Financing's second-quarter profits reach 8.09 million Riyals
Bidaya Financing Company achieved a profit of 8.09 million SAR in the second quarter of 2026, reflecting a 29.35% increase year-over-year and a 222.13% rise compared to the previous quarter. The profit growth was driven by a 16.77% increase in specialized commission revenues, a 15.21% reduction in funding costs, and an 8.67% decrease in provisions for expected credit losses. Additionally, the company recorded an increase in total income from specialized commissions on financing by 16.77%, and gains from the sale of Securitization portfolios, despitehigher operational expenses. For the first half of 2026, net profit rose by 24.31% to reach 10.60 million SAR, and the company's assets grew to 3.03 billion SAR, while the loan portfolio declined by 8%. **Conclusion**: The company demonstrated strong financial performance during the first half and the second quarter of 2026, supported by increased revenues and reduced costs, despite higher operational expenses.
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