Saudi: First Mills secures $168mln loan from SAB
First Mills will use the loan to support its commercial and operational activities that contribute to its future expansion and growth, according to a bourse disclosure.
It aligns with the company's strategy to optimize financing costs, boost profitability, and drive sustainable long-term returns for shareholders.
These facilities include financing debt repayments, financing working capital requirements, bank guarantee facilities, and letters of credit.
Valid until 31 December 2035, the loan is secured by promissory notes for the facility amounts.
At the end of 2024, the company recorded 13.94% higher net profits at SAR 250.90 million, compared to SAR 220.20 million in 2023.
Source: Mubasher
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
2 days ago
- Zawya
Salam signs agreement with Syria's Ministry of Communications and Technology to expand digital infrastructure and foster regional integration
Riyadh, Saudi Arabia: As part of the Saudi-Syrian Investment Forum held in Damascus under the patronage of Syrian President Ahmed al-Sharaa, Etihad Salam Telecom Company ('Salam') signed a Memorandum of Understanding (MoU) with the Ministry of Communications and Technology in the Syrian Arab Republic. The agreement aims to develop Syria's digital infrastructure and expand access to high-quality telecommunications services. The MoU outlines plans to explore establishing IP Points of Presence (IP Nodes PoPs) in Damascus and Aleppo, enabling Salam to provide high-reliability local and international Tier-1 connectivity. This will support the broader goals of digital transformation and technological development in Syria. Salam's participation in the forum underscores its commitment to enhancing regional digital and knowledge integration and applying global best practices in telecommunications and ICT. Since 2005, the company has leveraged its experience and achievements to solidify its leadership in Saudi Arabia and across the Middle East. During his speech at the forum, His Excellency Eng. Khalid bin Abdulaziz Al-Falih highlighted the collaborative efforts between Saudi Arabia and Syria in telecommunications and ICT. He also extended his gratitude to His Excellency Abdulsalam Haykal, Minister of Communications and Technology in Syria, for maintaining close dialogue with Saudi companies. He stated: 'Our joint efforts aim to strengthen cybersecurity capabilities and develop advanced systems in programming, artificial intelligence, data centres, and educational academies in Syria. The estimated value of these investment agreements is approximately SAR 4 billion.' Commenting on the occasion, Abdullah AlRufaidi, Vice President of Wholesale and Carrier Relations at Salam, said: 'Our participation in the forum reflects Salam's commitment to advancing regional cooperation, innovation, and digital transformation. By drawing on our successful business model in Saudi Arabia, we aim to deliver scalable, reliable telecom services that empower Syria's digital infrastructure and economic growth.' This initiative aligns with the Kingdom's broader vision to promote regional digital integration, enhance infrastructure readiness, and drive sustainable technological advancement through impactful partnerships. It reflects the leadership's commitment to fostering deeper cooperation with the Syrian Arab Republic, advancing strategic collaborations in technology and economics, and building a foundation for stronger bilateral ties based on innovation and shared development. About Etihad Salam Telecom Company Etihad Salam Telecom Company is one of the leading national companies in Saudi Arabia's telecommunications and information technology sector. Recognized as the Kingdom's fastest-growing and most innovative telecom brand, Salam has operated one of the region's most established telecom networks since 2005. The company provides cutting-edge ICT solutions for businesses, government entities, and carriers locally and internationally, along with fixed and mobile services supporting Saudi Arabia's digital transformation. As a key enabler of Saudi Vision 2030, Salam offers advanced telecommunications, cloud computing, data centers, and digital infrastructure. Its subsidiaries, Salam Mobile Telecom Company and Technical Links Services (TLS) ensure the delivery of innovative solutions and seamless connectivity across the Kingdom.
Zawya
2 days ago
- Zawya
Alinma Bank records $800mln net profit in H1-25; dividends unveiled
Riyadh – Alinma Bank announced SAR 3.08 billion net profits generated during the first half (H1) of 2025. The net income marked a 12.81% increase from SAR 2.73 billion in H1-24, according to the income statements. The earnings per share (EPS) leveled up to SAR 1.15 as of 30 June 2025 compared with SAR 1.06 in the same period a year earlier. Moreover, the clients' deposits grew by 11.97% to SAR 229.94 billion in the first six months (6M) of 2025 from SAR 205.35 billion in the same half last year. The assets totaled SAR 297.21 billion at the end of June 2025, surging by 14.25% from SAR 260.13 billion as of 30 June 2024. The investments hit SAR 51.63 billion in H1-25, signaling a 10.74% growth from SAR 46.63 billion in H1-24. Income Statements for Q2-25 In the second quarter (Q2) of 2025, Alinma Bank posted an 11.06% profit increase to SAR 1.57 billion compared with SAR 1.41 billion in Q2-24. Quarter-on-quarter (QoQ), the net profits registered in Q2-25 were 4.33% higher than SAR 1.50 billion in Q1-25. Cash Dividends The board of Alinma Bank decided to disburse SAR 0.30 per share, representing 3% of the share par value, as a cash dividend for Q2-25. The Saudi lender will pay a total of SAR 746.16 million for 2.48 billion eligible shares. Moreover, the eligibility and distribution dates for Q2-25 dividends will be 7 and 21 August 2025, respectively. It is worth noting that board previously proposed cash dividends worth SAR 745.16 million for Q1-25.
Zawya
2 days ago
- Zawya
Bank Aljazira achieves 20% net profit in H1-25; assets exceed $42bln
Riyadh – Bank Aljazira recorded SAR 743.10 million net profits in the first half (H1) of 2025, signaling a 20.24% growth from SAR 618 million in H1-24. The earnings per share (EPS) inched up to SAR 0.50 at the end of June 2025 compared to SAR 0.41 in the same period a year earlier, according to the income statements. The Saudi lender registered client's deposits totaling SAR 114.15 billion as of 30 June 2025, which increased by 15.83% year-on-year (YoY) from SAR 98.55 billion. Bank Aljazira's total assets also soared by 14.18% YoY to SAR 157.57 billion in H1-25 from SAR 138 billion. In addition, the investments rose by 7.97% YoY to SAR 37.38 billion in January-June 2025 from SAR 34.61 billion in the same six months (6M) a year earlier. Quarterly Results In the second quarter (Q2) of 2025, the net profits of Bank Aljazira also surged by 20.30% to SAR 382.10 million from SAR 317.60 million in Q2-24. Meanwhile, on a quarterly basis, the Q2-25 net profits were 5.84% higher than SAR 361 million in Q1-25. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
