SAIC obtains SAR 100m loan from Alinma Bank

-0.89%

-2.98%

ALINMA

1150.SA

24.50

-0.89%

SAIC

2120.SA

17.28

-2.98%

Riyadh – Mubasher: Saudi Advanced Industries Company (SAIC) penned, on 24 March, a Sharia-compliant credit facility agreement with Alinma Bank at a value of SAR 100 million.

The company will use the loan to expand its investments, according to a bourse disclosure.

The one-year financing is secured by a promissory note and a portion of the investment portfolio assets.

Alinma Bank recorded 20.51% higher net profits at SAR 5.83 billion in 2024, compared to SAR 4.83 billion in 2023.

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