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Omalaa Al-Alamiyah Q2 Profits Up 25.2%
Almalak Global Financing Company announced its financial results for the second quarter of 2026, recording a year-on-year increase in net profits of 25.18%, reaching 25.53 million Riyals compared to 20.39 million Riyals in the same period last year. Total income from financing commissions rose by 18.16% to 164.62 million Riyals, while net income from commissions increased by 32.17% to 109.47 million Riyals. Profit before Zakat and tax grew by 25.17% to 32.16 million Riyals. The growth is attributed to an increase in the loan and advance portfolio by 4.29%, improved returns, as well as gains from the sale of part of the portfolio, despite rising operating expenses and the credit loss provision which increased to 24.48 million Riyals, a 110.91% rise. The results also showed that quarterly profits increased by 61.4% compared to the first quarter of 2026, and the first half results of 2026 rose by 27.97%, with the financing portfolio growing to 4.57 billion Riyals and the company's assets reaching 4.88 billion Riyals. Shareholders' equity stood at 1.28 billion Riyals.
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