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Marn losses widen in Q3
Marn Finance Company’s net loss rose 1,417% year on year in the third quarter of 2026 to SAR 26.31 million, compared with a loss of SAR 1.73 million a year earlier. The loss was also 15% higher than in the second quarter. The company attributed the increase to a 37.52% decline in revenue to SAR 34.96 million and higher impairment losses on its financing portfolio, despite a reduction in losses at its subsidiary, Loop. In the first nine months of the year, the company recorded a loss of SAR 52.69 million, while accumulated losses reached SAR 13.38 million, equivalent to 1.87% of its capital.
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