Business
SNG: IHR renews $8mln facility with Al Rajhi Bank
SNG: IHR renews $8mln facility with Al Rajhi Bank
About this update from Al Rajhi Bank
First published: 26-Sep-2025 07:41:24Staff WriterRiyadh: International Human Resources Company (IHR) has renewed and amended its Sharia-compliant credit facility totaling SAR 30 million with Al Rajhi Bank for one year.The company will use SAR 27.50 million to boost its working capital and SAR 2.50 million for letters of guarantee required for contracts and projects, according to a bourse filing.The loan is secured by a promissory note for SAR 30.61 million and a waiver of project revenues covering 125% of the financing.In the first half (H1) of 2025, IHR posted net profits valued at SAR 4.83 million, higher by 47.67% year-on-year (YoY) than SAR 3.27 million.Revenues leapt by 88.05% YoY to SAR 143.83 million during the January-June 2025 period from SAR 76.48 million. Meanwhile, earnings per share (EPS) went up to SAR 0.10 from SAR 0.07.In the first six months (6M) of 2025, Al Rajhi Bank logged an annual surge of 32.45% in net profits to SAR 12.05 billion, versus SAR 9.10 billion in H1-24.All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (Syndigate.info).Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.