Benan's Q2 profit reaches 8.83M riyals

Banan Real Estate Company announced an 8.14% increase in its profits for the second quarter of 2026, reaching 8.83 million riyals compared to 8.17 million riyals in the same quarter of the previous year. This growth was driven by a 64% reduction in financing costs and a reversal of credit loss provisions amounting to 973,000 riyals. Although profits declined by 28.82% compared to the first quarter of 2026, the company achieved a 16.95% increase in net profits for the first half of the year, thanks to improved operational efficiency, higher occupancy rates, and better performance of the real estate portfolio. Total revenues for the first half amounted to 37.08 million riyals, reflecting a 3.77% increase.

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