SAIC obtains SAR 100m loan from Alinma Bank

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Riyadh Mubasher: Saudi Advanced Industries Company (SAIC) penned, on 24 March, a Sharia-compliant credit facility agreement with Alinma Bank at a value of SAR 100 million.The company will use the loan to expand its investments, according to a bourse disclosure.The one-year financing is secured by a promissory note and a portion of the investment portfolio assets.Alinma Bank recorded 20.51% higher net profits at SAR 5.83 billion in 2024, compared to SAR 4.83 billion in 2023.

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