitability despite a 55.77% decrease in expected credit loss provisions.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. Total assets decreased 4.073% YoY to SAR 2.91 billion while total shareholders' equity increased 2.575% to SAR 887.4 million. The loans and advances portfolio declined 5.547% YoY to SAR 2.66 billion. Accumulated losses represent 2.4% of capital at SAR 21.51 million. Earnings per share remained stable at SAR 0.03 compared to the same quarter last year. The company confirmed it is not currently engaged in deposit-taking activities.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95333&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.