Riyadh – Mubasher: Elm Company penned a Shariah-aligned facility agreement valued at SAR 1.90 billion with The Saudi National Bank (SNB) on 27 March 2025.

The Saudi company aims to finance corporate expansion and acquisitions, according to a bourse disclosure.

Meanwhile, the five-year financing deal is secured by a promissory note.

In the 12-month period that ended on 31 December 2024, Elm posted 34.66% higher consolidated net profits after tax at SAR 1.82 billion, compared to SAR 1.35 billion in 2023.

The bank’s net profits jumped by 5.91% to SAR 21.19 billion last year from SAR 20.01 billion in 2023.