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Al Nuaifat Q2 Profits Rise 137 Percent
Nayifat Finance Company announced its financial results for the second quarter of 2026, recording a net profit of 36.89 million SAR, representing a growth of 136.97% compared to the same period last year. This increase is attributed to lower operational expenses and improved collection processes. Additionally, half-year profits rose by 53.57% to reach 60.07 million SAR, despite an 8.34% decline in revenues, which totaled 155.72 million SAR. This drop was due to a strategy focused on high-credit-quality customers and risk reduction, along with a decrease in the lending portfolio resulting from early settlements. Operating profits for the first half of the year increased by 39.64% to reach 68.31 million SAR.
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