SHL Finance Company has successfully renewed its Sharia-compliant credit facilities agreement with Arab National Bank (ANB) for SAR 1.91 billion, equivalent to approximately $509 million. The renewal, confirmed through a bourse disclosure, is set for a duration of five years and was officially obtained on March 23, 2025.

The primary objective of this funding is to support SHL Finance’s expansion strategy and enhance sales volume, aligning with the company’s long-term growth vision. The agreement is secured by a promissory note covering the full amount of the funding, along with an assignment of receivables that covers 105% of the outstanding balance.

In 2024, SHL Finance reported a remarkable annual increase of 1 040% in its net profit after Zakat and income tax, rising to SAR 26.52 million from SAR 2.32 million the previous year. Similarly, ANB posted a net profit of SAR 4.96 billion in 2024, marking a 21.98% year-on-year increase from SAR 4.07 billion.